Skip to content
Digital Marketing Specialist in Singapore
Menu
  • About Me
  • Contact Me
  • My Blogs
  • Take up a Task
  • WordPress course for Singapore
  • Digital Marketing Agency Singapore – Hire us
  • Advance Search
Menu

Bored Ape Yacht Club NFT price – NFT creator Yuga Labs raises $450M, bringing company valuation to $4B

Posted on March 23, 2022March 23, 2022 by YWBanu
Bored Ape Yacht Club NFT price

Current price104.89 (US$308,735.32)

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC) and new owners of the CryptoPunks and Meebits brands, announced it is now valued at $4 billion after its latest $450 million seed funding round.

VC firm Andreessen Horowitz, or a16z, led the company’s first institutional investment, marking one of the largest seed rounds for any nonfungible token (NFT) collection to date.

The Miami-based NFT firm behind Bored Apes Yacht Club has not previously raised funding, though the startup has long been courting attention from VCs eager to back a major player in the NFT craze. Other investors in the round include Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX and MoonPay. ( Bored Ape Yacht Club NFT price on Opensea. )

Yuga Labs is increasingly doubling down on its position. Earlier this month, the startup announced it had acquired the assets of popular NFT projects CryptoPunks and Meebits from Larva Labs. The acquisition put three of the most lucrative NFT collections under one roof — and gave Yuga Labs a bigger roster of IP to pull from when crafting its game and metaverse plans.

The startup is also fresh off the launch of ApeCoin, which the startup’s founders and executives have a substantial stake in. The token gathered a multibillion-dollar market cap on its first day of trading. 

The startup is soon looking to build this momentum into its own version of the metaverse called “Otherside,” which will also integrate avatars from a number of other NFT projects.

The team describes its metaverse project, called Otherside, as an MMORPG meant to connect the broader NFT universe. They hope to create “an interoperable world” that is “gamified” and “completely decentralized,” says Wylie Aronow, a co-founder of Bored Ape Yacht Club who goes by the pseudonym Gordon Goner. “We think the real Ready Player One experience will be player run.”

Yuga Labs is partnering with “a few different game studios” to bring Otherside to life, says CEO Nicole Muniz. The game won’t be limited to Bored Ape holders, and the company plans to create development tools that allow NFTs from other projects to work inside their world. “We’re opening the door to effectively a walled garden and saying ‘Everybody’s welcome.’”

As a leading NFT brand, Yuga Labs—which created the Bored Ape Yacht Club (BAYC) NFTs and recently acquired the CryptoPunks and Meebits IP from Larva Labs—is looking to further expand its presence. With its new funding, Yuga plans to hire more employees and develop brand partnerships.

An NFT is a digital asset that uses blockchain technology to record who owns a digital object such as an image, video, or in-game item. Bored Apes NFTs are often used as profile pictures on social media.

Sales of NFTs reached $25 billion in 2021, compared to just $94.9 million the year before, data from market tracker DappRadar shows.

However, even as NFTs attract fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt, some have questioned why so much money is spent on items that do not physically exist.

The official announcement of the funding caps off what has been a monumental two weeks for Yuga Labs. The company acquired the intellectual property of rival blue-chip NFT project CryptoPunks on March 11 and on March 16 the Bored Ape Yacht Club-linked ApeCoin (APE) token launched by proxy. ApeCoin now boasts a $12 billion market cap, according to data from CoinMarketCap.

Leave a Reply Cancel reply

You must be logged in to post a comment.

 10-Day Blogging Masterclass: From Zero to AdSense Approval by Winner Banu
10-Day Blogging Masterclass: From Zero to AdSense Approval by Winner Banu

Just $0.99! Get a popular domain today!

