The Bored Ape Gazette is set to receive a funding boost of $150,000 from ApeCoin DAO.
The financial support of $150,000 from the ApeCoin DAO will be funneled into The Bored Ape Gazette’s operations.
The Bored Ape Gazette provides comprehensive coverage of Yuga Labs' NFT initiatives, including popular projects like The Bored Ape Yacht Club, Mutant Apes, Kennel Club, and Otherside.
On June 17, The Gazette introduced a proposal In a statement, someone asserted their strong faith in the community’s strength and expressed a desire to work full-time on The Bored Ape Gazette, outlining plans to evolve it into a profitable business within a year while seeking community support for a grant.
Over a million ApeCoin token holders participated in a vote that ended favorably for this funding proposal. Consequently, the DAO will allocate $150,000 towards establishing a 24/7 newsletter and revamping the site.
$150,000 is allocated for the first year's expenses. Additionally, the chief editor, Kyle Swenson, will receive an annual salary of $84,000, overseeing all Yuga Labs-related news and developing a bi-weekly newsletter for The Bored Ape Gazette.
The remaining $66,000 is earmarked for website upgrades and payments to freelance writers who will earn $100 for each story they contribute, with a preference for hiring members from the community.
"We have unwavering confidence in the support of our community and wish to dedicate ourselves to this full-time. We plan to transition The Bored Ape Gazette into a self-sufficient business model over the next year; thus, I'm requesting a grant to help ensure this happens,\" commented Swenson.
Read related posts:
Disclaimer
In line with the Trust Project guidelines It's crucial to remember that the information offered here is not meant to serve as legal, financial, or investment advice. Always consider investing only what you can afford to lose, and seek independent financial counsel if you're uncertain. For further clarification, we recommend reviewing the terms and conditions along with the help pages from the issuer or advertiser. MetaversePost aims to deliver precise and unbiased reporting, though market conditions can change unexpectedly.
