Animoca proposes to launch new $10 million fund ApeCoin Ventures in partnership with ApeCoin

Odaily News Animoca Ventures, the venture capital arm of Animoca Brands, initiated a proposal in ApeCoin DAO to co-found a joint venture fund ApeCoin Ventures with ApeCoin. The size of the ApeCoin Ventures fund is US$10 million, of which ApeCoin DAO needs to allocate US$5 million worth of APE (which Animoca Ventures will sell for fiat currency after receiving it), and Animoca Ventures will invest US$5 million. The fund will invest in Web3 projects in the seed and A rounds, and give priority to projects that can integrate ApeCoin into its ecosystem, thereby increasing the value, practicality, synergy, network effect and influence of ApeCoin. The proposal is currently open for voting, with a current support rate of 83.49%, and voting will end on August 1.