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