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  • Writer's pictureKyle

COMING UP: MachiBigBrother Teased That His Digital Art Movement's DAM Token Is Coming Soon! Here's What You Need To Know

The Apecoin DAO-funded Digital Art Movement initiative’s highly anticipated ‘DAM’ token is coming soon, according to a recent post by the initiative’s founder, MachiBigBrother.

 

On Thursday, MachiBigBrother took to Twitter in the middle of the night and shared a Telegram message between him and the internal Digital Art Movement team, revealing that the project’s $Ape staking website is almost built and that they will be scheduling the token’s launch soon.

 



 

While we do not know when the Digital Art Movement’s ‘DAM’ token will launch, we do know that it will represent fractionalized ownership of the DAM initiative’s art collection, which currently consists of 148 Bored Apes, 19 Mutant Apes, a Fidenza, and a Twelvefold ordinal.

 




“DAM tokens will be a fair-launch project, with zero team token allocation,” Machi wrote in his DAM Ape Improvement Proposal in September 2023. “Initial token distribution will go to users that timelock ApeCoin for up to 5 years, decentralizing governance to the ApeCoin community. One ApeCoin locked for 5 years creates an initial balance of one time locked APE (tlAPE), with the balance decaying linearly over time toward unlock. This means 100 ApeCoins locked for 5 years is equal to 500 ApeCoins locked for 1 year.”

 

As the Bored Ape Gazette previously reported, the ApeCoin DAO approved MachiBigBrother’s Digital Art Movement Ape Improvement Proposal last year, allocating 11,000,000 $Ape to the project.


“Digital art remains underrepresented in the art world, I want to change this,” MachiBigBrother wrote at the time. “I want digital art to be omnipresent. By creating and curating the Digital Art Movement Collection (aka “The DAM Collection”), we can proliferate appreciation for digital art worldwide thus leading to education and adoption. There’s no better group of people than ApeCoin DAO members to cement our place in digital art history."


The Bored Ape Gazette will continue to follow the Digital Art Movement and let you know when its damn time to stake your $Ape in exchange for DAM. Stay tuned for updates!

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