Yuga LaboratoriesThe company, the maker of the millions of monkey JPEGs that many NFT skeptics love to hate, just raised $450 million in funding from Andreessen Horowitz at a $4 billion valuation, the company announced Tuesday.
The Miami NFT company behind Bored Apes Yacht Club has never raised funding before, although the startup has long attracted the attention of venture capital firms eager to back major players in the NFT craze. Additional investors in this round include Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX and MoonPay
The status of Yuga Labs is getting higher and higher. Earlier this month, the startup announced that it had acquired the assets of popular NFT projects CryptoPunks and Meebits from Larva Labs. The startup, which also just launched ApeCoin, has a large stake in the company’s founders and executives. The coin gained a multi-billion dollar market cap on its first day of trading. The startup soon hopes to incorporate that momentum into its own version of Metaverse, dubbed “other side,” which will also integrate avatars from many other NFT projects.