Animoca Brands Co-Founder Proposes to Create $10 Million Fund with ApeCoin

Yat Siu, co-founder of Animoca Brands, has proposed "ApeCoin Ventures". The proposal suggests that Animoca Ventures, the early-stage venture capital division of Animoca Brands, proposes to establish ApeCoin Ventures by combining Animoca Ventures' historical expertise with the strong community influence, in order to expand the popularity and adoption of ApeCoin. In a 1:1 matching structure, the proposal suggests deploying $5 million worth of APE from ApeCoin DAO and matching it with $5 million fiat funds from Animoca Ventures, creating a $10 million combined fund.