Bored Ape startup raises $285m of crypto in virtual land sale

Bored Ape startup raises $285m of crypto in virtual land sale

FILE PHOTO: A representation of cryptocurrency Ethereum is seen next to non-fungible tokens (NFTs) of Yuga Labs "Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken March 24, 2022. REUTERS/Florence Lo/Illustration/File Photo

The company behind the “Bored Ape” series of NFTs has raised around $285 million worth of cryptocurrency by selling tokens which represent land in a virtual world game it says it is building.