• The Bored Ape Yacht Club has raised $450 million to create the Metaverse MMORPG

  • Yuga Labs reported today that it has raised $450 million in investment, valuing the company at $4 billion! The money will be used by the team behind Bored Ape Yacht Club to start their own NFT empire.

    Yuga Labs just acquired CryptoPunks and Meebits from Larva Labs, and this news comes just weeks later. Three of the most profitable NFT collections were brought together under one roof as a result of the transaction.

    Last week, the company also announced the debut of ApeCoin, a cryptocurrency. The token will serve as their primary medium of exchange, allowing holders to express their opinions on Yuga Labs’ properties.

    ‘Otherside’ – A Broader NFT Universe — Will Be Created by the Bored Ape Yacht Club.

    Otherside, the team’s project, will be an MMORPG that will connect the NFT universe as a whole.

    They aspire to create an interoperable, gamified, and entirely decentralized society, according to Wylie Aronow, co-founder of Bored Ape Yacht Club. He went on to say, “We think the genuine Ready Player One experience will be player-run.”

    Yuga Labs collaborates with a few different game studios to bring Otherside to life, according to CEO Nicole Muniz. The game isn’t just for owners of the Bored Ape. The company intends to develop tools that will enable NFTs from other projects to collaborate within their metaverse.

    Recently, Web3 projects have taken over the space. Other companies, on the other hand, Yuga Labs believes, have the wrong metaverse ideas.

    Greg Solano, a co-founder of Yuga Labs, believes that spending time together in a virtual area with nothing else to do will not cause people to bond. Instead, he claims, people form bonds when they are forced to work together.

    Solano explains, “You only play with people and make friends because you’re getting your ass kicked.” “Basically, we don’t believe that having a Zoom chat and going around saying ‘hello’ provides a deep social experience.”

    Otherside’s release date has not been announced by Yuga Labs.

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