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.
