Animoca Brands co-founded the "ApeCoin Ventures" proposal, suggesting to jointly create a 10 million dollar fund with ApeCoin
Animoca Brands co-founder Yat Siu has initiated a proposal related to "ApeCoin Ventures". The proposal shows that Animoca Brands' early-stage venture capital arm, Animoca Ventures, proposes to establish ApeCoin Ventures. This is in order to combine the historical expertise of Animoca Ventures with the strong influence of the community and expand the popularity and scale adoption of ApeCoin.
In a 1:1 matching structure, the proposal suggests deploying $5 million worth of APE from ApeCoin DAO and matching it with $5 million in fiat funds from Animoca Ventures, creating a combined fund of $10 million. By jointly investing in early-stage Web3 companies, both parties will promote and encourage comprehensive use and adoption of ApeCoin. Their investment strategy targets seed round and Series A financing stage companies, prioritizing those that can integrate ApeCoin into their ecosystems.
After successful exit, 50% of token profits will be sent back to ApeCoin DAO with plans to convert profits back into ApeCoins (or as one option).
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