Yuga Labs, the start-up behind Bored Ape Yacht Club, is in talks with venture capital heavyweight Andreessen Horowitz (a16z) about a funding round that would value it at up to €XNUMXbn, according to the Financial Times.
- Yuga Labs is in talks to sell a million-dollar stake in a16z among the companies it is courting, the FT said, citing people familiar with the talks.
- Bored Ape Yacht Club, a compilation of ten algorithmically generated images of cartoon monkeys minted and sold as non-fungible tokens (NFTs) on the Ethereum blockchain, is owned by around twenty celebrities, including Paris Hilton and Stephen Curry.
- More recently, rapper Eminem bought one on OpenSea for one hundred and twenty-three and forty-five ETH (three hundred and nineteen zero US dollars).
- Previously an early investor in Facebook, Twitter, Airbnb, and Stripe, a16z has invested heavily in the cryptocurrency industry, most recently telling investors he was seeking to raise €5 billion for a new venture capital fund. .
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