"WE HAVE MULTIPLE YEARS RUNWAY OF PURE CASH": Yuga Labs CEO Garga Says His Company Has More Than Enough To Fund Otherside And More For Years To Come

Yuga Labs has plenty of cash and years of runway, according to the company’s Co-Founder and CEO, Garga.

Things were anything but boring in the Web3 world on Wednesday, as Garga sat down with Real Agency Founder Jonah Blake to discuss all things Otherside and Web3 gaming.

During the hour long conversation, Jonah asked a question that everyone’s been wondering since Yuga Labs’ $450 million raise in 2022,  just how much money does the company have left, and can it fund its ambitious Otherside plans? Garga’s answer, yes.

 

 

While Garga did not give hard numbers regarding Yuga Labs’ financials or current valuations, he said the company has more than enough to fund its Otherside plans.

 

“We have multiple years runway of pure cash,” he said. “We hold a tremendous amount of ApeCoin at Yuga and the Ape Foundation is well capitalized as well.”

Garga also laughed off the idea that Yuga Labs is short on money, pointing out that the company has a public nine figure position in CryptoPunks based on the project’s current floor price.

“I don’t really know where all these money worries come from," Garga Said. “I literally own a hundred million dollars of Just CryptoPunks!”

 

After the interview, Jonah tweeted that he’s “bullish” on Otherside and Garga’s plans for a user generated content filled metaverse.

“So @CryptoGarga was able to sit a full one hour with me and dealt with questions. If he’s telling the truth (I don’t think he has a need to lie rn) Then I can be bullish on the visions of Otherside,” he tweeted. “I’m just not totally shitting on the builders we have left. “

 

The Bored Ape Gazette is working to bring you more reports from Garga’s conversation with Jonah. Stay tuned for updates!