The Bored Ape Yacht Club's Parent Company Yuga Labs May Be Raising Funds At A $5 BillionValuation
Updated: Feb 8, 2022
NFtNick.Eth claimed that the Bored Ape Yacht Club is raising funds at a five-billion-dollar valuation according to an undisclosed source.
“We have breaking news this evening,” NFT Nick says at the beginning of his podcast with Captain Kix and Pio Vincenzo. “Bored Ape Yacht Club raising at a five-billion-dollar valuation. Let’s get into the details.”
NFT Nick went on to explain that he received the news of the five-billion-dollar valuation from a source that he says is close to the deal. “So, to be clear we got this from a source close to the information and delivered it. And we decided you know what we are just rolling with it because it makes a whole ton of sense.”
The idea of the BAYC raising money is not a new rumor. The Bored Ape Gazette listened into a Twitter Space last week hosted by BAYC member RDM_41 where a guest said that Yuga Labs (The BAYC’s parent company) may have sold some $APE token to VC investors.
After the Twitter space, RDM_41 took to Twitter to share that he has all but confirmed that the story has “legs.”
“Well for those of you that care, seems like this $ape coin sold to a VC story actually has legs," RDM_41 tweeted on January 24th. “I’ve confirmed with 3 different & unrelated parties. I’ll hold my thoughts on this for how as I try to learn more about it.”
The Bored Ape Gazette reached out to RDM_41 who told the Gazette that he has heard the 5-billion-dollar valuation of Yuga Labs a couple of times that he is personally bullish about the club's future.
"So overall I feel like this is very bullish long term for the BAYC,"he said. "The team has always been focused on the long term and selling shares of Yuga Labs is a smart move to fund the development for the BAYC metaverse. I’ve also been made aware that the VC will not be given tokens at a discount."
The Bored Ape Gazette reached out to the BAYC via Twitter about the story but did not immediately hear back from them.
At this time nothing is confrimed, but the Bored Ape Gazette will continue to monitor this story and let you know when more information becomes available.
UPDATE/ CLARIFICATION : After the publication of this article, BAYC Member RDM_41 clarified that the $5 Billion valuation is of Yuga Labs not Ape Token. This article has been updated to better convey that.