“Unleashing the Potential of Metaverse: Animoca Brands Proposes Collaborating with ApeCoin to Establish a Multimillion-Dollar Joint Venture Fund”

"Unleashing the Potential of Metaverse: Animoca Brands Proposes Collaborating with ApeCoin to Establish a Multimillion-Dollar Joint Venture Fund"

"Unleashing the Potential of Metaverse: Animoca Brands Proposes Collaborating with ApeCoin to Establish a Multimillion-Dollar Joint Venture Fund"

According to the governance proposal of ApeCoin DAO, Yat Siu, co-founder of Animoca Brands, has initiated the proposal of “ApeCoin Ventures” in the community, suggesting to allocate 5 million US dollars worth of APE tokens from ApeCoin DAO and combine them with 5 million US dollars of fiat currency from Animoca Ventures to establish a joint venture fund called ApeCoin Ventures.

Yat Siu stated that the fund will be managed and operated by James Ho, the Director of Strategic Partnerships at Animoca Brands, and other members of the Animoca Ventures team. The goal is to promote and incentivize the comprehensive utility and adoption of ApeCoin through co-investments in early-stage Web3 companies.

The key points of the fund’s operational model are as follows:
– Mainly targeting seed and Series A funding stages of startups, with a preference for companies that can integrate ApeCoin into their ecosystems.
– A deployment period of 2 years for the funds, and any remaining APE will be refunded if not deployed within the specified timeframe.
– Target investment amounts ranging from $100,000 to $250,000 for each startup.
– Animoca Ventures will charge a management fee of 1%.

In addition, Yat Siu has also pledged that when an investment case successfully exits, 50% of the token profits will be returned to the DAO. This portion of the profits is planned (or chosen) to be converted into ApeCoin, thus reinvesting in ApeCoin. The purpose of doing this is to increase the utility and adoption of ApeCoin.

Based on the comments under the proposal, the ApeCoin community generally expresses support for this proposal.