ApeCoin DAO Voting: Proposal to Establish Sister DAO and Acquire Influential NFTs Gains Approval
In early ApeCoin DAO voting, a proposal has received over 70% approval seeking to establish a sister DAO and allocate 750,000 APE for the acquisition of influential NFTs.
The proposal, known as AIP-297, was co-authored by Yat Siu, co-founder of Animoca Brands, in July. Its objective is to position ApeCoin as the culture token powering the broader web3 ecosystem, according to the voting page.
If approved, the sister DAO will manage a collection of floor price NFTs including Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, Cool Cats, World of Women, and Pudgy Penguins. The NFTs will be stored in a community-governed vault with decisions made by sister DAO members who hold at least 1 APE token ($1.16).
ApeCoin Ecosystem Benefits
The proposal aims to lease the NFT IPs to APE holders and potentially offer APE grants in the future. This strategy is expected to benefit the ApeCoin ecosystem by increasing adoption and utility beyond its current applications. It allows the community to utilize the NFTs without owning them or deploying capital.
Operating independently from the main ApeCoin DAO, the sister DAO will determine NFT IP rentals for specific projects, allocate APE funding for project development using the vault’s NFT IPs, and decide on future NFT sales and acquisitions for the vault.
Next Steps
Voting on the Snapshot decentralized voting platform began on September 14th and will conclude on Wednesday. As of now, 4.3 million APE (72.8%) support the proposal, while 1.6 million APE (27.2%) are against it.
If approved, the next steps include setting up a multi-signature wallet, deploying the APE grant to acquire the NFTs, submitting the first governance proposal through the sister DAO for NFT rental facilitation, and launching a web page to showcase the acquired NFTs in the vault.
Hot Take: ApeCoin DAO Advances with Sister DAO and NFT Acquisition
The ApeCoin DAO voting on establishing a sister DAO and acquiring influential NFTs has garnered significant approval. This move aims to position ApeCoin as a culture token fueling the wider web3 ecosystem. By leasing NFT IPs and offering grants to APE holders, the proposal seeks to drive adoption and utility beyond current applications. The sister DAO will play a crucial role in managing the NFT collection and making decisions related to rentals, funding, sales, and acquisitions. The voting results indicate strong support for this initiative, signaling potential growth and expansion for the ApeCoin ecosystem.
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