The developer of the Bored Ape Yacht Club collection wants to release a cryptocurrency

So far, the purpose of a special token that is planned to be issued to the owners of the NFT collection remains unknown

06.02.2022 - 07:40

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What’s new? Yuga Labs, the creator firm behind the Bored Ape Yacht Club NFT collection, is in talks with investment fund Andreessen Horowitz (a16z) over a funding round that could raise the developer’s valuation to $5 billion. The terms of the deal may still be subject to change as the parties discuss details, the Financial Times reports.

Information on the Financial Times website

What is known about the project? At the time of writing, neither a16z nor Yuga Labs have commented on the news of the investment and launch of the cryptocurrency. So far, the purpose of a special token that the developer plans to issue to the owners of the NFT collection remains unknown.

What is known about the collection? Bored Apes is among the most popular NFTs. Singer Justin Bieber has acquired a Bored Ape token for $1,29 million. And in 2021, another NFT was sold for $3,4 million at a Sotheby’s auction. On the OpenSea marketplace, the Bored Ape Yacht Club collection is considered one of the most expensive at the moment. The minimum price per image is 99,3 ETH (~$281 000) and the total turnover was 382 200 ETH (over $1 billion).

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