Advisers
Learn
Newsletter
Offers
Podcast
About
  Back
~
2
min read
· Posted on
February 21, 2024

Yuga Labs just raised US$450 million in its seed round

The Bored Ape Yacht Club daddy is using the cash to take us to the Yugaverse.

What's the key learning?

  • One of the best-known venture capital firms just led Yuga Labs' US$450 million capital raise
  • The capital raise values Yuga Labs at over US$4 billion, and it's all part of its plan to create the NFT metaverse of all metaverses
  • Yuga Labs reckons its combination of storytelling, pop culture and fun is the knockout-metaverse-punch.

Background: Yuga Labs owns some of the biggest NFT brands on the market: Bored Ape Yacht Club and, just recently, CryptoPunks and Meebits.

 

What happened: We know NFTs are hot property RN. The cheapest Ape NFT is worth over US$300,000. So, we can see why one of the best-known venture capital firms just led Yuga Labs' US$450 million capital raise.

 

What else: The capital raise values Yuga Labs at over US$4 billion, and it's all part of its plan to create the NFT metaverse of all metaverses.

 

🔔 What's the key learning?

 

💡In the metaverse, you've got a few different players. You've got Facebook... Amazon... ya know, 'centralised' metaverses, where the company controls everything - including any profits.

 

💡 We've also got 'decentralised' metaverses like Sandbox and Decentraland, where everyone can own digital assets. But Yuga Labs plans to create a metaverse that makes both of these kinds of metaverses obsolete.

 

💡Yuga Labs reckons its combination of storytelling, pop culture and fun is the knockout-metaverse-punch. And it doesn't hurt having the biggest investor in the world on your side!

‍

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

Sign Up
A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
© 2024 Flux Technologies Pty Ltd and Flux Media Pty Ltd
All rights reserved.
Explore
HomeLearnPodcastAboutNewsletterFlux at WorkAdvisers
Offers
Home LoansSavings AccountsBank AccountsShare TradingCar LoansCredit Cards
Support
CareersContact usPrivacy PolicyTerms of Use
Disclaimer: Flux Technologies Pty Ltd (ABN 86 634 507 172) is an authorised representative (Representative No. 1283166) of Mozo Pty Ltd who is the holder of AFSL No. 328141. We also provide general advice on credit products under our own Australian Credit Licence No. 530103. The product information presented does not constitute an offer and we are not recommending or suggesting any particular product. Any product advice presented is of a general nature only, and is not to be taken as any sort of advice as it has not taken into account your personal circumstances, objectives, financial situation or needs. Flux may not cover all products available to you. Check out our Credit Guide and Financial Services Guide for more information.

All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
No items found.