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Snoop Dogg, Timbaland, Gunna Invest In Yuga Labs' $450M Funding Round, Bringing It To A $4B Valuation

Bored Ape Yacht Club non-fungible tokens (NFTs) have become popular in the Hip-Hop community. Throughout 2021, AfroTech shared reports on Timbaland, Lil Baby, and Future being fans of the collection. Recently, a few artists have invested in Yuga Labs — the Web3 firm behind Bored Ape. Snoop Dogg, Timbaland, and Gunna were a part of a $450 million seed funding round — led by a16z crypto — according to Music Business Worldwide. Other investors included Animoca Brands, The Sandbox, LionTree, Sound Ventures, Thrive Capital, FTX, MoonPay, Samsung, and more. The funding reportedly brought Yuga Labs’ valuation to $4 billion. “Yuga Labs has quickly become a web3 culture, gaming, and entertainment empire,” said Chris Lyons, general partner at a16z crypto, in a press release. “Mainstream adoption in web3 is accelerating at lightning speed, and Yuga is at the forefront of merging culture and innovation for everyone to enter the metaverse. We’re thrilled to invest in this brilliant team and...

Mar 23, 2022

These Black Celebrities Made The List Of The 'Most Valuable NFT Portfolios,' According To A New Report

NFT portfolios have become a new, viable way for people to build — and maintain — their wealth. And the same goes for celebrities, who are quickly wading into the NFT space to diversify their investments. As has been previously reported, everyone from Doja Cat to Method Man has taken advantage of the value that non-fungible tokens give to their portfolios. And while experts are divided as to whether the long-term value of NFTs will sustain themselves, a new report suggests that there are some celebrities — for now — that have some of the most valuable NFT portfolios in the industry today. According to a new report compiled by SCMP, these portfolios have taken a jump thanks to the involvement of major auction houses, like Sotheby’s and Christie’s, who have also started to see the value in this new digital technology. But what makes these celebrity NFT portfolios so valuable can actually vary. While some celebrities choose to create their own NFTs and sell them, others create wealth...