Yuga Labs, the entity behind one of the most popular non-fungible token collections, Bored Ape Yacht Club, is reportedly negotiating financing talks with Andreessen Horowitz, which could potentially value the startup as high as $5 billion.report on Thursday , anonymous people familiar with the matter revealed that the BAYC creators are looking to sell a multi-million dollar stake to investors.
The unknown sources stated that leading venture capital firm Andreessen Horowitz is among the firms that could be involved in the funding round. However, neither Yuga Labs nor a16z has made any official comments on the matter. Meanwhile, the deal would bring the startup’s valuation to between $4 billion and $5 billion, according to the FT report.the terms could still change, and any discussions might not lead to a deal.”is a collection of 10,000 unique Bored Ape NFTs, which are digital collectibles built on the Ethereum blockchain.
A contributing factor to BAYC’s popularity is the caliber of celebrities who hold such NFTs. Notable names include Tennis star
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Source: CoinDesk - 🏆 291. / 63 Read more »