It is said to be seeking investment from companies such as Andreessen Horowitz (a16z), the creators of the popular NFT collection Bored Ape Yacht Club.
Yuga Labs, the organization behind Bored Ape Yacht Club, is reportedly in financing talks with Andreessen Horowitz (a16z) at a valuation of $5 billion.
According to the Financial Times, unidentified individuals reported that the creators of BAYC wanted to sell a multi-million dollar stake to investors.
Unidentified sources indicated that leading venture capital firm Andreessen Horowitz (a16z) is among the firms that may be included in the funding round. Andreessen Horowitz has previously been involved in the field by investing in several cryptocurrency companies.
Yuga Labs and a16z did not make any official statements on the subject. Meanwhile, the deal will bring the startup’s valuation between $4 billion and $5 billion, according to the FT report.
However, sources with knowledge of the deals said terms could still change and a deal might not result in any discussion.
Popularity of Bored Ape Yacht Club
Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs built on the Ethereum blockchain. BAYC was launched by a group of anonymous developers and as of January 2022 it is the most expensive collection at base price.
We can say that another factor contributing to the popularity of BAYC is the famous names that buy these NFTs. Tennis star Serena Williams, rap icon Eminem and popular football player Neymar Jr. Many famous names, such as BAYC NFT, buy the NFT image of their Twitter profile photo.
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