MIAMI–(BUSINESS WIRE)–Today, Yuga Labs announced the closing of its Series Seed funding round, led by a16z crypto, with participation from leading game studios like Animoca Brands and its subsidiary The Sandbox, strategic partners like LionTree , Sound Ventures and Thrive Capital, and crypto leaders like FTX and MoonPay, and other partners and collaborators.
The company has raised $450 million and plans to use the funds to scale its rapidly growing team, attract top talent in creative, engineering and operations functions, and for joint ventures and partnerships that she planned. On Friday, the company unveiled a preview of its metaverse project, called Other side.
“Already, a new economy is possible with the intellectual property of monkeys, punks and Meebits, owned by the community,” said Nicole Muniz, CEO of Yuga Labs. “The possibilities for blockchain to impact culture are endless, and so we’re building a beautiful, interoperable world for people to explore and play in. There’s a lot to come.”
“Yuga Labs has quickly become a web3 culture, gaming and entertainment empire,” said Chris Lyons, general partner at a16z crypto. “Consumer adoption of web3 is accelerating at lightning speed, and Yuga is at the forefront of fusing culture and innovation so everyone can step into the metaverse. We’re excited to invest in this brilliant team and their vision, and help forge the next frontier in community-owned entertainment.
“This capital will allow Yuga to accelerate the commercialization of many ongoing projects and attract new partners with strategic thinking who share the vision,” said Guy Oseary, partner at Yuga Labs.
The funding round values Yuga Labs at $4 billion, after silver.
About Yuga Labs
The possibilities for blockchain to impact culture are endless. Yuga Labs is a future-building web3 platform best known for founding the Bored Ape Yacht Club and its recent acquisition of CryptoPunks and Meebits.
For more information about Yuga Labs, visit https://www.yugalabs.io or email [email protected]