One of the largest non-fungible token companies announces a new initiative to help its hometown.

What happened: Yuga Labs co-founder Wylie Aronow and Gregory Solano announced Wednesday a $1 million initiative to support arts and education programs in the city of Miami, Fla.

“This is a vibrant community with a bright future – we are pleased to announce a new $1 million initiative to support arts and education programs there [Miami]’ Yuga Labs tweeted.

A blog entry von Aronow and Solano shared that several of Yuga Labs co-founders count Miami as their hometown: “We love Miami. From the 24-hour Cuban cafes on 8th Street, to fishing under the Rickenbacker Causeway, to sandwich joints in coin-operated laundries, to the city’s incredible music and nightlife scene.”

The duo also highlighted that Miami is a “majority-minority city” that welcomes immigrants and diversity.

“It’s also our hometown. We spent our youth learning to skateboard in the parking lots of the Marina in Coconut Grove, reading books in the cafes at the University of Miami, and taking long subway rides to punk shows.”

Aronow and Solano recall the meeting and how Miami played an important role in the creation of Bored Ape Yacht Club.

“We were on different paths when we met by chance in a South Miami bar a decade ago, but we quickly saw a common connection that transcended our love of creative writing and reflected this city. As we began talking about what would eventually become the Bored Ape Yacht Club, we knew it needed to be rooted in the kind of community we knew and loved – one that embraced and supported people from all walks of life and each other didn’t care. Everyone else thought it was a bit strange.”

Yuga Labs announced a $1 million donation that will support “arts and education initiatives across the city” of Miami.

The donation begins with a $300,000 donation to the Venture Miami Scholarship Fund, which provides students in Miami who…