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Bored Ape Yacht Club Creator Gets IDR 6.4 Trillion to Work on Metaverse

Bored Ape Yacht Club (BAYC) creator, Yuga Labs managed to raise IDR 6.4 trillion to develop his own Metaverse. The money was successfully obtained from its investors, namely crypto a16z, Andreessen Horowitz, The Sandbox and FTX.

Yep, the existence of Metaverse has indeed been used very well by several parties to develop their company. One of them is, Yuga Labs, the company behind the success of Bored Ape Yacht Club in the NFT world.

After being successful in the NFT field, Yuga Labs now wants to expand its business by working on the Metaverse ecosystem. The company has also received an injection of funds that will facilitate the latest innovation.

Bored Ape Yacht Club Creator, Yuga Labs Gets IDR 6.4 Trillion Funds To Work On Metaverse

In an official statement, Nicole Muniz as CEO of Yuga Labs said that his party will build a new, beautiful world that can be explored and played by everyone.

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The possible impact of blockchain on culture is endless, so we built a beautiful, operable world for people to explore and play with. There’s a lot to come,” Nicole said.

Yuga Labs will use the Rp 6.4 trillion money to increase the number of its team, so that its newest project called “Otherside” can be used by everyone immediately.

Bored Ape Yacht Club Metaverse
Photo: Cryptonary

Chris Lyons from Andreessen Horowitz also spoke about the funding that his company involved with Yuga Labs. He admitted that he was very happy to invest in the company because the Web3 industry was growing rapidly.

Furthermore, Chris said that the move was very appropriate because Yuga Labs has a brilliant team and vision, so he did not hesitate to provide an injection of funds to the company.

“Mainstream adoption on web3 is accelerating, and Yuga is at the forefront of combining culture and innovation for everyone to enter the metaverse. We’re excited to invest in this brilliant team and their vision, and help forge the next frontier of community-owned entertainment.”

Also Read: Qualcomm Willing To Spend Rp 1.4 Trillion To Work On The Metaverse World

Thanks to an injection of Rp 6.4 trillion, Yuga Labs is now a company with a valuation value of US$ 4 billion or around Rp. 57 trillion. It’s so crazy, guys!