ApeCoin DAO agrees to provide a grant for a BAYC news site

BAYC community approved the AIP-70 proposal, which involved allocating a portion of ApeCoin DAO’s funds to revamp the Bored Ape Gazette.

Image: theboredapegazette.com

“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,” the proposal reads. The requested amount of funding is $150,000 for the first year, as the estimated cost of running the website is $10,000 a month.

Founded in June 2021, the Bored Ape Gazette covers everything in the Bored Ape ecosystem, keeping the community informed about “all things ape.” With the support of DAO, the website plans to become a 24-hour news site and add new features, including live NFT sales from the BAYC, MAYC, BAKC and Otherdeed collections, an ApeCoin price chart, DAO activity tracker, and a calendar of upcoming community events.

The Bored Ape Gazette also plans to expand the staff of journalists, welcoming all community members who would like to get involved with the paper. The expected pay is $100 per published article.

Currently, the ApeCoin Foundation is working on implementing the community proposal in accordance with the DAO governance protocols.

ApeCoin DAO launched in March, airdropping 15% of the total APE supply to NFT holders. APE is a governance token of the BAYC ecosystem, entitling the holder to participate in DAO voting.