Bored Ape Yacht Club Creators Raised $450M for a Metaverse Project
Bored Apes continue overtaking the NFT space. Along with the launch of ApeCoin, the official token of the Bored Ape Yacht Club, the NFT project raised $450 million in funds to begin the metaverse project called ‘Otherside’. The fundraising was led by private American venture capital firm Andreessen Horowitz.
The funding round included giant technology and investment companies, such as Animoca Brands, MoonPay, LionTree, Sound Ventures, Thrive Capital, and FTX Trading. Other investors include celebrities Snoop Dogg, Gunna, Timbaland, Shaquille O’Neal, and Steve Aoki.
Otherside aims to create a world where many different NFTs, such as CryptoPunks, Cool Cats, World of Women, Bored and Mutant Apes, could all interact in one space.
“Already, a new economy is possible with the IP of Apes, Punks, and Meebits, owned by the community. 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,” said Nicole Muniz, the CEO of Yuga Labs.
According to Bloomberg, Yuga Labs plans to fund the expansion of its development team and use funds for joint ventures and partnerships.
After the funding round, the value of Yuga Labs is set to be $4 billion.
Read related posts:
- A Bored Ape valued at $200,000 just sold for $200
- KuCoin Launches Creators Fund
- Madonna Joins the Metaverse with a Bored Ape Yacht Club NFT
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
