ApeCoin Community Approves $10M Venture Capital Fund Proposal

IconCryptoNewsTerminal Staff01 Aug, 2024

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ApeCoin Community Approves $10M Venture Capital Fund Proposal

ApeCoin Community Establishes $10M Venture Capital Fund The ApeCoin (APE) community has voted in favor of a governance proposal to establish a venture capital fund called ApeCoin Ventures. The proposal was put forward by Animoca Brands subsidiary Animoca Ventures and received 84% approval. ApeCoin DAO will contribute $5 million worth of APE to the fund, while Animoca Ventures will match this contribution with an additional $5 million. The fund will focus on investing in early-stage Web3 startups that align with the ApeCoin ecosystem. The creation of ApeCoin Ventures is a significant step for the ApeCoin community as it seeks to expand its ecosystem and support the growth of Web3. The fund will provide much-needed capital to promising Web3 projects and help to accelerate the development of the ApeCoin ecosystem.

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