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Snoop Dogg, Google Ventures and Samsung join a $450 million seed funding round for Yuga Labs, the Web3 firm behind Bored Ape Yacht Club

Web3 platform Yuga Labs has closed a $450 million seed funding round led by a16z Crypto.

Yuga Labs is a Web3 platform behind the popular NFT series Bored Ape Yacht Club, a collection of 10,000 Bored Ape NFTs.

Last week, Universal music group‘s Web3 label 10:22 p.m Bought a Bored Ape NFT for over $350,000.

The funding round values ​​Yuga Labs at $4 billion.

The round featured top-tier game studios like Animoca Brands and its subsidiary The Sandbox, strategic partners like LionTree, Sound Ventures and Thrive Capital, and prominent crypto platforms like FTX and MoonPay.

other investors named by Yuga Labs These include artists such as Snoop Dogg, Timbaland, 3LAU, Steve Aoki and Gunna, as well as tech giant Samsung.

The company’s funding announcement also follows news earlier this month that Yuga Labs acquired CryptoPunks and Meebits from Larva Labs.

CryptoPunks and Meebits are also popular collections of non-fungible tokens (NFT) on the Ethereum blockchain.

Now that Yuga Labs has raised over $450 million, it plans to use the funds to scale its “rapidly growing team, attracting the best talent in creative, technical and operational roles, and for proposed joint ventures and partnerships.”

Additionally, on Friday, the company unveiled plans for a new Metaverse project to go by the name Other side.

Yuga Labs in October signed with Madonna manager Guy Oseary for substitution.

“Already a new economy is possible with the IP of Apes, Punks and Meebits owned by the community.”

Nicole Muniz, Yuga Labs

“With the IP of Apes, Punks and Meebits owned by the community, a new economy is already possible,” said Nicole Muniz, CEO of Yuga Labs.

“The possibilities for blockchain’s impact on culture are endless, and that’s why we’re building a beautiful, interoperable world for people to explore and play in. Its a lot to do.”

“Yuga Labs has quickly grown into a Web3 culture, gaming and entertainment empire.”

Chris Lyons, 16z crypto

Chris Lyons, General Partner at a16z crypto, said: “Yuga Labs has rapidly grown into a Web3 culture, gaming and entertainment empire.

“Mainstream adoption in web3 is accelerating at lightning speed, and Yuga is at the forefront of merging culture and innovation so everyone can enter the Metaverse.

“We are thrilled to invest in this brilliant team and their vision, and to help forge the next frontier in community-owned entertainment.”

“This capital will accelerate Yuga’s time-to-market of many things and attract new partners with strategic thinking who share the vision.”

Guy Osary

Guy Oseary, Partner at Yuga Labs said, “This capital will accelerate Yuga’s time-to-market for many things and attract new partners with strategic thinking who share the vision.”music business worldwide

https://www.musicbusinessworldwide.com/snoop-dogg-google-ventures-and-samsung-join-450m-seed-funding-round-for-yuga-labs-the-web3-firm-behind-bored-ape-yacht-club/ Snoop Dogg, Google Ventures and Samsung join a $450 million seed funding round for Yuga Labs, the Web3 firm behind Bored Ape Yacht Club

Fry Electronics Team

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