PROOF secures $10 Million From Alexis Ohanian Following Moonbirds Launch

The Web3 media startup PROOF has secured $10 Million, from Seven Seven Six, by Alexis Ohanian.

The recent launch of Moonbirds by PROOF was a move that attracted significant attention and has generated $446M worth of trading volume.

Rose also recently announced that the COO has decided to take his leave from the company.

Web3 media startup PROOF, from Kevin Rose, the Digg co-founder and venture capitalist, just took a disruptive move in the NFT industry by rolling out its Moonbirds project.

Now the startup has secured funds from Alexis Ohanian, who is another prominent tech founder. Rose recently highlighted that PROOF has secured $20 Million from the Venture Capital Seven Seven Six, founded by Ohanian, who also happens to be the co-founder of Reddit.

Rose further signified that True Ventures, which is his own VC firm, also took part in the funding round.

PROOF commenced as a Podcast last year, which was a division from Rose’s existing Modern Finance podcast. Also, in December last year, the firm rolled out PROOF Collective, a private community comprising 1,000 people through NFT access passes, unlocking stuff like access to future events, NFT drops and other benefits.

The PROOF Collective NFTs got sold through a Dutch auction format initiating at 5 ETH per piece, but the value surged on the secondary market. The price has also been boosted due to the recent frenzy around Moonbirds, the first Ethereum NFT Profile Picture collection by PROOF which was launched recently on April 16.

Moonbirds further took flight on the secondary market instantly following the launch, and the project managed to gain $280 Million in sales in just two days.

Furthermore, PROOF plans on releasing additional NFTs besides developing Web3 content and launching a live conference next year and its other initiatives and plans.

Here Comes The Kraken In Calm Waters

Well, things were going smoothly so far, weren’t they? But PROOF’s massive performance did come with a problem too. Following the launch of Moonbirds, Ryan Carson, PROOF co-founder and the Chief Operating Officer, announced the launch of 121G, an NFT investment fund, and began with buying Moonbirds on the secondary market.

Rose recently announced that the COO had decided to depart from PROOF in order to focus on his new fund.

PROOF also faced some controversy regarding its potential gifts of Moonbirds NFTs to celebrities.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing