PROOF Collective, creators of the popular Moonbirds NFT collection, have announced their closure, signalling the end of their Grails NFT series.
In a statement on X, the PROOF team stated that “after nearly three years of incredible artist collaborations, art-focused storytelling, and memorable events, PROOF Collective will begin to come to a close.”
In-person events will continue through 2025, whilst PROOF’s Collective Pass NFTs – denoting membership to PROOF – will be able to be redeemed for a piece of generative art from a new collection in the coming months.
What is PROOF Collective?
PROOF Collective is a community of artists, collectors and creatives, with the stated aim to drive the medium of NFT art forward.
Fronted by Kevin Rose, the group was best-known for the creation of the Moonbirds NFT collection, and its subsequent Oddities and Mythics NFT series.
PROOF Collective was acquired by Yuga Labs in February 2024, with many of the PROOF team being absorbed into the Yuga fold.
Yuga Labs have yet to comment on the announcement of the closure of PROOF Collective.
What does this mean for NFT art?
Although PROOF has had a huge impact on the NFT landscape – in particular with the explosive debut of the Moonbirds collection – numerous controversies have led to its downfall.
Prior to the Yuga acquisition, questions were raised about a potential misappropriation of the funds raised during the Moonbirds mint, and comments from Rose comparing the situation of Moonbirds with that of Bored Ape Yacht Club were poorly received.
Regardless, their five seasons of Grails NFTs have done a great duty in giving talented and renowned artists a platform in the blockchain space. Although PROOF have stated that these five seasons of Grails NFTs will continue to be supported, the news that there will be no future series is no doubt a blow to NFT art.
Bullish on web3. Competitive soul.