Animoca Ventures proposes to collaborate with ApeCoin to launch a new fund, ApeCoin Ventures

2024-07-21 21:30:28

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According to ChainCatcher news, the Snapshot information shows that Animoca Brands' venture capital division, Animoca Ventures, has proposed to establish a joint venture fund, ApeCoin Ventures, in collaboration with ApeCoin DAO. The fund aims to invest in seed and Series A rounds of Web3 projects, prioritizing those that can integrate ApeCoin into their ecosystems, thereby enhancing the value, utility, synergy, network effects, and influence of ApeCoin. The size of the ApeCoin Ventures fund is $10 million, with ApeCoin DAO required to allocate $5 million worth of APE (which Animoca Ventures plans to sell for fiat currency), and Animoca Ventures contributing $5 million. The proposal is currently open for voting, with a current support rate of 83.49%, and voting will end on August 1.

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