AIP-297: An NFT Community Vault Operating as an ApeCoin Sister DAO with a Goal to Advance the Mission and Influence of ApeCoin

ABSTRACT

The objective of this proposal is to position ApeCoin as the web3 culture token to power the broader web3 ecosystem. This proposal aims to secure 750,000 APE to acquire NFTs which represent various cultures and also with a certain level of influence in web3. The acquired NFTs will be managed via a community-governed vault, voted by the sister DAO members, and open for $APE holders to utilize the IP with potential grants in $APE in the near future. The initial deployment of $APE for NFT acquisition will be operated and decided by the Committee.

BENEFIT TO THE APECOIN ECOSYSTEM

Every step of our proposed approach will prioritize the usage and adoption of $APE

Our 5-step approach to execute this proposal are as follows:

1. Purchase the selected NFTs using the grant in $APE
2. ApeCoin holders owning the governance rights of the usage or moblization of the acquired NFTs (voting through a sister DAO)
3. (Sister DAO Process) ApeCoin DAO will lease these NFT IPs to $APE holders / proposers
4. (ApeCoin DAO or Sister DAO Process) Use $APE to fund the development of these IP utilizations
5. (ApeCoin DAO or Sister DAO Process) Adopt $APE in these products

$APE will be the token that powers the operations and execution of every stage, all the way from initial NFT acquisition to the development of products leveraging these NFT IPs. This will create vital benefits for the ApeCoin ecosystem because it will lead to wider adoption and usage of $APE beyond its current applications.

Sister DAO to be governed by $APE holders with the following decision making:

• Whether specific NFT IPs should be rented to a specific proposer based on the suggested products or projects
• $APE funding for development of the suggested products or projects using the vault's NFT IPs
• Which NFT collections to buy / sell from in the vault’s future NFT acquisitions after the initial acquisition based on this proposal

This sister DAO would operate outside of the main ApeCoin DAO, but still consist of the same membership base with the only requirement being to own 1 $APE.

Supercharge IP utilization within and beyond the APE ecosystem

• This community-run vault will acquire, hold, and empower utilizing a number of NFTs from notable NFT collections across the web3 landscape. Benefits:
  • The first application of the acquired NFT IP to create products / services will set the first example of receiving $APE support to power the broader web3 ecosystem and other projects
  • The NFTs acquired via the vault can be used by the ApeCoin community without having to deploy capital and own the NFTs themselves, however able to utilize the IP to the holders’ preference of projects
  • Open cross-community dialogue and supercharge the educational process of ApeCoin DAO involvement

One of the many benefits of this vault’s sister DAO is its low-barrier entry of owning at least 1 APE to have governance and usage rights in this vault.

OVERALL COST

We propose allocating an initial budget of 750,000 ApeCoin from the DAO treasury for acquiring NFTs. The budget will be utilized as such:

1. 500,000 $APE: To purchase NFTs from various platforms and projects that align with the vision and values of ApeCoin, encompassing art, music, virtual worlds, gaming, and other web3 domains
2. 250,000 $APE: As a buffer for additional NFT purchases that may be needed and development of any related services to assist in initial vault maintenance

PROPOSAL

Link to the full proposal: https://forum.apecoin.com/t/aip-297-an-nft-community-vault-operating-as-an-apecoin-sister-dao-with-a-goal-to-advance-the-mission-and-influence-of-apecoin/16167

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.