Bored Ape Yacht Club creator raises $450 million to build metaverse project | #NFT #CryptoCurrency #ApeCoin #Otherside #BAYC 



Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT, has announced it is raising $450 million at a $4 billion valuation. The NFT company said the funds would be used to scale its team and operations, which it confirmed includes a new metaverse project called Otherside.

The metaverse project, Otherside, will integrate avatars from a number of NFT projects, including BAYC. Earlier this week, Yuga Labs tweeted a teaser that a metaverse project powered by its new ape-themed crypto coin, Ape Coin was in the works.

Among the investors are Andreessen Horowitz along with gaming studio Animoca Brands and cryptofirms FTX which are both already associated with YugaLabs.

Google, Samsung, Adidas as well as celebrities such as Colin Kaepernick, Shaquille O’ Neal, Steve Aoki, and Timbaland among others also invested in the funding round.


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