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gm NFTs March 23 | Yuga Labs Raises $450 Million

Connor MelhornConnor Melhorn
gm NFTs March 23 | Yuga Labs Raises $450 Million

Today's Top News:

  • Yuga Labs Seed Round
  • Market Movers
  • Upshot Analytics A2

Yuga Labs Raises Seed Round

Yesterday, March 22, Yuga Labs released information that it has received $450M in funding at a $4B valuation to build out an NFT media conglomerate, starting with its own gaming mechanics and metaverse.  

This announcement comes just weeks after Yuga Labs announced the acquisition of the CryptoPunks and Meebits IP from Larva labs. Yuga's portfolio now boasts three of the biggest NFTs on one roster.

While Andreessen Horowitz initially funded  OpenSea, Dapper Labs, and Coinbase, the firm joins game studio Animoca Brands and crypto companies Coinbase, FTX, and MoonPay in the first round of funding for Yuga Labs.

Market Movers

Bored Ape Yacht Club, which released information on the ApeCoin last week, still continues to reign supreme at the top of the OpenSea 7-day and 24-hour chart. 

  • Bored Ape Yacht Club saw roughly 37,600 ETH in volume traded over the last week, up 266%.
  • Mutant Ape Yacht Club saw roughly 24,700 ETH in volume traded over the last week, up 260%.
  • Bored Ape Kennel Club saw roughly 8,500 ETH in volume traded over the last week, up 424%.
  • Bored Ape Chemistry Club saw roughly 3,400 ETH in volume traded over the last week, up 513%. 

The Bored Ape Yacht Club floor price still sits near the 100 ETH floor mark.

(B)Apeaverse is now charting on OpenSea Top Collections on the 24 hour table after seeing over 1,500 ETH traded in the last 24 hours.  The floor now sits at 0.72 ETH.

Small Bros NFT and Mini Supers both made their debut on the OpenSea Top Collection chart for the last 24 hours.  Small Bros has achieved close to 800 ETH in volume from their release yesterday, while Mini Supers jumped 800% in volume with a floor of 0.09 ETH.  

Blue Chips Clone X and World of Women have seen decent volume over the last 24 hours, posting roughly 900 ETH in volume and 44 sales for Clone X and 340 ETH in volume and 23 sales for World of Women.  Clone X floor now sits at 14.5 ETH, while World of Women is just below at 13 ETH.

Upshot Series A2

Upshot, an analytical protocol used to appraise NFTs, has raised a second round of funding worth $22 million dollars led by PolyChain Capital. 

Being invested in the space, we all know how complicated it is to gauge future success or utility around a new upcoming project, let alone appraise an NFT's value. Pricing data has become more and more critical as investors look to bridge the intersection of decentralized finance and NFTs and create a quantifiable model.

Upshot, which was launched in 2019, currently offers a private, beta version of an API for projects to integrate the data into their projects.The company incentivizes users to give honest answers or opinions when comparing collectibles or projects, creating industry-leading asset models that have been utilized in the appraisal of the Sotheby’s Bored Ape Yacht Club batch auction and more.

Polychain joins Framework Ventures, CoinFund, Blockchain Capital, Slow Ventures, Mechanism Capital and Delphi Digital in a Series A2 for Upshot.  

Public launch date and information to be released soon. 

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