TechFlow reported on August 1 that, according to the Snapshot page, the proposal by Animoca Ventures to jointly establish a joint venture fund named ApeCoin Ventures with ApeCoin has passed with 84.27% approval.
Previous report: Animoca Brands' venture capital arm, Animoca Ventures, submitted a proposal to ApeCoin DAO proposing to co-found a joint venture fund called ApeCoin Ventures together with ApeCoin, investing in Web3 projects at seed and Series A stages. The 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.
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