ApeCoin DAO Votes To Fund Bored Ape Yacht Club 24-Hour News Website Using APE

The popular community-based crypto phenomenon that began with the Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) continues to expand.

According to a forum post on the website of BAYC’s affiliated digital asset ApeCoin (APE), the community has just voted overwhelmingly to boost funding for an online news site called The Bored Ape Gazette.

Back in mid-June, a proposal was posted to the forum seeking approximately $150,000 in annual funding for the publication through a grant from the ApeCoin decentralized autonomous organization (DAO).

The proposal’s author said,

“We have a plan to turn the Bored Ape Gazette into a sustainable business model over the course of one year and I am requesting a grant from the community to help me accomplish this goal.”

Enhancements include a live ticker to track NFT artwork sales, an APE price chart and a community event calendar.

The Gazette launched in June of 2021 and functions as an information source regarding all aspects of the Ape community. Topics include activity by project founder Yuga Labs, the Otherside metaverse, and new NFT creations.

Yesterday a forum member with the username moonkt announced that more than 87% of the community voted to approve the additional funding.

The official ApeCoin then took to Twitter to inform its 377,000 followers that the vote had passed.

“We’re here to fund your ambition. Keep the ideas coming, gang.”

ApeCoin witnessed a strong rally throughout most of the week, at one point rising by 30.2% from $5.49 to $7.15.

APE has corrected slightly, down 3.36% on the day and trading for $6.69.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Catalyst Labs/WindAwake