Tuesday, June 14, 2022

"Bored Apes NFT Creator Yuga Raises $450 Million From Andreessen, Animoca"

I was thinking of this story yesterday and dug it out of the link-vault. Here are the first couple paragraphs via BNN Bloomberg, March 22, 2022: 

Yuga Labs, the creator of the Bored Apes Yacht Club collection of NFTs, said it has raised $450 million in a funding round led by Andreessen Horowitz while it begins a metaverse project. 

Other investors included Animoca Brands, its subsidiary The Sandbox and the crypto exchange FTX Trading Ltd. Yuga said in a statement that the round values the firm at $4 billion. Andreessen and Animoca have already emerged as big beneficiaries of a Bored Apes-related cryptocurrency, ApeCoin, which debuted last week....

On a related note, when things go "no-bid" you can say they are unchanged.

Also BNN Bloomberg, this time June 13, 2022:

Bored Ape NFTs Face Steep Declines in Broad Cryptoasset Rout

....The NFT market had been a bright spot relative to the rest of assets in the crypto space during the market rout. Investors have built substantial portfolios of NFTs in the past six months despite their low liquidity compared to fungible tokes like Bitcoin and Ether....