The company closed one of the largest fundraisings in NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. history. They plan to use the capital capital is most commonly defined as the large sum of money you would use to invest. to expand the successful monkey brand into the metaverse.
Yuga Labs the creators of the multi-million dollar NFT apes ( tokens non-fungible), they closed a $450 million round of financing that has raised the company’s valuation to $4 billion.
The company behind the popular collectionBored Ape Yacht Club (BAYC) raised the staggering figure in a round led byAndreessen Horowitz (a16z). According to Tech Crunch This is the first fundraising with venture capitalists for the makers of one of the largest NFT collections of all time.
The signaturesAnimoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX y MoonPay also participated in the round, which stands out as one of the largest for a company in the NFT sector to date.
Yuga Labs expands into the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.
The news comes amid a series of major growth announcements for the company. Earlier this month, Yuga Labs announced the acquisition of the popular NFT projects,CryptoPunks y Meebits de Larva Labs . The startup also has just launched ApeCoin (APE) a native token in which the company’s founders and executives have a substantial stake.
More recently, the company previewed plans for what looks like its own metaverse. Called “ Otherside “ The virtual world will be powered by the new APE token and is part of the company’s efforts to expand the brand beyond NFTs.
– Yuga Labs (@yugalabs) March 19, 2022
The latest fundraiser will help Yuga Labs pursue these plans, as reported byThe Verge . The team expects create a ” interoperable world ” let it be ” gamificado ” y “ fully decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. “ said Wylie Aronow, co-founder of Bored Ape Yacht Club to that medium. “ We believe that the real experience of Ready Player One will be executed by the player ”.
For its part, CEO Nicole Muniz revealed that the company is partnering with a few different game studios to bring to life the Otherside . The game will not be limited to the holders of Bored Ape and the company plans to create development tools that allow NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). from other projects to work within its world, according to the media outlet.
The company had already taken a bigger leap into video games. The new token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. of the apes is compatible with Benji Bananas a set ofAnimoca Brandsthe Hong Kong-based game development company that owns nWay . The idea going forward is that APE could be adopted in more video games or even have more general uses as a digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency, the team said.
Rise of the Apes
Founded in 2021, Yuga Labs has had a rapid and successful rise. According to leaked data cited byThe VergeThe company earned $137 million last year, with a staggering 95% profit margin. With a sales volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. of nearly $1.5 billion and more than 10,000 users, its collection ofBored Ape is one of the most popular on the market.
In the last year, the critically acclaimed ‘Boring Apes’ has attracted celebrities such as Justin Bieber , Eminem and Snoop Dogg. In addition, the collection has partnered with renowned brands such as Adidas for a clothing line and a series of virtual products.
The multimillion-dollar valuation has undoubtedly positioned Yuga Labs as one of the biggest players in the NFT space. Just a few months ago, in September 2021, the pioneering company Dapper Labs behind the CryptoKitties and the NBA’s official NFT collection, closed a $250 million round of financing that is estimated to give it a valuation of more than $7 billion.
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Article by Hannah Estefania Perez / DiarioBitcoin
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