Bored Ape Yacht Club creator raises $450 million to build an NFT metaverse

An illustration of a Bored Ape at the center of a vortex pulling in Meebits and CryptoPunks.
Illustration by Alex Castro / The Verge

Yuga Labs, the owner of three of the biggest NFT brands on the market, has raised $450 million in funding at a $4 billion valuation, the company announced today. The team behind Bored Ape Yacht Club plans to use the money to build a media empire around NFTs, starting with games and its own metaverse project.

The team describes its metaverse project, called Otherside, as an MMORPG meant to connect the broader NFT universe. They hope to create “an interoperable world” that is “gamified” and “completely decentralized,” says Wylie Aronow, a co-founder of Bored Ape Yacht Club who goes by the pseudonym Gordon Goner. “We think the real Ready Player One experience will be player run.”

The announcement comes just weeks after Yuga Labs made a...

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