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AIP-438: ApeCoin Ventures
PROPOSAL DESCRIPTION
Team Formation
Animoca Ventures, an early stage venture capital arm of Animoca Brands, proposes the establishment of ApeCoin Ventures – combining Animoca Ventures historical expertise with the community’s strong reach to amplify awareness and scale adoption and utilities of ApeCoin.
In a 1:1 matching structure, we propose the deployment of USD$5 million worth of $APE from the ApeCoin DAO, to be matched by Animoca Ventures’ funding of USD$5 million in fiat to create a combined US$10 million fund. Funding from Animoca Ventures ensures that interests of both parties are fully aligned for joint success.
The fund management is currently provided by ASCENT Fund Services. ASCENT’s role is to be a custodian and disburse funds, they don’t make fund decisions. They are licensed for these types of operations and we would set up the legal entity for this, which would happen very quickly should the AIP be approved. The suggestion is to liquidate the $APE received into cash as soon as practical so that we can match the amount in dollars.
No multi-sig wallet would be utilized because ASCENT would basically be managing fiat, so we would manage an orderly sale process. Animoca Ventures would be receiving the ApeCoin and sell the $APE to then deposit it as fiat to ASCENT, which would be matched with $5m of Animoca Ventures funds.
Investment Ventures
By investing together into early web3 ventures, we will drive and encourage integrated utilities and adoption for ApeCoin – leveraging our venture expertise to the community’s energy, reach, as well as opportunities, to generate long-term value for ApeCoin DAO and its relevant ecosystem.
Our investment strategy targets seed and Series A stage start-ups, prioritizing those that can integrate ApeCoin into their ecosystem with the goal of increasing the value, utilities, use cases, synergies, network effect and influences of ApeCoin.
Scope of Operations
Animoca Ventures team will be responsible for the daily operations of ApeCoin Ventures, including but not limited to the following areas:
- Investment & Acceleration: Besides investments, ApeCoin Ventures will play a critical role in supporting Web3 ventures like the role of an accelerator such as providing funding, research, and operational support to help founders scale their projects from the early stages.
- Research and Due Diligence: ApeCoin Ventures has a deep understanding of blockchain technology, cryptography, security and protocols. It provides research and due diligence support to help founders navigate the complexities of various Web3 business models, programs and technologies.
- Tokenomics & Governance: Tokenomics advisory is one of the core pillars of Animoca Brands. It involves a great amount of industry expertise and trade secrets to excel to design token models that incentivize desired behavior, align with the goals of the project and ensure project sustainability. Governance models will also be examined for business performance uplift, risk mitigation and long-term success.
- Partnerships & Collaborations: ApeCoin Ventures will be able to leverage Animoca Brands network to help ventures connect to and collaborate with other projects, investors, and ecosystem partners to achieve their goals. These partnerships can provide access to new technologies, markets, communities, and expertise, helping them to scale and innovate more quickly.
Exit Strategies
Upon successful exits, 50% of the token proceeds will be sent back to ApeCoin DAO, with the plan (or an option) to convert profits back into ApeCoin. This approach aims to boost ApeCoin’s utility and adoption, leveraging our expertise in venture capital alongside the vibrant energy of the community.
Animoca Brands has had a history of successful web3 investments in the space some of them can be seen at https://www.animocabrands.com/investment-portfolio and https://animoca.ventures. Notable investments include The Sandbox, Axie Infinity (Sky Mavis), Pixels, Heroes of Mavia, xAI, TON, Immutable, Polygon, Berachain, YGGand many others including of course Yuga Labs.
The investment exit strategies are diverse and evolving. Besides traditional exit methods like M&A and IPOs (e.g. Coinbase went public in 2021), there are Web3 specific means like token launches and community-driven liquidity events.
In the event of a “web3 exit” (i.e. token launch) we would liquidate the proceeds/profits and use it to repurchase ApeCoin on market and return it as $APE to the DAO. It is 50% of all token proceeds because 50% is funded by the DAO.
The fund will receive returns in Tokens which it then proposed to swap into ApeCoin and return to the Foundation as per the proposal. It doesn’t receive gross revenues as it’s not your classical operating business.
In other words if the project were to receive 100 tokens worth $1 where it to sell them it would propose to use the $100 dollars to buy $APE and return the $APE.
If the Foundation desires to have us monetize the 100 tokens and then return it in fiat as $100 it could be possible but was not what was proposed.
BENEFIT TO APECOIN ECOSYSTEM
Here is a summary of the proposed investment details:
- Animoca Ventures matches the funding on a 1:1 basis with US$5 million in fiat, together with ApeCoin DAO funding of another US$5 million in the form of $APE.
