Bored Ape NFT company raises around $285 million of crypto in virtual land sale

Published by
Reuters UK

By Elizabeth Howcroft LONDON (Reuters) – The company behind the “Bored Ape” series of NFTs has raised around $285 million worth of cryptocurrency by selling tokens which represent land in a virtual world game it says it is building. Last year, U.S. start-up Yuga Labs created the Bored Ape Yacht Club NFTs, blockchain-based tokens representing a set of 10,000 computer-generated cartoon apes. As non-fungible tokens (NFTs) – crypto assets that represent digital files such as images, video, or items in an online game – exploded in popularity, Bored Ape prices surged to fetch hundreds of thousands o…

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