Bored Ape Creators Make $285 Million Through Token Sale

Yuga labs, the creators behind the Bored Ape series of NFTs has recently made roughly $285 Million in Crypto, following a hyper successful sale of 55,000 NFT tokens named “Otherdeeds”.

The tokens are supposed to represent plots of virtual land in a future Bored Ape metaverse, and were only purchasable with ApeCoin, Yuga Labs’ own cryptocurrency. Yuga Labs has stated that they will lock up the crypto for one year, although it is unclear whether that can be enforced.

This news closely follows the recent massive Bored Ape Yacht Club phishing scam, in which $2.5 Million worth of NFTs were stolen through the hacking of some of Yuga Labs’ social media platforms.