Odaily Planet Daily News: Animoca Brands' venture capital arm Animoca Ventures has initiated a proposal in ApeCoin DAO, proposing to co-found a joint venture fund ApeCoin Ventures with ApeCoin. The ApeCoin Ventures fund is worth $10 million, of which ApeCoin DAO needs to allocate $5 million worth of APE (which Animoca Ventures will sell for fiat currency after receiving), and Animoca Ventures will invest $5 million. The fund will invest in Web3 projects in the seed and A rounds, and give priority to projects that can integrate ApeCoin into its ecosystem, thereby increasing the value, practicality, synergy, network effect and influence of ApeCoin. The proposal is currently open for voting, with a current support rate of 83.49%, and voting will end on August 1.