- ApeCoin DAO has revealed plans to unveil a launchpad for projects building around Bored Apes
- Known as the Ape Accelerator, the program will be in the hands of the ApeCoin community who will vote on proposed projects using their APE tokens
- Projects incubated through the program will be mandated to use APE tokens to increase adoption
ApeCoin DAO has revealed plans to unveil a launchpad for projects building around Bored Ape NFTs and the APE token. Known as Ape Accelerator, the program will be in the hands of the ApeCoin community who’ll decide which projects are incubated by voting using their APE tokens. Projects in the program will be mandated to embrace the APE token after launch to boost the token’s adoption and by extension Bored Ape NFTs.
Most Web 3.0 Projects Lack Connection to Web 2.0
According to a summary of the program presented during the DAO’s voting period that ended May 18, accepted projects will receive funding from entities holding APE coins or NFTs in the Bored Ape Yacht Club (BAYC) collection.
According to some active BAYC holders involved in proposing the new program, most Web 3.0 projects lack a connection with the Web 2.0 world and “lack […] ongoing utility” hence unable to maintain interactions.
The launchpad will be powered by the Ethereum blockchain and will employ a layered participation structure. However, there have been attempts to move ApeCoin off Ethereum with Yuga Labs even disclosing plans to build its own blockchain.
Yuga Labs Marketplace and Community Council
The launchpad proposal, which passed with 59% of the votes, comes six months after the ApeCoin community launched a marketplace dedicated to Yuga Labs products. Yuga Labs also unveiled a community council to help boost its presence in the Web 3.0 space.
With the ApeCoin community continuously looking for ways to push the adoption of Ape-based creations, Yuga Labs products, mostly hinged on apes, are likely to dominate the Web 3.0 space.