Bored Ape Yacht Club Creators in Funding Talks With Andreessen Horowitz: Report

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Yuga Labs, the startup behind Bored Ape Yacht Club, is in talks with venture capitalist Andreessen Horowitz (a16z) on a financial round that would be valued at as much as $ 5 billion. the Financial Times reported Thursday.

  • Yuga Labs is talking about selling a multimillion-dollar investment with a16z among the companies it is suing, the FT said, citing people familiar with the discussions.
  • Bored Ape Yacht Club, a collection of 10,000 algorithmically generated images of cartoon monkeys minted and sold as unbreakable tokens (NFTs) on the Ethereum blockchain, counts. score of celebrities as ownersincluding Paris Hilton and Steph Curry.
  • Most recently rapper Eminem bought one at OpenSea for 123.45 ETH ($ 319,000).
  • Formerly an early investor in Facebook, Twitter, Airbnb and Stripe, a16z has invested heavily in the cryptocurrency industry, recently telling investors that it is looking to raise $ 3.5 billion for a new cryptocurrency venture fund.

Read more: A16z Publishes Website 3 Policy Proposal for World Leaders

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