Yuga Labs, the company behind the Bored Ape Yacht Club NFTs, have just raised a $450 Million seed round that values the company at $4 Billion. The round was led by venture capital firm Andreessen Horowitz (A16Z) and features a high-profile list of investors. This group includes celebrities (Snoop Dogg, Steve Aoki, Timbaland, Colin Kaepernick), Web3/Crypto companies (MoonPay, Genies, Sandbox), major funds (Tiger Global, Lightspeed Ventures, SV Angel), corporate VCs (Adidas Ventures, Samsung) and much more.
This equips Yuga Labs with a powerful cross-section of technology and media partners to execute on their vision. Over the last few weeks, Yuga Labs has acquired the IP of two of the biggest NFT projects (CryptoPunks and Meebits), launched ApeCoin $APE Tokens for their community, and released a video trailer for their new metaverse project called 'Otherside.'
A 'leaked pitch deck' that Yuga Labs allegedly presented to A16Z describes the company's plans in more detail. The deck describes building "the interoperable gaming metaverse," future revenue from virtual land sales, financial statements, and their product roadmap. While the deck hasn't been confirmed as real, it's directionally in line with what Yuga Labs has described publicly.
This now makes Yuga Labs one of the most supported, well funded companies in Web3. Yuga Labs might be able to create the first Web3 'media empire,' an assortment of NFTs, games, metaverse worlds, merchandise, and brand collaborations.