Animoca initiates a new proposal to collaborate with ApeCoin to launch a new fund of 10 million dollars

ChainCatcher message, Animoca Brands' venture capital division Animoca Ventures has initiated a proposal at ApeCoin DAO, suggesting the establishment of a joint venture fund called ApeCoin Ventures in collaboration with ApeCoin.

The ApeCoin Ventures fund has a scale of 10 million USD, of which ApeCoin DAO is required to allocate 5 million USD worth of APE (which Animoca Ventures will sell for fiat currency upon receipt), and Animoca Ventures will contribute 5 million USD. The fund will invest in seed and Series A Web3 projects, prioritizing those that can integrate ApeCoin into their ecosystems, thereby enhancing the value, utility, synergy, network effects, and influence of ApeCoin.

The proposal is currently open for voting, with a current support rate of 83.49%. Voting will end on August 1.