Bored Ape Yacht Club keeps signing up money
The Future. Leading NFT brand Bored Ape Yacht Club and leading crypto-investing VC firm Andreessen Horowitz (a16z) may join forces. An investment from a16z may give BAYC a major boost to expand its in-person, experiential events in a way that solidifies the real-world value of digital-asset ownership.
Where there are NFTs, there’s a16z.
- Yuga Labs, the creator of BAYC, is in talks with a16z to lead a multi-million dollar funding round that would value the company at $5 billion.
- It would be the first institutional investment into Yuga Labs, which has quickly set itself apart as one of the most successful companies in the NFT space.
An investment from a16z would come as BAYC has expanded past simply selling JPEGs of apes ($182.4 million in sales) to collabs with major brands such as adidas and hosting exclusive parties, with the Bored Apes acting as membership tokens.
Meanwhile, a16z has become the most bullish VC in the crypto and NFT space, recently announcing its plan to raise $4.5 billion for another crypto fund… which would be the largest fund in the world.