Bored Apes creator Yuga Labs raises $450 million in round led by a16z: report
Yuga Labs, the creator of the Bored Ape Yacht Club NFT collection, has reportedly completed the raise of a $450 million funding round.
The fundraise, reported by The Verge, values the firm at $4 billion. Leading the round was Andreessen Horowitz, which per earlier reports has been circling a Yuga Labs fundraise. Other contributors include Animoca Brands, Coinbase and MoonPay.
The Financial Times had previously reported that Yuga Labs was raising funds at a multibillion-dollar valuation.
The funding comes as the company and its broader NFT ecosystem commence an ambitious agenda, including the planned creation of a gaming-focused virtual world dubbed Otherside. Last week, a standalone cryptocurrency, dubbed ApeCoin, was launched.
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Author: Michael McSweeney
