Business News Report
May 18, 2023

ApeCoin DAO Entrusts Forj to Build First-Ever Bored Ape Yacht Club Ecosystem Accelerator

In Brief

Animoca Brands subsidiary Forj has won approval from the ApeCoin DAO community the launch the first-ever Ape Accelerator.

This new initiative was submitted and approved via ApeCoin DAO’s Idea Proposal system, AIP-209.

The accelerator will incubate and launch projects that benefit the $APE and BAYC ecosystems.

Animoca Brands subsidiary, Forj, has been granted approval from the ApeCoin DAO community the launch the first-ever Ape Accelerator. The incubation program was submitted and approved via ApeCoin DAO’s Idea Proposal system, AIP-209.

The ApeCoin DAO community also granted Forj an undisclosed amount of APE tokens to support the launch and building of the accelerator. ApeCoin community members can engage in the accelerator program as Initiators, Voters, and Participants. 

Initiators have the opportunity to submit project proposals for incubation, while Voters will use their APE tokens to cast votes on whether these proposed projects should be launched. Once approved, participants can show their backing for these projects by purchasing NFTs and other tokens.

Initially operating on the Ethereum network, the launchpad within Ape Accelerator will incorporate a tiered participation structure, contingent upon users’ APE stakes and qualifying NFT holdings. Users will be assigned tiers that determine advantages such as priority sales, increased purchase limits, and enhanced allocations of rare NFTs. The criteria for each tier can be established through a voting process conducted by ApeCoin DAO.

Forj CMO Charles Stanton told Metaverse Post in an email that the Ape Accelerator is designed to support and incubate projects directly beneficial to the $APE and BAYC ecosystem. These projects can range from physical products featuring Yuga IP to projects that utilize the $APE token within their economy or platform, resulting in a net positive for the $APE community.

“The Ape Accelerator is an incubator and launchpad, and through Forj’s connections within Animoca Brands and the wider web3 industry we’re well-positioned to offer a range of support including strategic guidance, expertise, go-to-market guidance, connections, and much more,”

Stanton added.

Projects looking to launch via the Ape Accelerator will have to submit a proposal using $APE tokens, and holders of $APE and BAYC ecosystem NFTs will then be able to access the launchpad to invest in these projects.

Harry Liu, CEO of Forj, said of the new initiative: “We are thrilled to have the support of the ApeCoin DAO community to bring Ape Accelerator to life. Our goal is to create new opportunities for builders and creators within the Bored Ape Yacht Club ecosystem, and with Ape Accelerator we can empower projects that will achieve just that.”

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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