In a groundbreaking development, Proof has garnered $50 million from renowned crypto investment firm a16z, aiming to unveil a new series of Moonbirds NFTs alongside a utility token.

During the Future Proof live stream, Proof, the company creating the Moonbirds NFTs, has detailed several upcoming projects, including a unique NFT collection and a native token launch, alongside announcing their recent funding of $50 million.

Kevin Rose, a tech entrepreneur and co-founder of Proof, who also played a role in developing the acclaimed NFT collection, announced via Twitter that the company successfully raised $50 million in a Series A funding round. This round was led by the esteemed crypto investor firm Andreesen Horowitz (a16z), and was backed by other notable investors like Collab + Currency, Flamingo DAO, SV Agnel, True Ventures, and VaynerFund. Moonbirds We're excited to share our vision and roadmap for the months ahead.

Rose also  tweeted During the stream, Rose confirmed that Proof is diligently developing a utility token for their community, anticipating that this token will offer both technological advancements and legal advantages.

Recognizing that simply adding another speculative token to the mix is unnecessary, we want our token to be distinctive, providing genuine utility and pushing the boundaries of what's achievable in innovative and thrilling ways. If it doesn't meet these criteria, then we see no point in pursuing it at all.

Among the additional plans disclosed during the Future Proof live stream was a new spinoff collection of Moonbirds known as Mythics. Set to include 20,000 NFTs, this collection is slated for launch early next year and will represent Proof's third profile picture (PFP) NFT series. Unlike the pixelated design of previous collections, Mythics will feature a hand-drawn appearance. said . 

Those who own Moonbirds will have the opportunity to stake their NFTs and earn a Mythics NFT as a reward. As a bonus, the NFTs from Proof's second project can be burned in exchange for a Mythics NFT.

Notably, all Moonbirds NFTs will be fully on-chain, which ensures that they operate independently from external servers tied to their smart contracts on the Ethereum blockchain. Oddities In a surprising turn, Moonbirds' COO Ryan Carson has exited the project, while PROOF successfully raised an additional $10 million.

Recent rumors indicate that a hack on Optimism has led to a significant decline of 9% in the value of their native token following a period of growth.

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• Moonbirds made a massive impact in the NFT market with staggering sales reaching $294 million, setting a new record.
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