ApeCoin DAO currently voting in favor of sister DAO to acquire NFTs

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By BitcoinWiki News

Key Takeaways:

– Proposal seeks to establish a sister DAO and allocate 750,000 APE to acquire influential NFTs
– Over 70% approval in early ApeCoin DAO voting
– AIP-297 proposal co-authored by Animoca Brands co-founder Yat Siu
– Objective is to position ApeCoin as the culture token for the web3 ecosystem
– Proposed list of floor price NFTs includes Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Cool Cats, World of Women, and Pudgy Penguins
– NFTs will be managed by a community-governed vault
– Sister DAO members holding at least 1 APE token will make decisions regarding the NFTs
– Sister DAO can lease NFT IPs to APE holders and offer APE grants
– Aims to benefit ApeCoin ecosystem by increasing adoption and utility
– Sister DAO will decide on NFT IP rentals, allocate APE funding, and determine future NFT sales and acquisitions
– Recommended budget of 750,000 APE includes 500,000 APE for NFT purchases and 250,000 APE for future purchases and vault maintenance
– Voting on the proposal started on Sept 14 and will close on Wednesday
– 72.8% of APE favor the proposal, while 27.2% are against
– If approved, next steps include setting up a multi-signature wallet, acquiring NFTs, submitting governance proposals, and launching a webpage to display the acquired NFTs.


A proposal has received over 70% approval in early ApeCoin DAO voting to establish a sister DAO and allocate 750,000 APE tokens to acquire influential NFTs. The proposal, known as AIP-297 and co-authored by Animoca Brands co-founder Yat Siu, aims to position ApeCoin as the culture token to power the broader web3 ecosystem. The proposed list of NFTs to be acquired includes various collections such as the Bored Ape Yacht Club, Mutant Ape Yacht Club, Cool Cats, World of Women, and Pudgy Penguins. These NFTs will be managed by a community-governed vault, with decisions made by sister DAO members holding at least 1 APE token. The proposal suggests that leasing the NFT IPs to APE holders and offering potential APE grants will benefit the ApeCoin ecosystem by increasing adoption and utility. The sister DAO will operate separately from the main ApeCoin DAO and will determine NFT IP rentals, allocate APE funding for projects, and decide on future NFT sales and acquisitions. The proposed budget of 750,000 APE tokens includes 500,000 APE for purchasing NFTs and 250,000 APE for future purchases and initial vault maintenance. The voting for the proposal will conclude on September 15th, and if approved, the next steps involve setting up a multi-signature wallet, acquiring the NFTs, submitting governance proposals, and launching a web page to display the acquired NFTs in the vault.

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