NFTs at the Bored Ape Yacht Club Rally in Response to Rumors of a Funding Round

Rumours that Yuga Labs, the business behind Bored Ape Yacht Club, is seeking funding at a $5 billion valuation have inflated the collection’s floor price.

NFTs from the Bored Ape Yacht Club are becoming increasingly valuable. According to unnamed sources, Yuga Labs, the company behind the NFTs Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club, maybe considering a $5 billion value for its next funding round.

On Monday evening, influencer NFT Nick addressed the rumour with Captain Kix and Pio Vincenzo on his The Nifty Alpha podcast. “We have this information from an inside source,” he said. who “The individual that contacted us is a reliable source, which is why we placed such a high premium on this,” he continued.

Although no official source has verified the hike, the report has fueled discussion among NFT traders. Since the show aired, the floor price for a Bored Ape has increased significantly, with the lowest pieces currently selling for 93 ETH, or around $225,000. This is an 8% increase over yesterday’s floor pricing.

The current surge contributes to the parabolic upward trajectory of Bored Ape Yacht Club. Bored Apes were selling for a minimum of 60 ETH less than a month ago. Bored Apes is up 55% year to date at the current 93 ETH floor price.

The $5 billion investment report is not the first time Yuga Labs has been rumoured to be seeking money. rdm41, a Twitter user and NFT enthusiast, held a Twitter Spaces last Friday in which he addressed reports that Yuga Labs had sold APE tokens to venture capital companies in order to earn money. “I confirmed with three distinct and unconnected sources. I’ll reserve my opinions on this for the time being as I attempt to learn more about it,” he remarked in a subsequent tweet.

APE is a possible moniker for the Bored Ape Yacht Club token, which is scheduled to debut in the first quarter of this year. The official Bored Ape Yacht Club Twitter account has acknowledged the impending debut of a fungible token tie-in but has been mum on the specifics so far.

With the recent debut of a Bored Ape mobile game, the weekly addition of new celebrities purchasing apes, and recent reports of a massive fundraising round, 2022 is shaping up to be a banner year for Bored Ape Yacht Club. Those that follow the NFT area carefully will be looking to see whether the rumours about Yuga Labs’ raising come true. At the time of publication, Yuga Labs had not responded to Crypto Briefing’s request for comment.

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