Yuga Labs Raises $450 Million at $4 Billion Valuation

Yuga Labs is a marketer of NFT brands. It is a startup behind Bored Apes Yacht Club, the collection of unique digital collectibles n the Ethereum blockchain. This round is the first for the company, before that it has not raised funds.

The funding round was led by Andreessen Horowitz. Among other investors were Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, and MoonPay. Investments from one of the biggest-ever valuation seed rounds will be used to attract the best talents for operations, engineering, and creative functions. As well as for partnerships and joint ventures.

Yuga Labs, Miami-based, was founded by Wylie Aronow and Greg Solano in 2021. The company CEO is Nicole Muniz.  Now, it plans to create its own media empire starting with metaverse projects and games. The project is called Otherside, the timeline of launching is not revealed. It is known that the projects will be not only for Bored Ape holders but special tools will also be provided to allow other NFTs to work inside the world. The Yuga Labs NFT collections have over 40 000 users. Recently, it acquired CryptoPunks and Meebits from Larva Labs – another step to consolidate the NFT space.

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