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Bored Ape Yacht Club NFTs Rally on Funding Round Rumors

The price of the cheapest apes has risen 8% since the rumors surfaced. 

Bored Ape Yacht Club NFTs Rally on Funding Round Rumors
Photo: Bored Ape Yacht Club/Yuga Labs

Key Takeaways

  • Rumors are circulating that Yuga Labs, the company behind Bored Ape Yacht Club, is raising funds at a $5 billion valuation.
  • Since the rumors surfaced, the floor price for Bored Ape NFTs has spiked.
  • Although several unrelated parties have supposedly corroborated the rumors, no official source has confirmed them.

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Rumors that Yuga Labs, the company behind Bored Ape Yacht Club, is raising funds at a $5 billion valuation has caused the floor price of the collection to spike in value. 

Bored Ape NFTs Climb on Raise Rumors 

Bored Ape Yacht Club NFTs are becoming even more valuable. 

According to undisclosed sources, Yuga Labs, the company behind Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club NFTs, may be planning to raise funds at a $5 billion valuation. 

On Monday evening, the influencer NFT Nick discussed the rumor on his The Nifty Alpha podcast with Captain Kix and Pio Vincenzo. “We got this from a source close to the information,” he said.  who “The person that reached out to us is a reputable source, which is why we trusted this so much,” he added. 

Although the raise has not been confirmed by any official source, the rumor has been enough to fuel speculation among NFT traders. The floor price for a Bored Ape has spiked since the podcast aired, with the cheapest pieces now trading at 93 ETH, around $225,000. That’s an 8% jump on yesterday’s floor price. 

The recent surge adds to Bored Ape Yacht Club’s parabolic upward trajectory. Less than a month ago, Bored Apes were changing hands for a minimum of 60 ETH. At the current 93 ETH floor price, Bored Apes are up 55% since the start of the year. 

The $5 billion funding gossip is not the first time rumors of Yuga Labs raising money have surfaced. Last Friday, Twitter user and NFT enthusiast rdm41 hosted a Twitter Spaces where he discussed rumors that Yuga Labs had sold APE tokens to venture capital firms to raise money. “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,” he stated in a follow-up tweet. 

APE is the suspected name for the Bored Ape Yacht Club token set to launch in the first quarter of this year. The official Bored Ape Yacht Club Twitter account has confirmed a fungible token tie-in is due to launch but has been tight-lipped on the details so far. 

With the recent launch of a Bored Ape mobile game, new celebrities buying apes every week, and the recent rumors of a colossal funding round, 2022 is shaping up to be a big year for Bored Ape Yacht Club. Those in the NFT space will be watching closely to see if the rumors of Yuga Labs’ raise bear fruit. 

Yuga Labs had not responded to Crypto Briefing’s request for comment at press time. 

Disclosure: At the time of writing this feature, the author owned ETH and several other cryptocurrencies. 

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