- ApeCoin DAO will receive 50% of all token proceeds upon successful venture exits in the form of $APE for future ecosystem grants
- Two-year timeline of fund deployment. Any remaining or unused $APE will be returned to the ApeCoin DAO treaury should the fund not be deployed within the stipulated timeline.
- The targeting check sizes are between US$100,000 to $250,000 per startup which would facilitate backing potentially up to 80 ventures at seed/Series A stages – curated to the highest standards
- A low management fee of one percent (1%) will be charged for project vetting, due diligence, ecosystem support, partnership outreach, and other services rendered by Animoca Ventures to carry out the required operations. It is 1% of the total and would be charged out of the total amount i.e. $10m (half of which is contributed by us). This is an annual management fee and as the fund intends to operate for 2 years it would amount to 100k per year and effectively 50k a year for the funds from the DAO. There are no performance fees charged for the $5 million contribution for the DAO, normally funds operate on a 2/20 structure i.e. 2% management fee and 20% share of profits but for the purposes of this proposal we will not be charging this.
- Exposure of APECOIN to a variety of promising startup and companies
- Growth of the APECOIN ecosystem as startups and companies who receive funding may choose to engage or support APECOIN initiatives such as adding utility and/or integrate APECHAIN for example
- The matching investment structure means we guide promising ventures closely through sizable joint ownership influence and incentive alignment. We focus this strategic guidance to:
- Align platform visions to grow $APE utilities and ApeCoin ecosystem benefits.
- Integrate token models driving measurable adoption.
- Forge partnerships that bring mutual value across investor-ventures.
With our investment matching, operating expertise and focus on early stage deals, we aim to increase $APE utility awareness and accelerate expansion of the ApeCoin ecosystem through promising, synergistic projects.
The following benefits are expected as a result of this proposed partnership from the perspective of ApeCoin DAO:
- More ApeCoin utilities will be attained with a wider adoption of ApeCoins within ApeCoin ecosystem and beyond.
- An expanded, more diverse and amplified ApeCoin ecosystem, in which more projects, partners, entities and use cases are expected.
- As a natural consequence of the scaled-up ApeCoin ecosystem, network expansion with strong impact will be further amplified as the investments and partnerships offer access to a broader network of potential users, customers, and collaborators.
- More credibility and trust will be built among potential users, investors, and the broader Web3 community.
- The investments and partnerships often involve resource sharing, whether it’s funding, technology or infrastructure. This can significantly reduce costs and accelerate growth for both ApeCoin DAO and the startups.
- Ventures and partnerships can increase global visibility for ApeCoin ecosystem, leading to an elevated global presence.
- The collaborations and ventures can contribute to innovation, ApeCoin adoption, as well as the uptake of Web3, in various regions and sectors by utilizing the assets and networks of partner companies.
- Web3 Enterprise Service Capabilities: Partnerships can help build Web3 enterprise service capabilities with global commercial applicability, which can be deployed to support technology advancements in various regions.
- ApeCoin Ventures can help build Web3 enterprise service capabilities with global commercial applicability, which can be deployed to support technology advancements in various areas.
- ApeCoin will become the hub for innovation to nurture the Web3 ecosystem and bring in extensive capabilities from partners, fostering a broad portfolio of investments.
- ApeCoin DAO will have the access to expertise in the blockchain and cryptocurrency space to navigate the complex and ever-evolving Web3 ecosystem. This will ultimately bring forth a more mature and healthier ApeCoin ecosystem.
OVERALL COST
Total amount requested from the ApeCoin Ecosystem Fund = $5,000,000 USD.
- Total amount requested from the ApeCoin Ecosystem Fund will be US$5 million dollars paid in $APE at the time of transfer (assuming the date was 5/20/2024 that would be 4,130,466 ApeCoin)
- US$5 million worth of $APE will be matched with US$5 million in fiat by Animoca Ventures, with a report of Animoca’s financial postion (indicating its ability to contribute matching funding) found here.
- We do not anticipate raising any third-party capital.
- The suggestion is to liquidate the $APE received into cash as soon as practical so that Animoca Ventures can match the amount in dollars.
- We could be open to receiving funding in tranches, but it would then mean we would only match our funding amounts in a similar fashion (i.e. if we receive 1M$ worth of APE we would match it with 1M$ of FIAT/USD/USDC at that time).
- No funds gained as a result of ApeCoin Ventures investment strategies would be used for voting, as they would be sold for the purposes of investment.
PROPOSAL
Link to the full proposal: https://forum.apecoin.com/t/aip-438-apecoin-ventures/23550
The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
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AIP-482: Resubmission AIP430 - ApeFacingApes – Amplifying the IP usage of BAYC and generating value for the entire Ape Ecosystem
ABSTRACT
ApeFacingApes delivers value to all Ape holders by better utilizing their IP. It not only gives holders a fresh perspective, but also tools to better monetize it. This will benefit the whole Ape- and Apecoin- Ecosystem.
