• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Artificial Intelligence

The Bored Ape Company Raises Around $285 Million Worth Of Crypto

TND Newsdesk by TND Newsdesk
May 3, 2022
in Artificial Intelligence, Blockchain, Companies, Data & Ananytics
0 0
0

The company behind the NFTs series “Bored Ape,” Yuga Labs, collected cryptocurrencies worth about $285 million. The startup achieved the feat by selling tokens that represent land in a virtual world game.

In an online sale on April 30, Yuga Labs sold NFTs called “Otherdeeds.” The NFTs could be exchanged as plots of virtual land in a future Bored Ape-themed online environment called “Otherside.”

The “Otherdeeds” can only be purchased with the project’s associated cryptocurrency called ApeCoin.

Yuga Labs had 55,000 Otherdeeds for sale and cost 305 ApeCoin each. The company announced on Twitter that the NFTs were sold out.

This means that the sale brought in 16,775,000 ApeCoin, which on Sunday was worth about $285 million, based on ApeCoin’s price on the cryptocurrency exchange Coinbase.

The sale underscores the continued high demand for speculative, high-risk cryptoinvestments associated with online virtual worlds.

Yung Labs declined to say how many people worked on Otherside or when it would hit the market.

The sources for this piece include an article in Reuters.

Tags: cryptocurrency

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Fintech
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Martech
  • Medical
  • Mobility
  • Not for Profit
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • Smart Home
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Sustainability
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00