Welcome to YWBANU.com

Remote Jobs in Singapore
Earn $20 per day
Write and Earn $10 per Week

Winner Banu

  • About Me
  • Contact Me
  • Publish Your Article and Earn
  • My Blogs
  • My Youtube Videos
  • Rank Your YouTube Video to achieve fame
  • Promote YouTube Channel For Free
  • Promoting YouTube Channel
  • Privacy & Policy
  • Terms & Conditions
  • Disclaimer

Recent Posts

  • 10-Day Blogging Masterclass: From Zero to AdSense Approval
  • LinkConnector Review: An Affiliate Network for Marketers and Brands
  • AI-Powered Blogging Communities: The Future of Digital Content Creation in 2024
  • 10 Unique Ways to Earn Money Online in Singapore in 2024
  • How to Turn Blogging into a Full-Time Income: Strategies for Success
  • Blogging in 2024: Navigating the Future of Content Creation and Monetization
  • Step by step guide to apply for Google AdSense Account on your Blog
  • How to make passive income on Audible using AI
  • Keyword Golden Ratio Free Online Calculator
  • How to earn money online in Singapore in 2024

Categories

  • Affiliate matters
  • Business matters
  • News
  • Personal Blogs
  • Website Matters
  • Youtube matters

Recent Comments

  • How to Turn Blogging into a Full-Time Income: Strategies for Success on The difference between marketing and advertising
  • How to Turn Blogging into a Full-Time Income: Strategies for Success on How to make passive income on Audible using AI
  • How to Turn Blogging into a Full-Time Income: Strategies for Success on Best affiliate marketing platforms – Linkconnector Review
  • Blogging in 2024: Navigating the Future of Content Creation and Monetization on The Seven-Figure Digital Marketing Agency Jobs Roadmap
  • Blogging in 2024: Navigating the Future of Content Creation and Monetization on Getting paid to write articles

My Latest Youtube Video

  • Affiliate matters (53)
  • Business matters (40)
  • News (63)
  • Personal Blogs (157)
  • Website Matters (51)
  • Youtube matters (7)

Archives

  • September 2024 (3)
  • August 2024 (3)
  • July 2024 (1)
  • February 2024 (1)
  • December 2023 (1)
  • November 2023 (1)
  • October 2023 (3)
  • August 2023 (1)
  • July 2023 (1)
  • June 2023 (5)
  • May 2023 (2)
  • April 2023 (3)
  • March 2023 (6)
  • February 2023 (6)
  • January 2023 (6)
  • December 2022 (4)
  • November 2022 (3)
  • October 2022 (4)
  • September 2022 (7)
  • August 2022 (8)
  • July 2022 (11)
  • June 2022 (5)
  • May 2022 (10)
  • April 2022 (5)
  • March 2022 (8)
  • February 2022 (5)
  • January 2022 (3)
  • December 2021 (9)
  • November 2021 (3)
  • October 2021 (6)
  • September 2021 (13)
  • August 2021 (10)
  • July 2021 (9)
  • June 2021 (3)
  • May 2021 (1)
  • April 2021 (39)
  • March 2021 (15)
  • February 2021 (3)
  • December 2020 (2)
  • November 2020 (2)

Recent Posts

  • 10-Day Blogging Masterclass: From Zero to AdSense Approval
  • LinkConnector Review: An Affiliate Network for Marketers and Brands
  • AI-Powered Blogging Communities: The Future of Digital Content Creation in 2024
  • 10 Unique Ways to Earn Money Online in Singapore in 2024
  • How to Turn Blogging into a Full-Time Income: Strategies for Success
  • Blogging in 2024: Navigating the Future of Content Creation and Monetization
  • Step by step guide to apply for Google AdSense Account on your Blog
  • How to make passive income on Audible using AI
  • Keyword Golden Ratio Free Online Calculator
  • How to earn money online in Singapore in 2024
  • World of Digital Mastery : #1 SEO Courses in Tamil from Singapore
  • How to write SEO optimized content for Maximum SEO Impact (Cracking the Code!)
  • How to Get Digital Marketing Jobs in Singapore
  • Becoming a Digital Marketing Specialist in Singapore – Job description
  • Digital marketing agency in Singapore by a Freelancer
  • About Me
  • Contact Me
  • Publish Your Article and Earn
  • My Blogs
  • My Youtube Videos
  • Rank Your YouTube Video to achieve fame
  • Promote YouTube Channel For Free
  • Promoting YouTube Channel
  • Privacy & Policy
  • Terms & Conditions
  • Disclaimer
Copyright © 2024 Digital Marketing Specialist in Singapore. All Right Reserved.