Bored Ape Yacht Club NFTs have seen floor prices surge roughly 55% year-to-date, a rally that tracks closely with the broader crypto market’s renewed appetite for risk.

The floor price for a Bored Ape has climbed to around 93 ETH, or approximately $225,000.

Yuga Labs and its war chest

Yuga Labs, the company behind BAYC, raised $450 million in seed funding, one of the largest capital raises in the NFT sector’s history. Andreessen Horowitz, the venture capital giant commonly known as a16z, led the round.

That fundraise valued Yuga Labs at $4 billion post-money. Earlier speculation had pegged the valuation even higher, around $5 billion, but the final number settled lower.

Yuga Labs used its position to consolidate…