ApeFacingApe / BAYC
IMPORTANT For easy accessibility and best user experience, we are immensely happy that YUGA LABS committed to implement our frontal Ape versions and the link to our editor into their official BAYC profile page. With this, every holder has a one-stop resource to fully utilize the BAYC IP.`
Source : Official BAYC profile page, YugaLabs
ApeFacingApes already is an established project, approved by many renowned community members. It is operating under the MBA license #118. Now it is time to make it available to all 10k Apes. OG holders will of course be fully refunded.
We roughly estimate 3 new assets per month and in total 108 for 3 years. There will be slots allocated, which we will fill with own creations, creations for MBA projects and creations for Ape communities. MBA projects and communities can apply for a slot through our ticketing system in Discord.
Source: X, community posts
BENEFIT TO APECOIN ECOSYSTEM
NOT JUST A DERIVATIVE: We are bringing value to the original BAYC community. IP usage of BAYC is the critical element that provides long-term value to holders. The higher the brand recognition, the more valuable the brand and associated businesses. With an increased IP usage and higher brand recognition, the whole Ape and Apecoin ecosystem will benefit.
Source: X, @0xClawd, example for increased marketability
BRAND RECOGNITION:
"The extent to which a target audience can identify or recall a brand based on its visual identity. Strong brand recognition is a crucial goal for companies and leads to increased consumer trust and loyalty.”
ApeFacingApe / BAYC
VISUAL IDENTITY: The visual identity of BAYC is more than just the PFP. It is in the core of the brands. ApeFacingApes, is not adding, it is extending.
MEMEABILITY: „With user-generated content the emotional connection and brand personality gets elevated. Memes are a fun and engaging way for brands to connect with their audience, increase brand recognition, and stay relevant in today’s digital landscape.” With ApeFacingApes there will be many new and innovative ways to play the meme game and to stay relevant.
Our editor is the place for individually outfitting all Apes. We have hand-drawn all 168 Ape trait layers which allows us to create unique and high-quality meme assets in our editor. We built in a feature to allow certain items only for specific BAYC ID’s, for example regional communities, like Dubai Apes.
Source: ApeFacingApes.com, Editor
OVERALL COST
Total amount requested from the ApeCoin Ecosystem Fund = 259,000$USD in ApeCoin.
By supporting this AIP you will deliver instant utility to all Ape holders and with it to the whole Ape ecosystem.
You will unlock the power of memes to all Apes and increase overall brand recognition. Multiplicators, such as MBA projects or local Ape communities will be supported with individual assets. The goal is to grow together, always staying relevant.
PROPOSAL
Link to the full proposal: https://forum.apecoin.com/t/aip-482-resubmission-aip430-apefacingapes-amplifying-the-ip-usage-of-bayc-and-generating-value-for-the-entire-ape-ecosystem/24819 The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
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Against
Abstain
AIP-479: Coffee with Captain Powered by $APE on ApeChain
ABSTRACT
Title Sponsorship of a leading web3 daily show and a weekly segment featuring MBAC brands. Ongoing promotion of $APE, ApeChain and MBA / MBAC brands on X and the major podcast platforms.
Six month partnership to include:
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Title Sponsor a) Coffee with Captain Powered by $APE on ApeChain b) Coffee with Captain Powered by ApeChain c) Coffee with Captain Powered by $APE The title will appear in the Live X Spaces for the duration of the show, as well as in the title of the podcast recordings and preferred link(s) will be included in the show notes. This title sponsorship includes any live shows during the sponsorship period as well. For example, live Coffee with Captain at ApeFest will be powered by $APE
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A weekly segment “Made by ApeCoin Mondays” Sponsored interview around 9AM EST on Coffee with Captain. Each week we’ll interview a MBA builder at/around the peak of our Monday show. Preferred brand links will be featured in show notes in the podcast recordings. We’ll also work with Thank Ape to encourage and reward audience engagement with the brands that are being featured.
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A weekly “ApeCoin Ecosystem update with @Lost” A recurring sponsored segment on Wednesday at 9:45am EST on Coffee with Captain. Clip will be captured and Audiograms can be repurposed as shorts ApeCoin Youtube.
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ApeChain will become the home of Coffee with Captain Through a multi-phased approach we will migrate all of our future published content to be hosted on ApeChain. Beginning with our weekly show summary Potentially a fork of Mirror or Paragraph To be clear, this proposal does not take into consideration the development of, or funding of an on-chain publishing platform, rather a commitment to making ApeChain our home for published content and we’d love to work with others in the community who build the platform.
