According to ChainCatcher's message, the proposal to establish ApeCoin Ventures initiated by Animoca Ventures, the early-stage venture capital arm of Animoca Brands, has been approved by votes on the Snapshot governance page of the ApeCoin DAO community.The voting results show a support rate of 84.27%, which means that the ApeCoin DAO will contribute $5 million worth of APE tokens, and Animoca Ventures will provide $5 million worth of fiat currency for a 1:1 match, jointly forming an investment fund with a total scale of $10 million. This fund will focus on investing in early Web3 projects in the seed and Series A stages, with a priority on projects that can integrate APE tokens into their ecosystems.

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.

ChainCatcher news, Animoca Brands' early-stage venture capital arm Animoca Ventures has proposed the establishment of ApeCoin Ventures on the ApeCoin DAO community forum.According to the proposal, ApeCoin DAO will contribute $5 million worth of APE tokens, and Animoca Ventures will provide $5 million worth of fiat currency for a 1:1 match, jointly forming an investment fund with a total size of $10 million. The fund will focus on investing in early Web3 projects at the seed and Series A stages, prioritizing projects that can integrate APE tokens into their ecosystems.After successful exits from investments, 50% of the token profits will be returned to ApeCoin DAO, with plans or options to convert the profits back to APE. ApeCoin Ventures will charge a 1% management fee for operational tasks such as project review, due diligence, ecosystem support, and collaborative promotion.Animoca Ventures stated that with its expertise in venture capital and the vitality and influence of the community, ApeCoin Ventures will be dedicated to enhancing the utility and adoption of APE tokens, introducing high-quality projects with synergies to the ApeCoin ecosystem, and driving long-term value growth for the ecosystem. Animoca Brands has previously successfully invested in numerous star projects, including Yuga Labs, The Sandbox, and Axie Infinity.It is reported that the proposal is expected to support up to 80 seed/Series A stage Web3 projects, with individual investments ranging from $100,000 to $250,000. If the funds are not fully deployed within two years, the remaining APE tokens will be returned.