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ApeCoin DAO and Animoca Ventures form $10 million investment fund

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AI Summary

ApeCoin DAO and Animoca Ventures have jointly established a $10 million investment fund, focusing on investing in early Web3 projects. The fund will give priority to projects that can integrate APE tokens into the ecosystem. This move shows that ApeCoin DAO is committed to expanding the application scenarios of APE tokens and providing investors with more investment opportunities.

According to Foresight News, the proposal initiated by Animoca Ventures, the venture capital arm of nimoca Brands, to establish ApeCoin Ventures in the ApeCoin DAO community has been voted through with an approval rate of 84.27%.
ApeCoin DAO will invest APE tokens worth US$500, and Animoca Ventures will provide fiat currency worth US$5 million in a 1:1 ratio to jointly establish an investment fund with a total size of US$10 million.
The fund will focus on investing in early-stage Web3 projects at the seed and Series A stages, giving priority to projects that can integrate APE tokens into their ecosystems.

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