Q&A: This AIP Aims To Help Ape Centric Projects Becomes Thriving Businesses. Find Out More
The ApeCoin DAO is voting on an Ape Improvement Proposal this week that aims to help promising projects in the $Ape ecosystem grow into sustainable businesses.
AIP-209, titled "Ape Accelerator Powered By ApeCoin," is an ecosystem allocation proposal written by Web3 tech company and Animoca Brands subsidiary, Forj.
"The Ape Accelerator (Ape Launchpad) is designed to help strengthen the ApeCoin and BAYC ecosystem by incubating and facilitating projects that contribute to and utilize the ApeCoin and BAYC IP ecosystem growth," the company wrote. "Projects looking to launch through the Ape Accelerator will require $APE tokens to submit a proposal, and holders of $APE and BAYC Ecosystem NFTs will be able to access the launchpad to invest in these projects."
The Forj company believes that by creating a launchpad for the ApeCoin ecosystem, they can not only help builders create sustainable businesses but also give ApeCoin DAO contributors the chance to get in early on promising Ape-themed projects.
"The Ape Launchpad aims to maximize the Ape community's benefit, facilitate the use of ApeCoin, and together, as a community, contribute, fund, and empower the future of decentralization."
In total, Forj is asking the ApeCoin DAO to allocate $480,000 USD or 126,616 $Ape to fund the creation and first six months of operational costs for its Ape Accelerator.
Take a look at the cost breakdown below:
To find out more about AIP-209 and Forj’s Ape Accelerator proposal, the Gazette reached out to Forj’s CEO, Harry Liu, for an interview. Check it out below:
Tell me about you and Forj. How did you get into Web3 and how did you start contributing to the ApeCoin DAO?
“Forj is a subsidiary of Animoca Brands and we have been focusing on project incubations over the last year and a half. As more me, I entered Web3 probably five years ago. I first got into tokens and then I moved into advisory. Then I started Forj three years ago. The first things we did at Forj that gained popularity was our NFT launchpads. Over that time, we have successfully launched ten projects and many of them have went on to be successful. Also, over the last nine months we have been doing a lot of research on the Yuga Labs ecosystem and created the IP Map. Over that time, we’ve went from covering 50 projects on the map to covering 287 projects. We are amazed to see it grow and the purpose of this AIP is accelerate the growth of BAYC IP and also ApeCoin as well.”
How did you come up with the idea of an Ape Accelerator?
“In the last nine months of doing the IP map, we had the chance to chat with builders one on one. As we chatted with them, we realized many of them had the same challenges. While the IP map has grown quickly, many projects are having trouble gaining traction and revenue. We have seen the success of incubators and we figured out there are areas that we could help builders in and help them grow.”
And why does the DAO need an Ape Accelerator?
“Many community projects don’t get direct support from Yuga Labs. Most get shoutouts on Twitter and that’s pretty much it. As you can see some of the projects that have been on the IP map have shut down recently. So you can see an incubator launchpad is needed to educate projects on capital venture and storytelling. We at Forj have seen success at helping projects with those things before.”
Why are you and Forj the right team to build this Ape Accelerator?
“We started our BAYC journey in May 2021, I’ve been here since the very beginning. So, I think we are the right team to build and run this Ape Accelerator because 1. Our track record of contribution in the $Ape ecosystem and the BAYC community for a long time and we know many of the player, and our IP Map is being used by Yuga Labs to create the second-year anniversary video.2. we have had a lot of success in the past helping launch projects, such as Pixels online. Also, being able to incubate projects within Animcoa gives us access to expertise to help projects in the accelerator launch. 3. We have a structure that is already established. We have launchpads in place. We just need some funding from the DAO to help cover some of the costs.”
Assuming your AIP passes, what kind of projects would the Ape Accelerator be best suited to assist with?
“The quality of projects in the accelerator is very important. If it’s not a quality project, it will be a lose lose. So, ensuring that the project is high quality and has the chance for sustainability is crucial. We will have five main criteria that we will be looking for when evaluating projects. Number one is team. They should be advisable, experienced and have a track record of contribution. Number two is product market base. They should already have a product and have some users using it. Three is early validation. This validation would be from the community. Number four is explanation. There showed be a clear reason for the project especially right now during a bear market. Number five is adding to ApeCoin. There should be strong synergy between the project and ApeCoin/ BAYC IP.”
What does success look like a year from now for the Ape Accelerator?
“we’d love to have a few quality flagship projects that we can be proud of that are doing exceptionally well. Next, we’d love to see more project collaboration happening across the Ape ecosystem. Instead of working in one silo we can coordinate metaverse builders to work with storytelling projects and work together. And three would be more utility for ApeCoin. I want Ape to be used for more than just staking and governance.”
The window to vote on AIP-209 closes tonight at 9 P.M. EST.