ApeCoin DAO and Animoca Ventures, the venture capital arm of Animoca Brands, have proposed a collaboration to establish a joint fund called ApeCoin Ventures. This $10 million fund will focus on investing in seed and Series A rounds of Web3 projects, with a priority on those that can integrate ApeCoin into their ecosystems.

The proposed fund will be equally split, with ApeCoin DAO allocating $5 million worth of APE tokens and Animoca Ventures contributing $5 million. Upon receipt of the APE tokens, Animoca Ventures plans to convert them into fiat currency. This collaboration aims to enhance the value, utility, synergy, network effects, and overall impact of ApeCoin.

The joint fund will prioritize investments in Web3 projects that can leverage ApeCoin's ecosystem, driving growth and adoption. This strategic partnership will enable ApeCoin DAO to tap into Animoca Ventures' expertise and network, while Animoca Ventures will benefit from ApeCoin's strong brand and community.

The proposal is currently under voting, with a support rate of 83.49% and a voting period set to conclude on August 1. If passed, this collaboration will mark a significant step in ApeCoin's growth and expansion into the Web3 space.

In conclusion, the proposed joint fund between ApeCoin DAO and Animoca Ventures demonstrates a commitment to driving innovation and growth in the Web3 ecosystem. By prioritizing investments in projects that integrate ApeCoin, this fund will enhance the token's value and utility, while fostering a stronger network effect.