Animoca Ventures has launched a proposal to partner with ApeCoin to launch a new fund, ApeCoin Ventures.

According to Snapshot information, Animoca Ventures, the venture capital arm of Animoca Brands, initiated a proposal on ApeCoin DAO to co-establish a joint venture fund with ApeCoin, ApeCoin Ventures, to invest in seed round and A round of Web3 projects, and give priority to those projects that can integrate ApeCoin into their ecosystem, thereby enhancing the value, practicality, synergy effect, network effects and impact of ApeCoin.
The ApeCoin Ventures fund size is $10 million, of which ApeCoin DAO needs to allocate $5 million worth of APE (Animoca Ventures intends to sell as fiat currency), and Animoca Ventures will contribute $5 million. The proposal is currently open for voting, with a current support rate of 83.49%. Voting will close on August 1.