Media reports that Bored Ape Yacht Club founders plan to raise funding from a16z

The startup behind the NFT collection Bored Ape Yacht Club (BAYC), Yuga Labs, is in talks with Andreessen Horowitz (a16z) and other potential investors to raise funds. The firm’s valuation could reach $4 billion to $5 billion, according to the Financial Times.

People familiar with the matter noted that the deal is at the discussion stage and its terms could change.

Experts interviewed by the FT said that investors are drawn to a community of celebrities and well‑heeled NFT enthusiasts. According to the newspaper’s sources, Yuga Labs could issue special tokens for investors and existing BAYC holders.

According to NonFungible, the most expensive BAYC token, #3749, sold for 740 ETH (about $2.9 million).

Earlier this year, BAYC #9055 became the American rapper Eminem. The purchase cost him 123.45 ETH (over $450,000).

Previously, a set of 107 NFT Bored Ape Yacht Club went under the hammer at Sotheby’s for $24.4 million. The final price significantly exceeded the maximum estimate, which was $18 million.

Earlier, Yuga Labs announced the launch of an ERC-20 token for the ecosystem in Q1 2022.

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