Yuga Labs, the developer of the popular NFTs collection Bored Ape Yacht Club (BAYC), has just reached a $4 billion valuation after raising $450 million in a funding round.
The funding round was reportedly led by venture capital firm Andreessen Horowitz. In addition, Animoca Brands, LionTree, Sound Ventures, Thrive Capital, FTX, MoonPay and others have also taken part in it.
The company intends to use the funds raised to expand its team and fund future developments, including the Otherside metaverse.
The Verge has reported the company plans to create a fully decentralized gamified MMORPG world.
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The company has previously released a preview of Otherside featuring the heroes of NFTs BAYC, CryptoPunks and Meebits projects.
Otherside is expected to launch in April with the participation of blockchain game publisher Animoca Brands, owner of the popular virtual world The Sandbox.
Yuga Labs launched last March 17 the trading of the crypto ApeCoin, which will become the main asset not only for the ecosystem of the NFT project, but also for future products of the company.