Yuga Labs, the firm behind the multimillion-dollar monkey JPEGs that many NFT doubters despise, revealed Tuesday that it had secured $450 million from Andreessen Horowitz at a $4 billion value. The Miami-based NFT business behind Bored Apes Yacht Club has never raised money before, despite the fact that the startup has long attracted the interest of venture capitalists looking to support a big participant in the NFT craze. Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, and MoonPay are among the other investors in the round.
Yuga Labs is extending its stake in the market. The business revealed earlier this month that it has purchased the assets of prominent NFT projects CryptoPunks and Meebits from Larva Labs. The company has also just launched ApeCoin, in which the founders and executives have a significant investment. On its first day of trading, the token amassed a multibillion-dollar market cap. The company plans to leverage this momentum into its own version of the metaverse, dubbed “Otherside,” which will include avatars from a variety of different NFT initiatives.
Yuga Labs, the firm behind the multimillion-dollar monkey JPEGs that many NFT doubters despise, revealed Tuesday that it had secured $450 million from Andreessen Horowitz at a $4 billion value. The Miami-based NFT business behind Bored Apes Yacht Club has never raised money before, despite the fact that the startup has long attracted the interest of venture capitalists looking to support a big participant in the NFT craze. Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, and MoonPay are among the other investors in the round.
Cryptocurrency and blockchain academic research has already begun to gain traction, with prominent institutions across the world doing cutting-edge study on the subject. This study summarizes two major blockchain research publications, one on Ethereum’s EIP-1559 (by Duke University and Peking University) and the other on Initiative Hamilton, a cooperative research project on central bank digital currencies by the Boston Fed and MIT DCI (CBDCs). The EIP-1559 document provides answers to three major issues about EIP-1559’s impact on Ethereum transaction costs, transaction waiting time, and security. The Boston Fed and MIT DCI have made significant progress in developing a high-performance payment processing system for CBDCs, as detailed in the Project Hamilton document.
