ApeCoin DAO To Provide Bored Ape Site With $150K
- ApeCoin DAO has confirmed plans of funding Bored Ape website with $150,000 followed by creating of a newsletter, paying freelancers, and revamping the site
- The Bored Ape Gazette will be transformed into a 24-hour style news site after the AIP-70, passed with flying colors
The NFT market seems to be in trouble right now due to a huge decline in volume, dropping prices, and people voicing their concerns regarding the environmental impacts. However, ApeCoin, the project maintained by the creators of the Bored Ape Yacht NFT collection (BAYC), shows no signs of stopping.
The ApeCoin Decentralized Autonous Organization (DAO), a decentralized firm which uses APE as its governance token to give power to the holders, has officially passed a proposal known as AIP-70 which will allow the firm to revamp the Bored Ape Gazette.
Interestingly, there were 1.1 million APE staked for the proposal while 149,000 APE were stake against the proposal leading to the undisputed win of the former. Hence, as per the proposal, around $150,000 will be allocated to the construction and improvement of the website.
As per the Twitter account of the NFT project, the Gazette, which gives update about the Bored Ape Yacht Club (BAYC) NFTs as well as Mutant Apes (MAYC), Kennel Club (BAKC), and Otherside, the upcoming metaverse game from Yuga Labs.
The ApeCoin DAO expect the funds to last for over a year and the money will also be diverted to the site’s sole writer and editor Kyle Swenson. Swenson will be paid over $7,000 per month to create more written content for the website and also focus on the news related to the DAO.
A bi-weekly Bored Ape Gazette newsletter will also be created as per the proposal and Swenson will be responsible for it as well.
Additionally, it is also important to note that the DAO plans to create a “24-hour style news site complete with a live BAYC, MAYC, BAKC and Otherdeed sales ticker, an $Ape price chart complete with a tradeview, a calendar showing important dates such as DAO votes and other community related events, a classifieds section where community members can list their BAYC/ Yuga related art and services.”
A similar proposal was created by the DAO for shifting the ApeCoin project from Ethereum (ETH), due to its huge gas fees, to a blockchain created specifically for the project. However, the proposal was shot down by the voters.
“This is a community paper that should be written by members of the $Ape community!”
the proposal reads.
The website has yet to grow as according to the data from SimilarWeb, only 52,400 total visits have been recorded since its inception over a year ago in June 2021.
“Objective reporting is important to me,” Swenson told Decrypt via Twitter DM. “The Gazette will always be a voice for the community and I work hard to be balanced when covering any story.”
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
