Yuga Labs, the owner of three of the top NFT brands including Bored Ape Yacht Club, raises $450M at a $4B valuation led by a16z to build an NFT media empire
In my first newsletter issue “From Corporation to Self-Actualization” … Michael Spencer / Web3 Digest : Bored Ape Yacht Club creator raises $450 million to build an NFT metaverse Nancy Dahlberg / refreshmiami.com : They're all Aped in! Yuga Labs raises $450M at $4B valuation to build NFT metaverse Ornella Hernández / Cointelegraph : NFT creator Yuga Labs raises $450M, bringing company valuation to $4B Duncan Riley / SiliconANGLE : Bored Ape Yacht Club NFT creator Yuga Labs raises $450M on $4B valuation Campbell Kwan / ZDNet : Bored Ape Yacht Club creator raises $450 million to build metaverse project Andrew Throuvalas / CryptoPotato : Yuga Labs Valued at $4 Billion After $450 Million Raise Brooks Butler / Crypto Briefing : Yuga Labs Raises $450M at $4B Valuation Sam Gutelle / Tubefilter : Bored Ape Yacht Club creator will use $450 million investment to build its version of the metaverse Anthony B / TradingBTC.com : Snoop Dogg, Google Ventures and Samsung join $450m seed funding round for Yuga Labs, the web3 firm behind Bored Ape Yacht Club Tweets: @zenofdesign : Same energy as when you see a kickstarter from some 13-year-old kid who just downloaded Unity for the first time and thinks he's gonna build an MMO for $250K. https://twitter.com/... @iamdcinvestor : idk what's next, but one move is to buy out every other semi-promising web3 IP out there creators prob willing to sell for less than you think (esp if we turn more bear) because they don't want to actually do the work to compete in the managed pfp business https://twitter.com/... Karl Bode / @karlbode : just absolute gibberish https://www.theverge.com/... Amy Castor / @ahcastor : Yuga Labs got $450M in funding from a16z, so it can expand into the “metaverse,” which means trying to find utility for its APE token, so they don't wind getting a Wells Notice from the SEC, which will probably happen anyway, even if it takes four years. https://www.bloomberg.com/... Dave Karpf / @davekarpf : Wow, Andreessen Horowitz values Yuga Labs (which owns basically all the big-name NFTs) at $4 billion. That's like... DOUBLE the amount that Andreessen Horowitz thought Clubhouse was worth. https://twitter.com/... Joe Pompliano / @joepompliano : Yuga Labs (the creator of Bored Apes) has raised $450 million & is now valued at $4 billion. Their 2021 financials are WILD. Revenue: $138 million Net Profit: $127 million (92% margins) The company was founded just 14 months ago & only had 11 full-time employees in January 🤯 Brian Cho / @brianjcho : Our conviction remains high that gaming will be one of the biggest consumer on-ramps to web3/NFTs, and the defining companies here will be community-driven and open. Having aped-in since last summer, @jasonoliver and I are excited to be a v small part of the @yugalabs journey! https://twitter.com/... Ros Gold-Onwude / @rosgo21 : Congrats @yugalabs! I'm honored to be part of Yuga's seed round. Means alot to be a community member & now on their cap table! I'm hopeful for the entire Web3 ecosystem & the role Yuga will play in growing participation & enhancing experience for everyone! https://www.theverge.com/... https://twitter.com/... Nitasha Tiku / @nitashatiku : almost a year since Clubhouse raised at a $4B valuation https://twitter.com/... Dave Lee / @daveleeft : a16z in April 2020: It's time to build. Housing, medicine, education, transportation a16z in March 2022: https://twitter.com/... @kushinthetush : $450m at a $4b valuation. imo these are the funds that will build their metaverse. Land sale will be priced in $APE, then they will use those proceeds to open staking rewards! https://twitter.com/... Alex Heath / @alexeheath : This company's profit margin last year was 95% https://www.theverge.com/... John Iadarola / @johniadarola : Who would have thought hell would be that pricey to set up? https://twitter.com/... See also Mediagazer
Same energy as when you see a kickstarter from some 13-year-old kid who just downloaded Unity for the first time and thinks he's gonna build an MMO for $250K. https://twitter.com/...
idk what's next, but one move is to buy out every other semi-promising web3 IP out there creators prob willing to sell for less than you think (esp if we turn more bear) because they don't want to actually do the work to compete in the managed pfp business https://twitter.com/...
Our conviction remains high that gaming will be one of the biggest consumer on-ramps to web3/NFTs, and the defining companies here will be community-driven and open. Having aped-in since last summer, @jasonoliver and I are excited to be a v small part of the @yugalabs journey! ht…
$450m at a $4b valuation. imo these are the funds that will build their metaverse. Land sale will be priced in $APE, then they will use those proceeds to open staking rewards! https://twitter.com/...
Wow, Andreessen Horowitz values Yuga Labs (which owns basically all the big-name NFTs) at $4 billion. That's like... DOUBLE the amount that Andreessen Horowitz thought Clubhouse was worth. https://twitter.com/...
Congrats @yugalabs! I'm honored to be part of Yuga's seed round. Means alot to be a community member & now on their cap table! I'm hopeful for the entire Web3 ecosystem & the role Yuga will play in growing participation & enhancing experience for everyone! https://www.theverge.co…
Yuga Labs (the creator of Bored Apes) has raised $450 million & is now valued at $4 billion. Their 2021 financials are WILD. Revenue: $138 million Net Profit: $127 million (92% margins) The company was founded just 14 months ago & only had 11 full-time employees in January 🤯
One of the reasons we should be skeptical of VC firms pushing web3, from @CaseyNewton: “Startups [are] being pressured to offer tokens...[so] VCs can cash out part of their investment years ahead of schedule.” https://www.platformer.news/ ...
Other people are coming to the same conclusion I came to months ago. Issuing tokens is an IPO & tokens are the shares minus pesky SEC regulations. VCs who funded Yuga Labs $450M got $1.7B in tokens issued to them. That's 4x profit without the company shipping anything but dreams …
“Decentralization becomes a marketing pitch — a forever promise of rewards to come, if you only buy and hold those tokens — but it's all still centralized where it counts.” https://twitter.com/...
'Something still feels off to me. Self-dealing founders and investors; a hype machine in overdrive; and a growing disconnect between the web3 we were promised and the one that's being traded on the crypto exchanges.' @CaseyNewton https://www.platformer.news/ ... #crypto #web3