Business In News
- Yuga Labs has committed $1 million in funding to support arts and education efforts in Miami – a vibrant city where Bored Ape Yacht Club was born.
- To get the ball rolling, the firm has donated $300k to the Venture Miami Scholarship Funds, supporting students in need to pursue a bachelor’s degree in STEM majors.
Here’s how Yuga Labs is giving back to its hometown Miami
Yuga Labs, the Web3 company behind the famous Bored Ape Yacht Club (BAYC) NFT collection, has pledged $1 million in funding to support arts and education initiatives in Miami. To get the ball rolling, the firm has kicked off the program with a $300,000 donation to the Venture Miami Scholarship Fund.
The exciting effort is part of Yuga’s intentions to stay connected to its roots by giving back to the city where Bored Ape Yacht Club was born. Just so you know, Yuga co-founders Wylie Aronow (GordonGoner) and Greg Solano (Garga), as well as Yuga Labs CEO Nicole Muniz, are proud Miami natives on the board.
Growing up in the coastal city of Florida, the team has witnessed firsthand the community’s vibrant energy and immense potential. With that, the Venture Miami Scholarship Fund is now live, supporting students in need pursuing bachelor’s degrees in STEM majors at local institutions.
Miami is a special place. It’s the birthplace of @BoredApeYC and most of our leadership team. This is a vibrant community with a bright future – we’re thrilled to announce a new $1 million initiative to support arts and education programs there. More at: https://t.co/tUdhLMC1Na
— Yuga Labs (@yugalabs) October 12, 2022
“We’ve been planning this for some time and are excited to finally announce Yuga’s investment in the future of our hometown. Miami has become a hub of a dynamic industry where Yuga Labs is at the forefront of innovation,” said Greg Solano, co-founder of Yuga Labs.
“We have deep roots in Miami,” said Wylie Aronow, co-founder of Yuga Labs. “As we continue to build our business here, we’re glad we can also help to build a strong, passionate community where there are no barriers to access, and creativity knows no limits.”
According to Miami Mayor Francis Suarez, connecting local talents to career opportunities is vital in supporting the city’s ever-growing blockchain community. The financial support from Yuga Labs will help turn this vision into a reality.
“Yuga Labs is a leader in Miami’s growing Web3 business community. We’re thrilled to join forces with them to provide Miamians the education they need to earn sought-after careers with high-paying wages.”
Yuga previously committed to donating 10 million ApeCoin to the Jane Goodall Legacy Foundation in March. The company also promised to donate creator fees from BAKC’s secondary sales to support animal conservation charities and no-kill shelters.
While it’s great to see the Web3 giant giving back to its community, Yuga’s multi-million dollar success drew the attention of financial watchdogs. Recently, the U.S Securities and Exchange Commission launched a probe into the firm’s BAYC NFT sales and ApeCoin distribution.