Bored Ape Yacht Club (BAYC) creator Yuga Labs, owner of the CryptoPunks and Meebits brands, has raised $450 million in its latest seed funding round, putting its value at $4 billion.

As part of this acquisition, Yuga Labs will own CryptoPunks and Meebits brands and logos, and will transfer IP, commercial, and exclusive licensing rights to individual NFT holders, as it did with its own BAYC collection.