Moonbirds NFT creators raise $10m from Reddit co-founder Alexis Ohanian

The Moonbirds NFT collection’s backing startup Proof raised $10 million from Seven Seven Six — the venture capital firm co-founded by Reddit co-founder Alexis Ohanian.

We’re thrilled to announce $10M in funding led by @alexisohanian / @SevenSevenSix (w/ @trueventures participating as well). Thrilled to build the future of Web3 w/ the deep product and community mind of Alexis. Details here: https://t.co/RSFAXoNOLP

— Moonbirds (@moonbirds) April 25, 2022

The startup was founded by Kevin Rose, a partner at True Ventures. True Ventures also participated in the funding round, but it was Seven Seven Six that invested the $10 million, he noted.

Rose noted that collaboration with Ohanian will allow the project to issue additional non-fungible tokens alongside Web 3.0 content creation, launching a conference and other initiatives.

Previously Proof launched PROOF Collective — a closed community with more than 1,000 members who gained access to NFT drops and other privileges. The tokens in the collection were sold via a Dutch auction format — their price started at 5 ETH.

As of writing, the cheapest of the listed tokens on the OpenSea marketplace can be bought for 100 ETH ($285 884 at the current rate).

Another of the startup’s collections—the Moonbirds—launched on April 16. The mint price for Proof’s NFT was 2,5 ETH per unit. The minimum price of a token from the collection is 27,75 ETH.

As reported, The Sandbox metaverse project bought Moonbird #2642 for 350 ETH (more than $1 million at the time of the deal).

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