The business behind the “Bored Ape” series of NFTs has raised over $285 million in cryptocurrencies by selling tokens that represent land in a virtual world game that it claims to be developing.

Yuga Labs, a U.S. start-up, established the Bored Ape Yacht Club NFTs last year, which are blockchain-based tokens representing a group of 10,000 computer-generated cartoon apes.

As non-fungible tokens (NFTs) — crypto assets that represent digital data like as photographs, video, or objects in an online game – became increasingly popular, Bored Ape prices skyrocketed, reaching hundreds of thousands of dollars per.

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