Yuga Labs Closes $450M Funding Round Bringing Valuation to $5B

After the launch of ApeCoin and a new Yugaverse, the valuation of top NFT lab soars.

By
Samir Mourani
on
March 24, 2022
Category:
NFT

Yuga Labs Skyhigh Valuation

Yuga Labs announced its most recent Series Seed funding round, raising a whopping $450 million. 

The funding round––details released in a March 22 press release––was led by a16z crypto with participation from popular game studios Animoca Brands and its subsidiary the Sandbox. Other partners included LionTree, Sound Ventures, Thrive Capital, FTX, and MoonPay. 

“Already, a new economy is possible with the IP of Apes, Punks, and Meebits owned by the community,” notes Nicole Muniz, CEO of Yuga Labs. “The possibilities for blockchain’s impact on culture are endless, and so we are building a beautiful, interoperable world for people to explore and play in. There’s a lot to come.”

The funding round gives YugaLabs a valuation upwards of $4 billion USD. The project also announced its own metaverse project––entitled Yugaverse––on March 18. The Yugaverse development will seek to attract top talent and surely played a part in driving up the protocol's valuation. The Yugaverse will be tied to the recently launched ApeCoin as well.

 “Yuga Labs has quickly become a web3 culture, gaming, and entertainment empire,” Chris Lyons, general partner at a16z crypto added. “Mainstream adoption in web3 is accelerating at lightning speed, and Yuga is at the forefront of merging culture and innovation for everyone to enter the metaverse. We’re thrilled to invest in this brilliant team and their vision, and help forge the next frontier of community-owned entertainment.”

What Is Yuga Labs?

Yuga Labs is a web3 platform building what’s next, most known for the creation of the Bored Ape Yacht Club and its recent acquisition of CryptoPunks and Meebits. Yuga Labs is one of the top marketers of NFT brands and has created some of the world’s most popular NFT projects.

Where to find Yuga Labs:

Website | Twitter |

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Samir Mourani

Samir Mourani is an entrepreneur and digital content creator. Samir is a crypto enthusiast and world traveller. He holds bags mostly in ETH, BTC, and BSC projects.

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