ApeCoin Proposal to Fund 24-Hour BAYC News Site Wins Community Approval

The Bored Ape Gazette will focus on all Yuga Labs projects while while including NFT market data.

AccessTimeIconJul 28, 2022 at 3:04 p.m. UTC
Updated Jul 28, 2022 at 3:21 p.m. UTC

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

ApeCoin (APE) – the native token of the Bored Ape Yacht Club (BAYC) ecosystem – will be used to fund the Bored Ape Gazette, a 24-hour news site covering BAYC creator Yuga Labs and the APE DAO.

  • Dubbed AIP-70, the proposal – which involves allocating a portion of the project's ecosystem fund to enhance the news site – was approved by the community on Thursday. The overall cost of updating and operating the Bored Ape Gazette website is expected to be $150,000 for the first year.
  • The ApeCoin Foundation will now work on implementation of the proposal in line with decentralized autonomous organization (DAO) governance protocols.
  • The website will also include an ApeCoin price chart, a DAO tracker that monitors governance votes, an APE calendar and a live sales ticker showing activity across all Yuga Labs projects.
  • ApeCoin and its DAO launched in March, with all Yuga Labs NFT token holders being airdropped the APE token.
  • APE surged 11.9% over the past 24-hours to trade at $6.54, still well below an all-time high of $26.19 hit on April 28 before tumbling amid wider crypto market pressure and dwindling interest across the NFT market.

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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

CoinDesk - Unknown

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

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