The NFT market as a whole decelerationthe Bored Ape-focused news outlet is getting a big boost thanks to the ApeCoin DAO treasury.
Apecoin DAOa decentralized organization anything that uses cryptocurrency ape coin As its governance token – voted in favor of funding news sites The Bored Ape Gazette.
Proposal also known as AIP-70, successfully passed. Over 1.1 million of his ApeCoin tokens voted in favor, 149,000 ApeCoin tokens voted against gazette‘s proposal to allocate $150,000 to fund the site of . Boad Ape Yacht Club (BAYC) NFT, Mutant Apes (MAYC), Kennel Club (BAKC), and Yuga Labs’ upcoming metaverse game, Otherside.
The funding is expected to last for one year.
The money will go towards paying sole writer and editor Kyle Swenson $7,000 a month to produce more written content, with a focus on ApeCoin DAO news and bi-weekly productions. boredom monkey gazette Newsletter.
NFTsSince the Bored Ape Yacht Club NFT was first issued in April 2021, it is a unique blockchain token of ownership and has seen massive investment. According to CryptoSlam data, the BAYC collection alone has reached $2.3 billion in transaction volume. And its creator, Yuga Labs, $4 billion It dates back to March.
The proposal also details plans to add a price tracker for ApeCoin and activity trackers for BAYC, MAYC, BAKC and Otherdeed. ethereum NFT collection. The remaining funds will be used to pay a freelancer her $100 per story with the aim of hiring writers from the ApeCoin DAO community.
“This is a community paper to be written by members of the $Ape community!” the suggestion reads.
Small sites have plenty of room to grow.According to similar web data, The Bored Ape Gazette Since its launch over a year ago in June 2021, there have been only 52,400 total visits.
The site, created by BAYC supporters and funded by ApeCoin DAO, raises questions about the apparent risks of biased reporting given that Swenson himself is a long-time BAYC holder.
‘Objective reporting is important to me,’ Swenson said Decryption DM on Twitter. ” gazette Always be a voice for the community and try to strike a balance when covering stories.
” gazette Instead of propaganda, we report the news that apes need to know,” he added.
Based in Orlando, Florida, Swenson was a two-time intern at the Dow Jones News Fund. Orlando Business Journaland was editor-in-chief of the Independent night news It covers the University of Central Florida.before launch The Bored Ape Gazettehe was known for “Thrift with Kyle,” an online clothing reseller and community.
As for his goals moving forward, Swenson wants to filter out the “noise” that can proliferate on social media.
“My goal is not to tell people what to think. My goal is to give the community the critical information they need to make their own decisions.”
ApeCoin DAO is not responding yet Decryptionrequest for comment.
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