Investing in PROOFSriram Krishnan
We are big believers in NFTs revolutionizing the future of the media, entertainment, and content creation spaces.
It’s personally been thrilling to see how many different artists and creators, developers, and communities have found unique ways to use NFTs to build community/technology and interesting experiences on top. One of the most exciting examples is PROOF.
PROOF is a collective of creators and builders that are deeply passionate about art and community. They are bringing together people looking to contribute to the future of web3 art, tech, and culture.
Together, they have already built something notable with their first major launch, Moonbirds. It turns out that’s just the beginning.
Today the PROOF team laid out the future of that ecosystem at their live Future PROOF event.
They unveiled a variety of upcoming projects, including the creation of Moonbirds DAO, the upcoming launch of PROOF’s web3 platform, and its newest collection: the Moonbirds Mythics.
What makes PROOF exciting is it’s a combination of a seasoned team of founders building interesting tech and product experiences with a real focus on community.
We believe that the next generation of massive mainstream media franchises will be community-owned and governed, and PROOF is one of those companies demonstrating just that.
We at the firm have known Kevin since his days founding Digg, and he is no stranger to many of us for his work in crypto these last few years.
He has always had the unique ability to understand how technology would affect the media and entertainment industries years before others and steward authentic communities as a part of it.
The combination of Kevin’s leadership with Justin’s creative design eye creates a team we couldn’t be more thrilled to partner with.
I couldn’t be more proud that a16z crypto is leading PROOF’s $50 million Series A investment to help PROOF enter its new phase of growth into a leading web3 technology company.
The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.
Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.