Bored Ape Founder plan to Launch Virtual Land and Plot Sales.
The initiative of virtual land and plots for sale from Yuga Labs is promising progress made by the company in the realm of the metaverse. The document obtained by The Block further outlines Yuga Lab’s crypto token plans as well as its financial matters.
Last year, Yuga Labs made $127 million in revenue which is expected to reach $455 million primarily through virtual land sales. The company plans to distribute 200,000 plots in two segments; March and April.
The document known as the deck was circulated in the investors’ circle as a part of ongoing fundraising. Yuga Labs hopes to raise fresh funds with a valuation of $5 billion, according to a report shared by Financial Times.
Yuga’s collection of cartoon primates amassed a trading volume of more than $1 billion.
Now, Yuga Labs eye expansion, “We want to build something that expands the universe of the BAYC, but also invites the larger NFT community (and those priced out of BAYC membership) to join,” read in the company’s deck.
Moreover, its metaverse will also roll out a much-anticipated cryptocurrency known as APECoin.
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