Bored Ape Yacht Club NFTs rise in value after funding round rumours

Rumours have surfaced that Yuga Labs, the company behind BAYC, plans to raise funds at a $5 billion valuation. As a result, Bored Ape Yacht Club NFTs have become even more valuable than before.

Thanks to the rumours, Bored Ape NFTs have become a hot commodity

The NFT influencer Nick discussed this alleged funding round on his The Nifty Alpha podcast. While official sources did not confirm his claims, this podcast episode led to a sharp increase in Bored Ape Yacht Club’s floor price. The cheapest NFTs are now trading at a whopping 93 ETH or $233,139! Therefore, Bored Ape NFT prices are up 55% since the start of the year.

Twitterer and NFT fan @rdm_41 also fuelled the $5 billion rumour. According to @rdm41, Yuga Labs sold APE tokens to venture capital firms to raise money. APE tokens are rumoured to be the new Bored Ape Yacht Club tokens; reportedly launching in the next few months.

“Well for those of you that care, seems like this $ape coin sold to a VC story actually has legs,” tweeted @rdm_41. “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.”

@DomRockingIT commented on Bored Ape Yacht Club fans’ mixed reactions to this rumour: “I can see why BAYC holders could have mixed feelings. Top funnel cash going to the founders, when the community is what made this valuation possible. We will see how it plays out. But the question here will be, is it really for the culture, or as we all always knew, the $?”

Given the growing media and celebrity interest in NFTs, especially the Bored Ape Yacht Club, it seems like it’s only a matter of time until Yuga Labs raises more money. One thing is certain – after the rumours, NFT enthusiasts will follow Yuga Labs’ every move.

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All investment/financial opinions expressed by are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investments.

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