AIP-297: NFT Vault…
AIP-297: An NFT Community Vault Operating as an ApeCoin Sister DAO with a Goal to Advance the Mission and Influence of ApeCoin
HIGLIGHTS:
Author: yatsiu
Summary:
An idea for an Apecoin operated NFT Community Vault operating as an sub-DAO with a goal to advance the mission and influence of ApeCoin.
This proposal aims to secure an initial budget of 750,000 APE (this can be flexible depending on the initial NFT purchase idea) from the DAO treasury to purchase various non-fungible tokens (NFTs) from culturally significant and influential collections in the web3 ecosystem. The acquired NFTs will be held in a community-run vault with clear reporting and transparency, provided by the Committee with key decisions being made by Apecoin holders through a vote (eg. via snapshot). The community-run vault will serve as a catalyst for introducing ApeCoin as the representative token of web3 culture within other web3 NFT culture ecosystems, and seeks to foster collaboration, innovation, and cross-pollination between ApeCoin and other web3 & NFT communities.
It will operate as a sub-DAO of ApeCoin meaning that key decisions run by this vault will be operated by community votes using APE. NFT purchases (and disposals) for instance could then be made by community votes.
This AIP is co-authored by Yat Siu, Chairman of Animoca Brands and former ApeCoin DAO Special Council Member, and Tyler Durden, Mocaverse Lead and Head of Projects at Animoca Brands, with obvious intention to grow ApeCoin influence in web3 and grow web3 as a whole.
Timeline | Relevant timing details, including but not limited to start date, milestones, and completion dates.
Step 1 (7 days from proposal passed): Set up multi-signature wallet
Step 2 (subject to operations): Receive grant in $APE from ApeCoin DAO
Step 3 (7 days from Step 1): Set up Snapshot space for the sister DAO for proposals and voting
Step 4 (full deployment of grant for purchase in 90 days from Step 2): (Ongoing) Deploy $APE grant to acquire the proposed NFTs ApeCoin DAO will licenses these NFT IPs to APE holders / proposers (target to complete purchase within 90 days from proposal passed)
Step 5: (Ongoing) Report on vault and multi-signature wallet weeklyUse APE to fund the development of these IP utilizations
Step 6 (30 days from Step 4): Submit first governance proposal via the sister DAO for voting to facilitate NFT rental and adoption for product creationAdopt APE in these products
Step 7 (60 days from Step 4): Launch web page to display the acquired NFTs in the vault
Overall Cost | The total cost to implement the proposal.
We propose allocating an initial budget of 750,000 ApeCoin from the DAO treasury for acquiring NFTs. The budget will be utilized as such:
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
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
