Proof has raised $50 million in its Series A funding round, which was led by A16z.

Proof has shown that it has successfully closed a $50 million Series A round of funding led by Andreessen Horowitz.

Proof's $50 million fundraising round, which was led by Andreessen Horowitz, has come to a successful end (a16z).

During the funding process, there was also help from Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund. In April, Seven Seven Six put $10 million into PROOF.

The company also talked about the technology that runs its Web3 platform and how it plans to grow the whole ecosystem.

The company is now working on making a platform that will help NFT collectors work with communities and unlock utilities.

Kevin Rose, co-founder and CEO of Proof, made the announcement, along with co-founder and Chief Product Officer Justin Mezell and Director of Product Harri Thomas.

Getting money during a live-streamed event for the community. Kevin Rose said this about the fundraising: "It's great to have this vote of confidence from some of the most respected investors in web3, as well as the money to keep delivering great products and services as we grow this business over the long term."

PROOF is working on a Web3 social platform that will be run by the whole community using a voting system called a DAO (decentralized autonomous organization).

Also, people who use the platform will get information about NFT that will help them make decisions.

Once the beta version of the platform is out, people who own PROOF Collective, Moonbirds, or Oddities tokens will be able to show their NFTs on the site.

The company made this announcement soon after deciding to give the Moonbirds and Oddities characters to the public domain.

Which means that anyone can combine the characters to make money. The business switched its two collections under the Creative Commons Zero (CC0) license at the beginning of the month of August.

With the launch of its new platform, it looks like the company is shifting its focus from the creator economy to the blockchain infrastructure market.

The owners of the two collections were upset with PROOF because they thought they should have been consulted before Moonbirds and Oddities were given to CCO. This made people say bad things about PROOF.

The company also said that it will put Moonbirds on chains and make a new collection called Moonbird Mythic, which will come out at the start of 2023.

PROOF will also make a governance token for its ecosystem, which will be called Proof token. Also, this launch is likely to happen in 2023.

Kevin Rose said at the Future PROOF event, "The world doesn't need another speculation token. When we do something, it should be our own and useful, pushing the limits of what is possible in new and interesting ways.