Report: Andreessen Horowitz Seeks an Investment in Bored Ape Yacht Club.
06 Feb 2022, 08:00
Report: Andreessen Horowitz Seeks an Investment in Bored Ape Yacht Club
Two reports claim that the creators of the popular non-fungible token (NFT) project Bored Ape Yacht Club (BAYC) are in talks of raising funds from investors such as the venture capital firm Andreessen Horowitz. The alleged funding round is expected to be around $200 million, but sources further say “the deal is not yet closed.”
Bored Ape Yacht Club’s Yuga Labs in Talks of Raising $200 Million, Multiple Sources SayAccording to the news outlet Axios, the Bored Ape Yacht Club (BAYC) creators have been in talks of raising funds from investors. Axios contributors Kia Kokalitcheva, and Dan Primack write that the investment firm Andreessen Horowitz “is in advanced talks to lead a large funding round for Yuga Labs.”
Yuga Labs created the BAYC NFT project alongside the associated NFT collections like Mutant Ape Yacht Club (MAYC). There are 10,000 NFTs, in the case of BAYC, and each ape has different properties.