Bored Ape Yacht Club creator reportedly in investment talks with 16z

Bored Ape Yacht Club creator reportedly in investment talks with 16z
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The Bored Ape NFTs have been the talk of the town lately, for various reasons. Recently, on 3rd February, 2022, the team that created Bored Ape Yacht Club– California-based Andreessen Horowitz is reportedly, supposed to be in investment talks with Yuga Labs. The potential investment by the said venture capital firm in Yuga Labs values to around $5 billion. A venture capital firm provides initial investment in a startup and then when the startup takes off, its sales it stakes for a much higher profit. 

An unattributed source reportedly told the Financial Times about this information, not yet confirmed, that the Bored Ape Yacht Club creator is raising funds from venture capital firms, according to the Financial Times’ report on Thursday. The undisclosed sources mentioned that Andreessen Horowitz is one of many venture capitalists to look out for a ‘multi-million dollar’ stake in the creator of Bored Ape Yacht Club, the Yuga Labs. The on-the-record, unattributed data also states that Andreessen Horowitz’s investment will confer the Yuga Labs with $4 billion to $5 billion. What gives base to these rumours to circulate so much is that, the same estimated figure was mentioned in the previous similar funding unconfirmed-data, which was shared by NFT Nick, an influencer on a podcast. A twitter user by the handle rdm41 also casually mentioned once that ‘Yuga Labs would offer a stake in its company through an APE token offering’. This also happened not more than a week ago, which makes the information gain momentum. 

Andreessen Horowitz has a reputation of investing in some of the best is performing companies such as Airbnb, Twitter and Facebook. It has been seen that, now the venture capitalist firm is inclining towards the digital assets industry and crypto investments. It also has major stakes in other crypto-related complies like, the crypto exchange Coinbase and the NFT marketplace OpenSea.

Considering all these facts, the supposed rumours are becoming the talk of the town lately. Neither of the two parties, that is Yuga Labs and Andreessen Horowitz have confirmed that said investment talks, so nothing is official yet. 

We at Paypii do not endorse or recommend any form of investments in the crypto industry, or in any other form whatsoever. We are a FinTech news website and we aim to deliver the latest trends in the crypto market, FinTech industry, etc to the reader. The reader is advised to have a thorough study and understanding of their own before investing in these digital assets.

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