TechFlow News — According to Snapshot data, Animoca Brands' venture arm, Animoca Ventures, has submitted a proposal to ApeCoin DAO to jointly establish a new venture fund called ApeCoin Ventures with ApeCoin DAO. The fund will invest in Web3 projects at the seed and Series A stages, prioritizing those that integrate ApeCoin into their ecosystems to enhance ApeCoin's value and influence.
The proposed fund will total $10 million, with ApeCoin DAO contributing $5 million worth of APE tokens (which Animoca Ventures plans to sell for fiat currency) and Animoca Ventures committing $5 million in cash. The proposal is currently open for voting, with 83.49% support, and voting will conclude on August 1.
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