The ApeCoin DAO community has recently proposed a plan to acquire influential NFT collections in order to strengthen the Web3 ecosystem and enhance the adoption and usage of the ApeCoin token ($APE). The proposal suggests allocating 750,000 APE to a vault as an initial budget to purchase the desired NFT collections.
The important NFT collections included in the proposal are Mutant Ape Yacht Club (MAYC), Bored Ape Yacht Club (BAYC), Cool Cats, The Sandbox virtual land, Pudgy Penguins, World of Women NFT, Mocaverse Mocas, and Otherdeeds. These collections are considered valuable assets within the NFT space and acquiring them would bring significant benefits to the ApeCoin ecosystem.
To execute the proposal, a sister DAO will be established within the ApeCoin DAO ecosystem. This sister DAO will manage the NFT vault and facilitate cross-community collaboration among different NFT communities. The NFTs acquired through this process will be governed by the community and their usage and mobilization will be determined by the ApeCoin holders.
The proposal also outlines the role of $APE holders in the NFT acquisition and development process. $APE holders will have the opportunity to use the acquired IP through potential grants. The distribution of $APE for NFT purchases will be controlled by a committee, ensuring a fair and transparent process.
The Sister DAO, governed by $APE holders, will have the authority to decide which NFT IPs to rent to proposers for specific projects. It can also provide funding for the development of these projects using the vault’s NFT IPs. The members of the Sister DAO will only need to own 1$APE to participate, allowing for wider community involvement.
The proposal put forward by Animoca Brands Co-creator Yat Siu has received significant support, with 73.87% of votes in favor as of September 21. This proposal aims to revitalize the ApeCoin community, which has experienced a decline in value in recent months.
The acquisition of influential NFT collections through the Sister DAO and the use of $APE for grants and development will contribute to the growth and development of the ApeCoin ecosystem. As the proposal moves forward, it is expected to bring new opportunities and benefits to ApeCoin holders and the broader Web3 community.
In conclusion, the launch of the Sister DAO and the proposal to acquire influential NFTs demonstrate the commitment of the ApeCoin DAO community to strengthen the Web3 ecosystem and enhance the usage and adoption of the ApeCoin token. With the support of $APE holders and the governance of the Sister DAO, the acquisition and management of these NFT collections will contribute to the growth and success of the ApeCoin ecosystem.
