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 May 11, 2023 at 4:24 p.m. UTC

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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

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

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.