Creators Of Bored Ape NFT Seek Investment Deal With a16z

The creators of Bored Ape Yacht Club NFT are apparently looking for an investment deal with companies like Andreessen Horowitz as we are reading further in our latest crypto news.

The creators of Bored Ape NFTs Yuga Labs, are negotiating with Andreessen Horowtiz whcih could be of value for the startup and lead it to $5 billion. According to the reports by the Financial Times, the anonymous people familiar with the matter revealed that the BAYC creators are looking to sell a multi-million dollar stake to the investors. The sources stated that the leading venture capital firm a16zis among the companies that will be involved in the funding round.

However, neither a16z nor Yuga Labs made any official comments on the matter but the deal if it comes to life it can bring the startup’s valuation to between $4 billion. Sources with knowledge of the negotiations said that the terms could still change and more discussions could not lead to a deal after all.

Bored ape Yacht Club is a collection of 10,000 unique Bored ape NFTs that are digital collectibles built on the Ethereum blockchain and it was launched by a group of anonymous developers whcih became the most expensive collection as of January 2022. one major contributing factor to BAYC’s popularity is the group of celebrities that held such NFTs. Some of the most notable names include rap icon Eminem, Justin Bieber, Serena Williams, and Neymar Jr.

Andreessen Horowitz on the other side has been involved in the crypto space and invested in a few startups. The company raised $9 billion to continue pouring funds into the industry.

As recently reported, Justin Bieber becomes the latest member of the Bored Ape Yacht Club and a proud owner of Ape #3001 which he spent 500 ETH for. Justin Bieber purchased a bored ape and joined the club of celebrities that bought NFTs over the past year. He is one of the most famous people on the planet and now he joined the famed Bored Ape Yacht Club. The award-winning rapper Eminem purchased Bored Ape Yacht Club NFT for 123.45 ETH and has since made the ape his profile picture on Twitter. In the meantime, he seems to have collected at least 15 NFTs so far on OpenSea under the name Shady Holdings.

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• Source: https://www.dcforecasts.com/altcoin-news/creators-of-bored-ape-nft-seek-investment-deal-with-a16z/