- Venture capital Andreessen Horowitz (a16z) leads the round
- Yuga Labs recently acquired intellectual property rights to the NFT collections Crypto Punks and Meebits from Larva Labs.
Yuga Labs has secured virtually unprecedented $ 450 million in seed funding and has given startups a $ 4 billion post-money valuation.
According to Tuesday’s announcement, Yuga Labs, best known as the creator of the popular NFT collection Bored Ape Yacht Club, will use its capital to expand its staff and future partnerships.
The salary increase was led by venture capital firm Andreessen Horowitz (a16z). Other participants included blockchain-based game studios Animoca Brands, The Sandbox, LionTree, Sound Ventures, FTX and MoonPay.
“This capital will allow Yuga to speed up much of the work in progress and bring in new partners with strategic thinking to share a vision,” said Guy Oseary, a partner at Yuga Labs. It is stated in.
This move follows Yuga Labs’ recent acquisition of commercial rights to the NFT (Non-Fungible Token) collection CryptoPunks and Meebits from Larva Labs. With this integration, Yuga Labs will acquire some of the intellectual property rights of three of the industry’s most profitable crypto assets.
“Already, community-owned apes, punk, and mebit IPs enable a new economy,” said Nicole Muniz, CEO of Yuga Labs, in a statement. “The potential of blockchain’s cultural impact is endless, which is why we are building a beautiful and interoperable world for people to explore and play. There is much more to come.”
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Morgan Chittum Morgan Chittum is a New York-based reporter featuring new Web3 technologies for NFTs, Metaverse, play-to-earning games and other Blockworks. Previously, she was a street reporter reporting crime on the New York Daily News and a media and journalism fellow at the Poynter Institute.Contact Morgan by email [email protected]
