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Moonbirds Will Store NFT Art ‘In chain’ as It Raises $50M in Funding Round

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by John K. Kumi · 2 min read
Moonbirds Will Store NFT Art ‘In chain’ as It Raises $50M in Funding Round
Photo: Moonbirds / Twitter

As part of its roadmap, the company is on the verge of creating a PROOF social platform, as well as a new Decentralized Autonomous Organisation (DAO).

PROOF, the private community behind the Moonbirds NFT collection, has raised $50 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z). The event was also participated in by “Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund.”

Harri Thomas, director of products at PROOF, while disclosing the roadmap of the company in a community live stream named “Future PROOF” on Aug. 30, stated that they have decided to ensure that its blue-chip collection is shifted “in chain”.

“We’ve talked about putting the birds ‘on chain’, so what I’m here to tell you today is that they’re not only going to be ON chain, they’re going to be put IN chain,” he said.

According to Thomas, the approach is certainly not unique but is barely seen in the industry. The same approach is used by a 10K PFP NFT collection launched in 2021 called OnChainMonkey.

“It’s cool to enter that rarefied space of a fully in-chain project and make sure that this project is fully decentralized and viewable for just generations,” said Co-founder and chief product officer Justin Mezzell during the live stream.

While the speech did not mention the exact date for the shift, the PROOF’s Moonbirds collection, known as Moonbird Mythics was captured and said to be launched in early 2023. As part of its roadmap, the company is on the verge of creating a PROOF social platform, as well as a new Decentralized Autonomous Organisation (DAO). In addition, an eponymous token, the “PROOF token,” would be launched with more details expected in 2023.

The collection is said to be the company’s third NFT profile picture (PFP) project and is expected to span 20,000 NFTs. It can be recalled that the Ethereum-based Moonbirds NFT project with “10,000 computer-generated pixel owl avatars” was completely sold out just 48 hours after its launch in April. This earned them $281 million at that time. The success gave it the name “blue-chip” NFT. As of now, Moonbirds is ranked number seven by OpenSea in terms of total volume traded which is around 169,000 ETH  ($267 million). In the 24-hour charts, it was ranked number one with a floor price of 13.8 ETH ($21,816).

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John K. Kumi
Author John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

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