Animoca Ventures Proposes Establishment Of Apecoin Ventures With $10 Million Investment Fund

According to BlockBeats, on May 2nd, Animoca Ventures, the early-stage venture capital arm of Animoca Brands, proposed the establishment of ApeCoin Ventures on the ApeCoin DAO community forum. The proposal suggests that ApeCoin DAO will contribute $5 million in APE tokens, matched 1:1 by Animoca Ventures with $5 million in fiat currency, to form a $10 million investment fund. This fund will primarily invest in early-stage Web3 projects in the seed and Series A stages, with a preference for projects that can integrate APE tokens into their ecosystems. Upon successful exit from the investment, 50% of the token profits will be returned to ApeCoin DAO, with the option to convert the profits back into APE. ApeCoin Ventures will charge a 1% management fee for project auditing, due diligence, ecosystem support, and promotional cooperation. Animoca Ventures stated that with its expertise in venture capital and the vitality and influence of the community, ApeCoin Ventures will strive to increase the utility and adoption rate of APE tokens, introduce high-quality projects with synergistic effects to the ApeCoin ecosystem, and promote long-term value growth of the ecosystem. Animoca Brands has previously successfully invested in numerous star projects, including Yuga Labs, The Sandbox, and Axie Infinity. The proposal is expected to support up to 80 seed/Series A stage Web3 projects, with individual investments ranging between $100,000 and $250,000. If the funds are not fully deployed within two years, the remaining APE tokens will be returned.