- Yuga Labs has created a community council for Bored Ape Yacht Club supporters to help increase its footing in the Web 3.0 world
- The community will provide feedback on projects on an ongoing process
- The council comprises seven members with an option for more in the future
Bored Ape Yacht Club (BAYC) creator Yuga Labs created a council that will increase its footing in the Web 3.0 world. The company will rely on the council to get feedback on its projects as a way of ensuring that it is heading in the right direction and continuing to offer what its supporters and holders want to see. The council is made up of seven members drawn from diehard BAYC holders and investors, with the potential for more to be added if the process is rewarding.
Council Will Offer a “New Avenue of Perspective”
In a blog post explaining the move, the NFT creator disclosed that it intends to use the council as a “new avenue of perspective”, adding that it will act as a conduit between itself and the entire BAYC community, acting as an easy way to communicate with the entire community.
Yuga Labs added that although the community will number seven to begin with, it may increase this number as it sees fit. Yuga Labs added that its initial members were chosen for their “proven track record of proactively and positively contributing to the club since the start.”
Yuga Labs May Create Another Council for CryptoPunks and Meebits Holders
The council’s major task will be to promote Web 3.0 projects by holding meetups and engaging in charity work. The council will also engage with those holding Mutant Ape Yacht Club (MAYC) NFTs to canvas their opinions. Despite being under Yuga Labs, the council will be self-governing, thus avoiding any claims of conflict.
The BAYC community council can be compared to the ApeCoin Foundation which works with BAYC/MAYC community to interact with proposals from ApeCoin holders. The BAYC creator is also likely to establish a similar group for other NFT projects under its belt, such as Meebits and CryptoPunks.
The BAYC community generally welcomed the move, with some noting that a community council “is the right move.”