October 26th, 2022 — We may be in a bear market, but you could never tell by looking at the persistent building and growth seen by a number of innovative projects in the crypto and NFT spaces.
One of those projects, Bored Ape Yacht Club of Yuga Labs, is on track to becoming a household brand, with over 130 projects launched by different holders and investors of Bored Ape NFTs.
After speaking with a number of Bored Ape projects, including Bored Jobs, Ape Beverages and The Other Guild, amongst others, it became clear that there were six major areas of support needed, including:
- Strategic partnerships
- Storytelling
- Tokenomic design
- Being resourceful
- Capital support
- Distribution
Every challenge is an opportunity and as a holder of a number of Bored Ape NFTs, as well as Otherside land and $APE coin, the team at Forj would like to help accelerate the YugaLabs’ IP ecosystem using our experience incubating projects.
Forj’s Ape Improvement Proposal (AIP)
We are very excited to announce that we have submitted an AIP in the ApeCoin DAO, titled “Ape Accelerator by ApeCoin” which you can read at length here!
TLDR; With the backing of the ApeCoin community, Forj would like to build and become the managing project behind the Ape Launchpad! The Ape Launchpad aims to maximize the Ape community’s benefit, facilitate the use of $APE, and together as a community, fund and empower the future of decentralization.
We see 6 strategic incubation verticals to maximize cohort synergy for ecosystem growth:
- Content creation using original lore.
- Storytelling through cross world development
- Finding and retaining builders
- Cutting cost of tools
- Platforms: Experience discovery
- Commerce activities to drive revenue
To grow the Ape ecosystem, a core strategy is to add more use cases for the ApeCoin. Therefore, having this Ape Accelerator can:
- Get the community to stake $APE in order to participate in NFT and token sales, reward committed stakers with ongoing benefits
- Ape community get valuable, high-experience NFTs every month
- Get community use $APE to access any primary sales on Ape Launchpad
- Encourage NFT collections/projects to purchase $APE in order to launch on Ape launchpad
- Increase $APE utility by allowing community use $APE to vote, and get rewarded for participation
- A percent of collected $APE will be burned or donated to the charity or sent to a separate DAO-controlled wallet to be used at a later date.
The Ape Community can engage in the APE Launchpad in three ways:
- Initiator
- Projects that aim to launch on the Ape Launchpad need to spend $APE coin to submit a proposal. Among the submission fee, a certain percent of collected $APE will be burned, donated to charity or sent to a separate DAO-controlled wallet to be used at a later date.
- Encourages NFT collections/projects to purchase $APE coin.
- $APE coin is burned to lower circulating supply
- Project should accept a certain percent of their funding raised in $APE coin.
2. Voter
- After projects submit proposals, the Ape community can use $APE coin to vote whether to launch that project on Ape Launchpad.
- Autonomous Project Selection from the community.
- If a proposal is approved, voters will share a commission from the sales by snapshot.
- This engages voters to participate and earn.
3. Participants
- Approved projects will launch on the Ape Launchpad and accept ApeCoin as payment, as well as other tokens
- Ape community get access to valuable, high-experience NFTs every month.
- Adds utility to $APE coin.
- Ape Launchpad will embed the staking pool from AIP 21/22, requiring users to stake in order to gain access to the launchpad.
- Get the community to stake $APE and reward committed stakers with ongoing benefits.
So why Forj?
Forj has been behind the scenes helping and incubating a number of projects!
In addition, the Forj team has:
- A Proven Track Record
- We’ve been dedicated contributors to the Bored Ape ecosystem since May of 2021.
- We launched the first Bored Ape metaverse experience via our game, Monkeying Around in The Sandbox.
2. We Are Already Accelerating
- We are advising Animoca backed projects to adopt BAYC IP.
- Additionally, we provide projects with guidance on strategic partnerships, launch strategies, NFT utility and sustainable roadmaps, amongst other points.
3. Constructed Infrastructure
- Established launchpad with a core audience in the Animoca ecosystem.
- NFT-Tiered system to enable $APE, Bored Ape Yacht Club, Bored Ape Kennel Club, Mutant Ape Yacht Club and Otherdeed asset holders to participate in a fair manner.
4. Vetted Candidates
- After speaking with hundreds of projects in the Web2 and Web3 spaces, we know how to vet projects, their teams and founders to evaluate their models and identify the best candidates.
- Our analysts are also ready to assist founders through the ups and downs of launching and managing a project.
5. Metaverse Ready
- We are already creating metaverse experiences at scale through our project, Metaprints and have over 20 licensed brands that are interested in launching in The Otherside.
6. Wide Distribution
- We have a built-in distribution network, including large VCs to projects at their inception.
- Our network allows us to pair backers and investors with relevant projects to enable long term partnerships and sustainability.
This is an incredibly exciting development and opportunity for Forj and our community! A large part of the future of crypto and NFTs will be building brand IP and value across different mediums, services and products. With our extensive network, we can help bring some of the largest projects you haven’t heard of yet come to light!
We encourage you to go read the proposal in full here and if you have the ability to vote and support us, we please ask that you do. Reception within the Bored Ape Community has been extremely positive!
We will provide you all with more information and updates as soon as we have them and continue to follow our social media channels for the latest and greatest from Forj!
About Forj
A subsidiary of Animoca Brands, Forj delivers leading Web3 products and technologies that create unique fan experiences for creators.
A truly end-to-end solution, Forj is the next frontier of fan engagement through its use of NFTs, metaverse protocols, and blockchain tech to bring fans closer to their favorite creator brands in Music, Entertainment, Gaming and beyond. With major partnerships including influencer Logan Paul, Grammy-nominated musician Lewis Capaldi, and leading creator platform Spring, Forj has an enviable track-record of success in the sector.
Forj-owned brands include metaverse infrastructure project Metaprints and leading GameFi project PolkaPets.
