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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.

By Oliver Knight
AccessTimeIconJul 28, 2022 at 3:04 p.m. UTC
Updated May 11, 2023 at 4:24 p.m. UTC
The Bored Ape Gazette will be funded by ApeCoin. (Bored Ape Yacht Club, modified by CoinDesk)
The Bored Ape Gazette will be funded by ApeCoin. (Bored Ape Yacht Club, modified by CoinDesk)
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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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight
    Oliver Knight

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

    Follow @OKnightCrypto on Twitter

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