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Yuga Labs, the owners of the BAYC, has raised $450 million for its Metaverse

With a recent joint reveal with Animoca Brands, BAYC, a top-performing NFT project, has been eyeing the metaverse. The duo is working on creating a metaverse that will include various NFTs. The new $450 million raise has now started the ball rolling.

Yuga Labs has raised $450 million in seed capital headed by Andreesen Horowitz to further build their metaverse. The corporation is the owner and creator of the well-known BAYC NFT project, and it now aspires to be the best in the metaverse.

The new creation, dubbed “Otherside,” will include a variety of various NFTs. MoonPay, FTX, Animoca Brands, Thrive Capital, Sound Ventures, and LionTree were among the investors in their most recent seed round.

The news follows a preview of the upcoming metaverse project via video footage on Twitter earlier this week. On March 17, 2022, the team also created ApeCoin, a governance token for their ecosystem. Because they are popular and will be early adopters of the innovation, this determination may lead them to dominance in the upcoming metaverse.

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