Moonbirds DAO Prepares for Launch With $2.6M Seed from Kevin Rose’s Proof

Moonbirds, a popular non-fungible token (NFT) collection has announced plans to introduce its DAO (decentralized autonomous organization) community governance in early 2023.

The project’s founder and longtime internet entrepreneur Kevin Rose disclosed on Monday that the DAO structure is being created to “empower creatives that are building towards furthering the Moonbirds ecosystem, reputation, and lore.”

The Moonbirds DAO will allow owners of Moonbirds NFTs and the upcoming Moonbirds Mythics NFTs to join, participate, and submit voting on proposals to expand the ecosystem around the tokenized owl collectibles, Rose explained.

Proof, the private community behind the Moonbirds NFT collection, will seed the DAO with around $2.6 million worth of assets, including $2 million worth of Ether (ETH).

Proof, which was co-founded by Rose, will spend another $500,000 to buy Moonbirds NFTs on the market—an estimated 37 NFTs, based on the current floor price (or cheapest available NFT). Proof will also award the DAO with its own Moonbirds NFTs worth $100,000, according to the report.

Besides that, Proof will also grant 35% of the ongoing creator royalties from both Moonbirds and its spinoff Oddities collection to the DAO. The decentralized autonomous organization will launch with a “cold start” caveat that allows Proof veto any “rogue proposal.”

In August, Proof revealed the first official expansion of the Moonbirds collection, known as Moonbird Mythics, expected to launch in early 2023.

In August, Proof also raised $50 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z), and other participants such as Seven Seven Six, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and VaynerFund. Proof planned to use the fresh funding to launch its latest Moonbirds NFT collection and a social platform for NFT collectors.

In April, Moonbirds completely sold out its collection of 10,000 computer-generated pixel owl avatars within 48 hours of launch, making $281 million in sales at that time.

Moonbirds is a collection of non-fungible tokens that follows the ERC-721 standard on Ethereum’s blockchain ecosystem. The NFTs feature portraits of ‘owls’ (a group of mysterious birds), with exclusive characteristic elements that make each token a rare piece of investment.

The Ethereum-based Moonbirds NFT project offers a pool of opportunities for investors looking to reap profits from non-fungible tokens. According to OpenSea, Moonbirds is ranked at number seven in terms of total volume traded at approximately 169,000 Ether (ETH).

Despite the bear market, NFTs continue gaining popularity as investors from across the globe are actively participating in innovative projects. NFTs have taken a toll on investors, with global icons like Snoop Dog, Naomi Osaka, Jack Dorsey, and Tiger Woods, among others, placing their big bets on related projects.

Image source: Shutterstock


Tagged : / / / / /

Moonbirds Parent Firm PROOF Closes $50M Series A Round Led by A16Z

PROOF, the parent company of Moonbirds NFT, has received $50 million in Series A financing in a new round of financing led by a16z.

Other participants in this round of financing were venture capital firms and investors such as Seven SevenSix, True Ventures, Collab+Currency, Flamingo DAO, SV Angel, and Vayner Fund.

The company, a Web3 media startup led by well-known investor Kevin Rose, started out as a podcast.

PROOF Collective was established in December last year, a private community of thousands of people with NFT as the threshold.

PROOF announced that it is creating a decentralized autonomous organization Moonbirds DAO and the third NFT series Moonbirds Mythics (planned to launch in early 2023), which is a 20,000 PFP (file picture) collection.

The Moonbirds DAO will oversee the licensing of the company’s Moonbirds NFT brand and deploy capital to projects that advance Moonbirds’ mission by granting trademark rights.

The Moonbirds NFT series launched by PROOF has generated $446 million worth of transaction volume to date.

Proof also revealed that the PROOF Web3 social platform is also coming soon, and the beta will enable PROOF creators, and holders of Moonbirds and Oddities to create galleries curated by collectors. The platform will integrate content and actions specific to the PROOF ecosystem, including research reports, podcasts, DAO proposals, and more.

“It’s great to have this vote of confidence from some of the most respected investors in Web3, as well as capital to keep delivering great products and services as we mature this business over the long term,” said Proof CEO Kevin Ross. 

PROOF also revealed that more details on early plans for the PROOF token will be announced in 2023.

In April, PROOF raised $10 million from Alexis Ohanian’s venture capital firm Seven Seven Six.

Image source: Shutterstock


Tagged : / / / / / /
Bitcoin (BTC) $ 38,165.23 0.66%
Ethereum (ETH) $ 2,045.19 0.36%
Litecoin (LTC) $ 70.19 0.66%
Bitcoin Cash (BCH) $ 223.67 0.26%