ApeCoin DAO to fund Bored Ape gazette news site

The publication will act as a trusted news source for all Yuga Labs products.
ApeCoin DAO to fund Bored Ape gazette news site

ApeCoin DAO has approved a proposal to fund the Bored Ape Gazette – a 24-hour news site focused on Yuga Labs – the creator of Bored Ape Yacht Club (BAYC). 

The Bored Ape Gazette, which has been live since June 2021, will receive $150,000 for the first year. Over the year, the funds would be primarily used for updating and maintaining the site. The publication covers news about all of Yuga Labs’ initiatives, namely BAYC, Mutant Apes (MAYC), Kennel Club (BAKC), CryptoPunks, and the Otherside Metaverse. 

About 1.1 million or 87.88% ApeCoin tokens voted in favor of the proposal, known as AIP-70, and a minority of 149,000 voted against it. 

Kyle Swenson, the editor and sole writer of the publication, will receive a salary of $7,000 to create content and the bi-weekly Bored Ape Gazette newsletter. 

“The goal of the Bored Ape Gazette is to keep $APE holders, BAYC members and the general public informed on all things Ape,”

reads the proposal.

“I am committed to building a trusted source of information for this community and I would like to expand the operations into continuous research, analysis and reporting across the ecosystem.”  

Apart from news, the site will also feature tickers for all of Yuga Labs’ NFT collections, an ApeCoin price feed, an ApeCoin DAO tracker for upcoming events – including ballots, and a classifieds space for its members to buy/sell services. 

Even though the site has been active for over a year, it has witnessed only 52,400 total visits, according to SimilarWeb data. In order to woo more visitors, the DAO plans to ramp up from 1-2 daily postings to 3-5 a day. 

APE reacted positively to the news, surging 11% to $6.4, but sits way below its all-time high of $26. 

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James Satoshi
James Satoshi
James is a leader in Web3, NFTs, & DeFi with over 4 years of experience in the industry. You'll spot him covering all topics through-out Coinmash in our guides and analysis sections.