May 26, 2022

Yuga Labs, the creator of the Million Monkey NFT that many people love to hate, has raised a $450 million round from Andreessen Horowitz at a $4 billion valuation, the company announced on Tuesday.

The NFT company behind Bored Apps Yacht Club has not raised funding before, although the startup has long attracted the attention of venture capitalists looking to support a major player in the NFT craze.

South Labs continues to strengthen its position. Earlier this month, the startup announced it had acquired the assets of popular NFT projects Cryptopunks and MeBits from Larva Labs. The startup also just launched AppCoin, in which the founders and executives of the startup have a significant stake. The token reached a multi-billion dollar market cap on its first day of trading.

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