The ApeCoin DAO has placed its trust in Forj to establish the first-ever accelerator dedicated to the Bored Ape Yacht Club ecosystem.
In Brief
Forj, a subsidiary of Animoca Brands, has successfully secured approval from the ApeCoin DAO community to launch the first-ever Ape Accelerator.
This fresh initiative received its backing through ApeCoin DAO's Idea Proposal system under the label AIP-209.
The accelerator is set to nurture and propel projects that will positively impact the ecosystems of $APE and BAYC.
The ApeCoin DAO community has also allocated an undisclosed amount of APE tokens to aid in the initiation of the accelerator project. Members of the ApeCoin community will be able to participate as Initiators, Voters, and Participants.
Initiators can put forward their project ideas for incubation, while Voters are empowered to use their APE tokens to decide if these proposed ideas should move forward. Once a project is approved, supporters can back it by acquiring NFTs and other tokens.
Initially, the launchpad for the Ape Accelerator will run on the Ethereum network and will feature a tier-based participation system based on the APE stakes and NFT holdings of users. Users will be categorized into tiers that provide benefits such as priority purchasing, higher buy limits, and greater access to exclusive NFTs. The specifics for each tier will be determined by a voting process facilitated by the ApeCoin DAO.
Forj's CMO, Charles Stanton, shared with Metaverse Post that the Ape Accelerator is meant to assist and nurture projects that will directly benefit the $APE and BAYC platforms. These initiatives could vary widely, encompassing physical items featuring Yuga's intellectual property and projects that utilize the $APE token within their ecosystem, ultimately yielding positive outcomes for the $APE community.
"The Ape Accelerator serves as both an incubator and a launchpad. With our connections spread across Animoca Brands and the broader web3 landscape, we’re poised to provide a comprehensive suite of support, including strategic direction, expertise, market entry strategies, and valuable networking opportunities,\" stated Stanton.
To launch through the Ape Accelerator, projects will need to propose their plans by using $APE tokens, giving holders of $APE and BAYC NFTs access to the launchpad for funding these initiatives.
Stanton added.
Harry Liu, Forj's CEO, expressed excitement about this new venture, saying, \"We are excited to have the backing of the ApeCoin DAO community to bring the Ape Accelerator to fruition. Our mission is to cultivate fresh opportunities for innovators and creators within the Bored Ape Yacht Club ecosystem, and the Ape Accelerator will empower projects to achieve that.”
ApeCoin suffered a 40% decline during an unfortunate land sale event.
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Disclaimer
In line with the Trust Project guidelines Cindy, a journalist at Metaverse Post, covers a variety of topics concerning web3, NFTs, the Metaverse, and AI. She focuses on interviewing prominent figures in the Web3 sector, having talked to over 30 C-level executives, offering readers valuable insights. Cindy originally hails from Singapore but has now made Tbilisi, Georgia, her home. She has a Bachelor’s degree in Communications & Media Studies from the University of South Australia and boasts a decade of experience in journalism.
