One for the Record Books

Mar 25, 2022 • 13 Min Read

Venture Capital Deals

Yuga Labs is an NFT/metaverse developer most widely known for creating the Bored Ape Yacht Club NFT collection, the largest NFT collection by market cap at over 1 million ETH (~$3 billion at the time of writing). Yuga raised $450 million in a funding round that valued the company at $4 billion. The round was led by a16z, with Sandbox, FTX Ventures, and MoonPay participating as well, among others. At the moment, Yuga Labs is developing a metaverse project, Otherside, which is expected to launch in April this year. The fresh capital will help fund the launch and further development of the Otherside platform, in order to allow players to integrate their NFTs into a virtual world, purchase and develop virtual land, play games, and hang out with other players in chat rooms. (Yuga Labs Raised $450M And Is Now Valued At $4 Billion)

Archway ($ARCH) is a Cosmos-based protocol for incentivizing application development on the Cosmos network. Phi Labs, the Archway development team, raised $21 million in a seed round led by CoinFund and Hashed with participation from Blockchain Capital, Hypersphere, and Cosmostation, among many others. Archway supports decentralized applications (dApps), which the developers are free use to fund further work on the dApp, incentivi...

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