Bored Apes NFT startup Yuga Labs raises seed round at monster $4B valuation

Yuga Labs, maker of the multimillion monkey dollar JPEGs that a lot of NFT skeptics love to hate, just raised $450 million in a round of funding.

The startup behind Bored Apes Yacht Club has been courting attention from VCs for a long time and has not previously raised funding. Other investors in the round include Animoca Brands.

Yuga Labs is doubling down. The startup acquired the assets of popular NFT projects. The startup is fresh off the launch of the coin, which has a large stake in it. On the first day of trading, the token had a market cap of billions of dollars. The startup is going to build its own version of the metaverse called Otherside, which will integrateavatars from a number of other NFT projects.

Bored Apes NFT project gets official ‘ApeCoin’ token