Bored Apes creator Yuga Labs raises $450 million in round led by a16z: report

Yuga Labs, the creator of the Bored Ape Yacht Club NFT collection, has reportedly completed the raise of a $450 million funding round.

The fundraise, reported by The Verge, values the firm at $4 billion. Leading the round was Andreessen Horowitz, which per earlier reports has been circling a Yuga Labs fundraise. Other contributors include Animoca Brands, Coinbase and MoonPay.

The Financial Times had previously reported that Yuga Labs was raising funds at a multibillion-dollar valuation. 

The funding comes as the company and its broader NFT ecosystem commence an ambitious agenda, including the planned creation of a gaming-focused virtual world dubbed Otherside. Last week, a standalone cryptocurrency, dubbed ApeCoin, was launched.