Bored Apes Yach Club NFT creators may be in talks to raise capital with Andreessen Horowitz (a16z).

According to the Financial Times, Yuga Labs is a creative start-up that could be valued at up to $5Billion.

An anonymous source claims that Yuga Labs has raised funds from venture capital firms. Andreessen Horowitz, a Silicon Valley giant, is looking into making multi-million dollar investments in the NFT creators.

Sources claim that Yuga Labs could issue tokens to new investors as well as existing owners of Bored Apes Yacht Club NFTs. They also said that investment talks may break down and that the funding deal might not be finalized.

Official confirmations have yet to come from the involved parties. However, the initial institutional investment would be made into the startup behind one the most popular non-fungible tokens collections (NFT), if rumors are true.

Venture capital firm a16z revealed that they were seeking to raise $4.5 million for crypto investment funds. This firm has already made large investments in both Coinbase (NASDAQ) and OpenSea. It plans to control a substantial portion of the global digital asset market.

BAYC’s Price jumps

Rumours have triggered a rally on the NFT market. This has resulted in a 10% increase in the Bored Ape Yacht Club’s price over the last 24 hours. At the time this article was written, the price for the legendary BAYC is around $2738,815

The Bored Ape Yacht Club (BAYC) collection of 10,000 NFTs is the market’s darling for high-profile investors, including celebrities like Eminem, Shaquille O’Neal, Jimmy Fallon, Gwyneth Paltrow and Paris Hilton.

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