ApeCoin DAO Launches 24-Hours Bored Apes News Website, Here is Why

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Yesterday, the Bored Ape Yacht Club (BAYC) community approved a proposal to use its native token APE to fund a 24 hours news site. The new portal, The Bored Ape Gazette, will cover news about the creators of the popular non-fungible tokens (NFT) collection Yuga Labs and the ApeCoin DAO.

BAYC News Site Launched

ApeCoin DAO, BAYC’s community, approved the proposal dubbed AIP-70, which would see a portion of the ecosystem funds used to enhance and maintain the site. The total cost of undertaking this endeavor over the first year is estimated to be $150,000.

Accordingly, the ApeCoin Foundation will now work on implementing the proposal in line with decentralized autonomous organization (DAO) governance protocols. A DAO is a Web3 organization run by the community using a native token. IN ApeDao’s case, members vote based on the number of APE tokens they possess.