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.

Comments

The economy of Malaysia is expected to slow down in 2023.

According to statements made by analysts on Thursday, the economy of Malaysia will slow down in 2023 as a result of adverse external conditions and a slowdown in internal demand. According to Xinhua news agency, the Maybank Investment Bank Research said in a research that it anticipates Malaysia's full-year growth to drop to 4 percent in 2023 from the growth prediction of 8 percent in 2022. This is mostly reflective of a moderation in domestic demand. As pent-up spending from the complete economic re-opening evaporates next year, the research house anticipates slower growth in private consumption. This will be compounded by the effects of high inflation and high interest rates on the cost of living and real disposable income. It also forecasts a slowdown in the expansion of private consumption, which is expected to be in line with the reduced allocation for government operating expenses in Budget 2023. In addition, it was said that the forecast for slower global economic developmen

7-Day Wait for Vote to Fix Compound CETH Market Bricked By Update

A recent governance proposal to update the pricing feeds of Compound, a decentralized lending platform, was hampered by a programming error. Although the Compound ETH (cETH) market has "temporarily halted" due to the coding fault, Compound Labs assured users that their money is not in danger right away despite the front end's malfunction. On August 31, Compound Labs revealed that the code error originated from Proposal 117: Compound Oracle Upgrade v3, which had just been put into place to upgrade the oracle contracts on the Compound protocol to a new version that uses Uniswap V3 rather than V2 for price feeds. Compound Labs stated that it intended to use Proposal 119: Oracle Update to return to the prior price feed in response to the cETH market briefly freezing. Despite being created less than an hour after Proposal 117 was carried out, the new proposal must now go through a seven-day governance process before it can go into effect. According to an update from OpenZeppel

After major averages extended their losses to start the week, stock futures continued their downward trend.

The stock market futures went in the opposite direction on Tuesday morning, falling after the Bank of Japan indicated that it will increase the yield target range. The Dow Jones Industrial Average futures market experienced a loss of 236 points, or 0.72 percent. Futures contracts for the S&P 500 and the Nasdaq 100 both had a decline of 1.05% and 0.86%, respectively. On Monday, ordinary trading on the Dow Jones Industrial Average resulted in a loss of more than 162 points, or around 0.5%. The S&P 500 had a loss of 0.9%, while the Nasdaq Composite dropped almost 1.5%. The stock market is currently on track to finish the month and the year with a loss, and investors' expectations for a Santa Claus surge are rapidly diminishing. There has been no sign of Santa Claus as of yet. Louis Navellier, the founder of the growth investing firm Navellier & Associates, once advised his clients to "buckle up." "One would want to think that all of the bad news has been rep

Search This Blog