ApeCoin Community Backs $12 Million Allocation for New NFT Collection
Date: 2023-09-17 Author: Dima Zakharov Categories: BLOCKCHAIN, CRYPTO PAYMENTS
The AIP-304 Vote - Snapshot Data
The voting process began on September 15 and will continue until September 21. At the time of writing, 53.87% of APE token holders have supported the proposal, but the outcome remains subject to change. According to FX Street, on the first day of voting, 66.17% were against it.
Digital Art Movement Collection: A Creative Vision
The proposal aims to create a "Digital Art Movement Collection" that will curate an NFT collection consisting of assets from Yuga Labs (BAYC, MAYC, BAKC, and CryptoPunks), along with other renowned NFTs, to accelerate the development of digital art worldwide.
Meet the Author of AIP-304
The author of AIP-304 is Jeffrey Huang, a Taiwanese entrepreneur known by the pseudonym "Machi Big Brother." He believes that this initiative will benefit the ecosystem "by raising awareness of ApeCoin's cultural impact in the realm of digital art."
The Digital Art Movement Tokens
According to the proposal, Digital Art Movement (DAM) tokens will serve as rewards for users who lock up their APE tokens for five years to govern the protocol.
APE Token Valuation
At the time of writing, APE is trading at $1.1. Launched in March 2022, the token has seen a decline of approximately 95% from its all-time high in April of the same year.
ApeCoin's Hourly Chart on Binance
In July, a rare NFT from BAYC #3953 was sold for 200 ETH (~$372,000 at the time of the transaction), considerably lower than its peak values.
In August, a rare NFT from BAYC #8585 was acquired for a record-low of 153 ETH (about $254,000). The asset lost 80% of its value in 11 months.
