We spoke with Kevin Rose, a serial entrepreneur whose efforts — most notably Digg — have been neatly featured over the last number of years on the Chain Reaction podcast.
Rose is a partner at True Ventures, but his most recent initiative is an NFT firm called Proof Collective, which recently unveiled a much-hyped 10,000 NFT collection of pixelated owls.
Rose and his partners made $80 million from the initial sale of the Moonbirds project, and they’re using that money, along with a much more normal $10 million fundraising round headed by Alexis Ohanian’s business agency Seven Seven Six, to build a “web3 media firm.”
Rose adds, “We’re in this to develop a gigantic, massive, fresh new sort of media firm from the ground up.” “We didn’t need to raise money from Alexis or True Ventures, but we did because we wanted people to know we were serious about developing a long-term business here.”
These Moonbirds are now purchasing and selling for a minimum of around 25 Eth, which corresponds to almost $50k at current Ethereum prices, but the transaction price has taken a slight hit in recent weeks. We discussed a variety of topics with Rose during our conversation, including the current market dip, which he describes as “risk presenting itself” in the midst of a long journey away from fiat currencies.
“If nothing fundamentally changes behind the scenes, which I guess isn’t the case when it comes to something like UST or Luna,” Rose says, “then I’m just of the mindset that I don’t really think about going back to fiat at any point.”
To read our blog on “NFT collections earning millions of dollars each week, but which will last?” click here.
