Forj, a Web 3 technology outfit and subsidiary of Animoca Brands Corporation Ltd, has received approval from ApeCoin DAO to launch Ape Accelerator, an incubation platform for the Bored Ape Yacht Club (BAYC) community.
Incubator for new projects
The initiative aims to strengthen the BAYC and ApeCoin ecosystems by incubating and launching new projects.
The new platform, powered by ApeCoin tokens (APE), will focus on incubating and launching projects that enhance the Bored Ape Yacht Club (BAYC) community and ApeCoin ecosystem.
Ape Accelerator will actively involve the ApeCoin community as initiators, voters, and participants. Initiators can submit proposals for projects to be incubated, while voters will use APE tokens to vote on the launch of proposed projects. Approved projects will receive support from participants, who can purchase NFTs and other tokens.
Tiered structure
The launchpad within Ape Accelerator will initially operate on the Ethereum network and offer a tiered structure based on users' APE stakes and qualifying NFT holdings.
Users will benefit from priority sales, higher purchase limits, and better allocations of rare NFTs, depending on their tier. The requirements for each tier will be determined through a voting process facilitated by ApeCoin DAO.
Ape Accelerator is set to launch later this year.
Forj CEO Harry Liu expressed enthusiasm for the initiative: "We are thrilled to have the support of the ApeCoin DAO community to bring Ape Accelerator to life. Our goal is to create new opportunities for builders and creators within the Bored Ape Yacht Club ecosystem."
Animoca co-founder and executive chairman Yat Siu added: "Ape Accelerator is an innovative approach to leverage the democratic potential of the BAYC and ApeCoin ecosystem."
About Forj
Forj, which has been a BAYC holder since May 2022, has consistently worked to empower BAYC intellectual property and foster community growth. Its recent partnership with The Sandbox resulted in the creation of Monkeying Around, a Bored Ape-themed metaverse experience that attracted 46,000 unique players.