Bored Ape NFT creator's virtual plots sell out for $285 mn of crypto

Bored Ape Yacht Club creator Yuga Labs raised $285 million worth of cryptocurrency by selling 55,000 virtual land plots related to its future metaverse project 'Otherside'. For each plot, it sold an NFT called 'Otherdeed' (worth $7,000), which could only be bought using the project's associated cryptocurrency ApeCoin. In total, the sold-out sale raked in 16,775,000 ApeCoin, as per Reuters.