ApeCoin DAO-N Low #41
To the Bored,
Good evening and thank you for reading the 41st edition of the Bored Ape Gazetteās ApeCoin DAO-N Low newsletter!Ā
To begin this weekās report, Iād like to wish the ApeCoin DAO a happy second birthday and quickly highlight the DAOās founding ideas and some of the work thatās gone into the $Ape ecosystem since its launch on March 17, 2022!
āBored Apes as a culture represents this generation,ā Former ApeCoin Special Council member and Animoca Brands Chairman Yat Siu said in a Twitter Space during the DAOās launch. āThis zeitgeist, this sort of moment where you know it's the expression of the current culture of where we are with what NFTs mean, so it's historic and the ApeCoin is sort of the beginning of expanding that culture towards larger groups. And that's what we think here. You know it's how do you get more people to combine with this and to join it and this is kind of the role of the DAO.ā
While $Apeās price may be down since then, the community has been busy growing the $Ape ecosystem. Today, 145,000 wallets hold $Ape and the community has passed 97 Ape Improvement Proposals, distributing millions of $Ape worth of grants to projects across the expanding ecosystem!
āIt's incredible to celebrate ApeCoin's 2nd birthdayā ApeCoin Special Council Member and Horizen Labs Advisor Airvey told the Gazette. āWhen I began working on this project six months before the launch, we were determined to build the strongest community in web3. I'm extremely excited about the year ahead and fully realizing the DAO's potential with ApeChain, as well as sharing our progress with the world, possibly through a Formula 1 team!ā
As the ApeCoin DAO turns two and begins to take shape as the cultural DAO that Siu and others hoped it would be at launch, many projects funded by the DAO have recently started making moves. Let's take a closer look at the Digital Art Movement, which recently received funding, and the $APE Accelerator, hosting its first project on its launchpad this week!
To begin, MachiBigBrotherāsApeCoin DAO funded Digital Art MovementĀ initiative, whoseĀ mission is to curate an NFT collection of Yuga Labs assets and get them displayed in museums and galleries around the world, received its first batch of its 11 million $Ape grant on March 6th and has been buying Apes and grail NFTS such as a gold fur primate, a Twelvefold, and a Fidenza!Ā Ā
āDigital art remains underrepresented in the art world, I want to change this,ā MachiBigBrother wrote in AIP-304. āI want digital art to be omnipresent. By creating and curating the Digital Art Movement Collection (aka āThe DAM Collectionā), we can proliferate appreciation for digital art worldwide thus leading to education and adoption. Thereās no better group of people than ApeCoin DAO members to cement our place in digital art history. By exhibiting this collection worldwide, we will make NFTs more accessible publicly and drive conversations around the benefits of digital art. This conversation will naturally lead to benefits of digital art, enabled via permissionless blockchains as well as proof of ownership, authenticity, and provenance. Educating the public about our space is key to mass appreciation.ā
Going forward, the community can expect to see more Ape purchases from DAM, NFTs in museums and galleries, and a DAM token that will represent fractionalized ownership and control of the DAM initiativeās NFT collection.
āDAM tokens will be a fair-launch project, with zero team token allocation,ā Machi wrote in AIP-304. āInitial token distribution will go to users that timelock ApeCoin for up to 5 years, decentralizing governance to the ApeCoin community. One ApeCoin locked for 5 years creates an initial balance of one time locked APE (tlAPE), with the balance decaying linearly over time toward unlock. This means 100 ApeCoins locked for 5 years is equal to 500 ApeCoins locked for 1 year.ā
"Along with DAM beginning to purchase NFTs, the ApeCoin DAO's Ape Accelerator program is about to host the web3 MMORPG, Space Nation, on its launchpad later this week!
$Apes and members of the Yugaverse who are interested in participating in the program's first-ever mint must complete KYC by tomorrow afternoon here: https://bit.ly/AAVerify
Thank you so much for reading this weekās edition of the ApeCoin DAO-N Low and be sure to follow the Bored Ape Gazette on Twitter to stay up to date with all things $Ape!
Best,
Kyle
Editor-In-Chief
Bored Ape Gazette