Animoca Ventures' proposal to launch ApeCoin Ventures passed with 84.27% in favor
A proposal by Animoca Ventures, the early-stage venture capital arm of Animoca Brands, to initiate the formation of ApeCoin Ventures was approved with 84.27% in favor, according to the Snapshot governance page. As required by the proposal, ApeCoin DAO will contribute the $500 equivalent of APE tokens and be matched 1:1 by Animoca Ventures with the $5 million equivalent in fiat currency, to jointly form a $10 million total investment fund, which is said to focus on investing in early-stage Web3 projects at the seed and Series A stages, with a preference for those that are able to integrate APE tokens into its ecosystem.
As previously reported, Animoca launched a proposal to partner with ApeCoin to launch a new $10 million fund, ApeCoin Ventures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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