Bored Apes Creator Raises $450M in Seed Round, Hits $4B Valuation

Yuga Labs, the creator of the popular NFT collection Bored Ape Yacht Club has raised $450 million in funding at a $4 billion valuation, the company announced today. The seed round was led by Andreessen Horowitz’s new fund, a16z crypto venture firm. Other investors to participate in the round included Animoca Brands, The Sandbox, LionTree, Sound Ventures, Thrive Capital, FTX, MoonPay among others. The company plans to use the funds to “scale its rapidly growing team, attract the best talent across creative, engineering and operations functions, and for joint ventures and partnerships it has planned.” “Already, a new economy is possible with the IP of Apes, Punks, and Meebits, owned by the community,” said Nicole Muniz, CEO of Yuga Labs. “The possibilities for blockchain’s impact on culture are endless, and so we are building a beautiful, interoperable world for people to explore and play in. There’s a lot to come.” The funding news comes less than two weeks after Yuga Labs announced the acquisition of the intellectual property of CryptoPunks and Meebits from Larva Labs. A week later, the company launched ApeCoin, a cryptocurrency that will be governed independently as a decentralized autonomous organization (DAO).The post Bored Apes Creator Raises $450M in Seed Round, Hits $4B Valuation appeared first on Cryptoknowmics-Crypto News and Media Platform.