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ApeCoin DAO Community Votes to Fund Bored Ape News Website

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Bored Ape Yacht Club (Bayc) Floor Price Falls To 70 Ethereum ($87,710)
  • The plan, known as AIP-70, received a resounding approval.
  • There have only been 52,400 total visitors to The Bored Ape Gazette.

The ApeCoin DAO’s treasury has given a boost to a Bored Ape-focused news organization, despite the NFT market slowing down. Decentralized ApeCoin DAO, which utilizes ApeCoin as its governance token, has voted to finance the news site The Bored Ape Gazette.

The plan, known as AIP-70, received a resounding approval. Over 1.1 million ApeCoin tokens voted in support of the Gazette’s plan to contribute $150,000 to finance its site, which includes news about the Bored Ape Yacht Club (BAYC) NFTs, Mutant Apes (MAYC), Kennel Club (BAKC), and Otherside, Yuga Labs’ future metaverse game.

BAYC Centric News Agency

The funds will be used to pay its lone writer and editor, Kyle Swenson, $7,000 a month to produce additional written material, with an increased emphasis on ApeCoin DAO news and the establishment of a biweekly Bored Ape Gazette newspaper.

Since the Bored Ape Yacht Club NFTs were first issued in April 2021, there has been a tremendous investment in NFTs—unique blockchain tokens that represent ownership. According to CryptoSlam statistics, the BAYC collection alone has exchanged $2.3 billion. Its developers, Yuga Labs, were valued at $4 billion in March.

Proposals for ApeCoin price and activity monitors are also included in the proposal, as well as proposals for other Ethereum NFT collections. In order to hire ApeCoin DAO community members, the remaining money will be used to pay freelancers $100 an article.

The modest site has the potential to expand. There have only been 52,400 total visitors to The Bored Ape Gazette since it was launched in June 2021, according to statistics from SimilarWeb.

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