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§ Private Profile · 2019 East, 3rd Street, Austin, TX
tokenproof is a technology company.
tokenproof has raised $5.0M across 1 funding round.
Key people at tokenproof.
tokenproof was founded in 2022 by Jonathan Scheiner (Co-Founder and Chief Financial Officer).
tokenproof has raised $5.0M in total across 1 funding round.
Tokenproof provides a platform enabling brands to create fan engagement and experiences via on-chain digital collectibles. It allows users to securely prove asset ownership, gaining access to exclusive token-gated events, discounts, products, and content both online and physically. The system simplifies web3 entry for new users, offering wallet creation via email, and facilitates diverse brand activations.
Jonathan Scheiner and Peyton Smith founded tokenproof in 2022, recognizing digital asset ownership's potential to transform brand-fan relationships. They aimed to develop a secure token verification method, granting access to benefits without risking assets. This approach sought to unlock practical utility for digital collectibles, cultivating deeper community ties.
The platform caters to brands and communities seeking innovative audience interaction, alongside individuals leveraging digital collectibles for unique experiences. Tokenproof helps brands enhance loyalty and foster new consumer relationships through targeted activations. The company envisions itself as a core enabler for broad web3 adoption, expanding digital ownership's potential for consumers and enterprises.
tokenproof was founded in 2022 by Jonathan Scheiner (Co-Founder and Chief Financial Officer).
tokenproof has raised $5.0M in total across 1 funding round.
tokenproof's investors include Penny Jar Capital, 11k Ventures, 75 & Sunny, 8VC, Animoca Brands, Ballistic Ventures, Bessemer Venture Partners, Cubit Capital, Drive Capital, E1 Ventures, Founders Fund, Frontier Ventures.
Key people at tokenproof.
tokenproof has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Seed in August 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2022 | $5M Seed | Penny JAR Capital | 11K Ventures, 75 & Sunny, 8VC, Animoca Brands, Ballistic Ventures, Bessemer Venture Partners, Cubit Capital, Drive Capital, E1 Ventures, Founders Fund, Frontier Ventures, General Catalyst, Goat Capital, Lightspeed Venture Partners, Operator Collective, Prime Movers LAB, Seven Seven SIX, Talis Capital, Vista Venture Partners, Voyager Capital, Y Combinator, Emil LEE, Gokul Rajaram, Joshua Reeves, Louis Beryl, Natasha Ahmed, Steve Aoki, Thomas Tull, Vivek Patel, Zachary Hargreaves, Keith A. Grossman, Mark Cuban, Patricio Worthalter, Sebastien Borget, 6TH MAN Ventures, Canonical Crypto, Corazon Capital | Announced |
Tokenproof is a privacy-focused technology company that builds software for secure NFT ownership verification, enabling users to prove token holdings without connecting wallets or compromising security. It serves brands, communities, and NFT holders by solving the problem of making Web3 assets practical for real-world and digital experiences like events, exclusive content, discounts, and loyalty programs.[1][2][3][4] The product powers token-gated activations, with over 75k users unlocking experiences, 300+ activations, and 160+ brands engaged, alongside $5M in funding before its 2024 acquisition by Yuga Labs.[1][2][3]
Tokenproof was co-founded in 2022 by G. Peyton Smith (Chief Product Officer) in Austin, TX, with the mission to transform NFTs from static images into functional keys for exclusive perks, addressing wallet security risks and usability barriers in Web3.[1][2] The idea emerged from a vision to bridge Web3 potential with everyday accessibility, starting with MVPs for event management, ticketing (built on Bubble.io), and a user-friendly website.[1] Early traction came from streamlining NFT verification for events and experiences, leading to partnerships and its acquisition by Yuga Labs in 2024, marking a pivotal evolution.[1][3]
Tokenproof rides the Web3 accessibility wave, capitalizing on NFT utility beyond speculation amid growing demand for privacy-preserving identity solutions in a post-hype blockchain era.[1][3][4] Timing aligns with brands seeking fan engagement tools that blend digital collectibles with IRL experiences, fueled by market forces like decentralized loyalty programs and sustainable Web3 (e.g., NEAR Foundation partnership).[3] It influences the ecosystem by onboarding non-Web3 natives, boosting NFT adoption through safe token-gating, and enabling commerce/perks that make on-chain assets tangible—lowering entry barriers while enhancing brand-consumer bonds.[1][3]
Post-acquisition by Yuga Labs, Tokenproof's tech will likely integrate deeper into major NFT ecosystems like Bored Ape Yacht Club, expanding secure verification for high-profile events and perks.[1] Trends like token-enabled commerce, AI-driven personalization, and multi-chain interoperability will shape its path, potentially scaling to millions via Yuga's network. Its influence may evolve from startup innovator to core Web3 infrastructure, redefining how digital ownership unlocks real value and drawing more mainstream brands into on-chain engagement. Tokenproof proves NFTs can be practical keys—not just collectibles—unlocking Web3's untapped utility.
