ApeCoin DAO funds The Bored Ape Gazette with $150,000
ApeCoin DAO, a decentralized autonomous organization, backed by Yuga Labs, will provide “The Bored Ape Gazette” news site with $150,000.
The Bored Ape Gazette covers Yuga Labs’ NFT projects’ news – including The Bored Ape Yacht Club, Mutant Apes, Kennel Club, and Otherside.
On June 17, The Gazette introduced a proposal that states: “We fully believe in the power and support of this community and would like to work for it full time. We have a plan to turn the Bored Ape Gazette into a sustainable business model over the course of one year and I am requesting a grant from the community to help me accomplish this goal.”
More than a million holders of ApeCoin tokens, which are used as the governance token of ApeCoin DAO, voted in favor of the proposal. As a result, ApeCoin DAO will provide The Bored Ape Gazette with $150,000 to create a 24-hour newsletter and renovate the website.
$150,000 is the overall cost for the first year. In addition, writer and editor-in-chief Kyle Swenson will get an $84,000 salary. He will be in charge of Yuga Labs-themed news content and the development of a bi-weekly Bored Ape Gazette newsletter.
The other $66,000 will be used for the website renewal and freelance writers’ payments. The latter will receive $100 per story, according to Kyle Swenson. On a side note, ApeCoin DAO aims to hire community members for this job.
“We fully believe in the power and support of this community and would like to work for it full time. We have a plan to turn the Bored Ape Gazette into a sustainable business model over the course of one year and I am requesting a grant from the community to help me accomplish this goal,” said Swenson.
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