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With a partnership in place Cap & Steve will actively seek news and events from the ApeChain community to discuss organically on CwC throughout the week, in addition to the Made By ApeCoin Monday segment.
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Two professional audiograms per week will be provided to the ApeCoin DAO, ApeComms, and the MBAC brand that was featured. An example of an audiogram clip produced by Macki can be seen quote tweeted here - capturing the attention and engagement of other leaders in the space.
BENEFIT TO APECOIN ECOSYSTEM
This proposal will benefit ApeChain and Made by ApeCoin builders, as well as the Coffee with Captain community, listeners and the small CwC team, including two OG Apes, at a minimum. Hopefully this idea inspires other content creators to work closely with the ApeCoin DAO and make ApeChain their home also.
In addition to live Spaces, podcast recordings and summaries - this title sponsorship will carry over to any events in real life, and will include sponsorship at a minimum of 3 live events over the remainder of 2024, live shows are planned at VeeCon, ApeFest and Art Basel.
In total over a 6 month sponsorship, there will 52 professional audiograms provided featuring $ape and community build brand and businesses. 26 business or brands built by ApeCoin will receive a sponsored interview at no cost to them, as well as 26 ApeCoin DAO Ecosystem updates presented to a diverse crypto and web3 audience. And ApeChain will hopefully become the first ecosystem that the Coffee with Captain community and listener base thinks about when looking for a home to build.
OVERALL COST
Total amount requested from the ApeCoin Ecosystem Fund = $85,000 USD paid in ApeCoin.
Website - $500 Production - $8,500 Show Operations - $8,500 Talent - $67,500 Total: $85,000
PROPOSAL
Link to the full proposal: https://forum.apecoin.com/t/aip-479-coffee-with-captain-powered-by-ape-on-apechain/24548 The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
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Against
Abstain
AIP-470: MBA Powered ApeFest Lisbon x ApeCoin Merch
ABSTRACT
Building on Normie’s AIP-299 idea for an ApeFest/ApeCoin merch activation, I’ve been wanting to get this idea up for a while. I reached out to Normie to find out if they were planning on creating a 2024 ApeFest merch AIP and the answer was no. So, here we are.
Generating increased exposure to ApeCoin DAO via unique, high quality, collaborative merch made by the community…
The idea here is to build on that initial AIP concept. We will be creating merch, along with the help of other MBA businesses, that can be distributed to ApeCoin holders for ApeFest.
This will not be a typical generic hoodie merch kit. It will be custom ApeFest Lisbon X ApeCoin merch!
BENEFIT TO APECOIN ECOSYSTEM
We will have high quality merch that holders can be proud of wearing and posting about on social media before, during, and after ApeFest.
Working with other MBA license holders, we will include some of their products (to be determined based on custom options), to help with awareness and word of mouth.
We’ll require that you have a specific role in the ApeCoin Discord or Discourse forum plus have an ApeFest ticket in order to claim your free merch package (1 per person). We will be asking claimers to submit a screenshot of their Tokenproof ticket/dashboard, tied to their wallet containing the ApeCoin. This will show the ticket and the wallet address.
We will also have some surplus items that we can potentially giveaway at ApeCoin/ApeFest side events and other ApeCoin centric events throughout the year.
OVERALL COST
Total amount requested from the ApeCoin Ecosystem Fund = $96,500.
The plan is budgeting $225 per merch kit for 250 total with about $50 per kit for packaging and logistics ($69,000); we would only receive $69k upon AIP approval. The additional $27,500 to make 100 extra kits would be received only if we sell out of the 250 kits, else the unused funds would remain with the DAO treasury.
Merch Kit Budget Details: Merch Kit - $225 (this includes all MBA products sourced during the Discovery Phase)
Logistics per kit claim - $50 (this includes the overall kit packaging and shipping to claimers)
Total Overall Per - $275
$69,000/$275 = 250 Merch Kits
Specifics will be ironed out on product costs once I have the MBAs selected and their product offerings.
Anything surplus would go to other events as previously stated.
This will cover all products, packaging, and logistics.
Upon approval, the DAO would release the initial $69,000 to cover the 250 kits.
Claim Out Phase 1: If the initial claim for the merch kits is successful and sells out (250 kits), I intend to request a reorder with a pre-order period to meet excess demand for those not able to claim during the first claim phase.
After that, I will open it up to have the other 100 claimable for the other $27,500 to be released to cover the extra 100 merch kits. Else, the remaining $27,500 would remain with the DAO treasury.
PROPOSAL
Link to the full proposal: https://forum.apecoin.com/t/aip-470-mba-powered-apefest-lisbon-x-apecoin-merch/24518 The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.
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Against
Abstain