Animoca Ventures launches a proposal to establish ApeCoin Ventures in the ApeCoin DAO community

BlockBeats reported that on July 21, according to the Snapshot governance page, Animoca Ventures, the early venture capital arm of Animoca Brands, initiated a proposal vote in the ApeCoin DAO community to "establish ApeCoin Ventures."

According to the proposal, ApeCoin DAO will invest $5 million in APE tokens, and Animoca Ventures will provide $5 million in fiat currency for a 1:1 match, to jointly establish an investment fund with a total size of $10 million. The fund will focus on investing in early Web3 projects in the seed and Series A stages, giving priority to projects that can integrate APE tokens into their ecosystems.

After the investment is successfully exited, 50% of the token proceeds will be returned to ApeCoin DAO, with plans or options to redeem profits back to APE. ApeCoin Ventures will charge a 1% management fee for project review, due diligence, ecological support, cooperative promotion and other operational work.