Bored Ape?s Yuga Labs Raised US$450M in Funding at US$4B Valuation
With the fresh funds raised, the startup is looking to build its own metaverse called ?Otherside?.
The post Bored Ape’s Yuga Labs Raised US$450M in Funding at US$4B Valuation appeared first on LUXUO.
Yuga Labs, the creators of the ?Bored Ape Yacht Club? series of NFTs, has raised US$450 million in funding and the startup is valued at US$4 billion. Andreessen Horowitz led the fundraising and included gaming studio Animoca Brands, crypto firms Coinbase and Moonpay, and others.
Before this announcement, Yuga Labs had already started consolidating its position within the NFT world. It has acquired CryptoPunks and Meebits from Larva Labs. This move essentially placed three of the most lucrative NFT collections under one roof. Aside from owning these digital assets, these new additions will enable Yuga Labs more options when creating their own game and metaverse.
View this post on Instagram A post shared by Bored Ape Yacht Club (@boredapeyachtclub)
READ MORE: Top 5 Most Expensive NFTs in 2021
According to The Verge, ?The team behind Bored Ape Yacht Club plans to use the money to build a media empire around NFTs, starting with games and its own metaverse project.? Yuga Labs is planning to create its metaverse project, and the team has named it ?Otherside?, which aims to connect to the broader NFT universe.
See you on the Otherside in April. Powered by @apecoin pic.twitter.com/1cnSk1CjXS— Yuga Labs (@yugalabs) March 19, 2022
Wy...
The post Bored Ape’s Yuga Labs Raised US$450M in Funding at US$4B Valuation appeared first on LUXUO.
Yuga Labs, the creators of the ?Bored Ape Yacht Club? series of NFTs, has raised US$450 million in funding and the startup is valued at US$4 billion. Andreessen Horowitz led the fundraising and included gaming studio Animoca Brands, crypto firms Coinbase and Moonpay, and others.
Before this announcement, Yuga Labs had already started consolidating its position within the NFT world. It has acquired CryptoPunks and Meebits from Larva Labs. This move essentially placed three of the most lucrative NFT collections under one roof. Aside from owning these digital assets, these new additions will enable Yuga Labs more options when creating their own game and metaverse.
View this post on Instagram A post shared by Bored Ape Yacht Club (@boredapeyachtclub)
READ MORE: Top 5 Most Expensive NFTs in 2021
According to The Verge, ?The team behind Bored Ape Yacht Club plans to use the money to build a media empire around NFTs, starting with games and its own metaverse project.? Yuga Labs is planning to create its metaverse project, and the team has named it ?Otherside?, which aims to connect to the broader NFT universe.
See you on the Otherside in April. Powered by @apecoin pic.twitter.com/1cnSk1CjXS— Yuga Labs (@yugalabs) March 19, 2022
Wy...
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