The Digital Art Movement Bought Four Aesthetic Apes For $324K Earlier This Week. Find Out More:
The Digital Art Movement has found its captain after adding a nautical themed primate and three aesthetic first mate Apes to its growing motley crew of monkey NFTs.
On Monday, MachiBigBrother’s ApeCoin DAO funded Digital Art Movement initiative purchased four more Bored Apes for 107.4 Eth or $324,721 USD!
Following this week's pick-ups, the DAM initiative now holds 144 Bored Apes, 16 Mutants, a Fidanza, and a Twelvefold inscription.
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."
As DAM continues to purchase Yuga Labs NFTs and works to get them showcased in museums and galleries around the world, every $Ape holder should start thinking about whether they will lock their $Ape to receive 'DAM' tokens that represent fractionalized ownership and control of the DAM initiative’s NFT collection.
“DAM tokens will be a fair-launch project, with zero team token allocation,” Machi wrote in his DAM Ape Improvement Proposal. “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.”
The Bored Ape Gazette will continue to follow DAM and will keep you posted on its token launch. Stay tuned for updates!
