Yuga Labs: Last News

Todd Spangler NY Digital EditorYuga Labs, the company that created the Bored Ape Yacht Club NFT collection, has raised $450 million in funding that gives it a post-money valuation of $4 billion, the company announced.The round was led by venture-capital firm Andreessen Horowitz’s a16z crypto fund. Other investors joining the round included game studio Animoca Brands and its subsidiary The Sandbox; investment firms LionTree, Sound Ventures and Thrive Capital; and crypto players FTX and MoonPay.The company said it will use the funds to “scale its rapidly growing team, attract the best talent across creative, engineering and operations functions, and for joint ventures and partnerships it has planned.” On Friday, the company teased a new metaverse project, dubbed Otherside, designed to integrate avatars from other NFT projects.

Looks like a good old fashion cash grab celebrity endorsement has become a bit more fraught when it comes to the digital marketplace nowadays.

Todd Spangler NY Digital EditorYuga Labs, the startup behind the mega-popular Bored Ape Yacht Club nonfungible token collection, has acquired the intellectual property of CryptoPunks — a pioneer in the NFT space — and Meebits from Larva Labs.Financial terms weren’t disclosed. Through the pact, Yuga now owns the brands, copyright in the art, and other IP rights for both collections, along with 423 CryptoPunks and 1,711 Meebits NFTs.