APECoin DAO to Support Meebits Utility by Providing Microgrants

APECoin DAO to Support Meebits Utility by Providing Microgrants

APECoin DAO, a decentralized autonomous organization (DAO) for all APE token holders to participate in governance decisions, will provide microgrants to the Meebits non-fungible token (NFT) community.

The DAO will allocate a total of 13,000 APECoin tokens in the form of microgrants, worth around $40,000, to further develop the Meebits NFT utility and add to the use of APECoin.

Generally, APECoin DAO or Yuga Labs will identify the utility instead these developments will come from the community. What will the community develop? 

Proposals can be from anyone and not just the Meebits community. This unquestionably allows for ideas from outside the Yuga Labs and APECoin DAO to enter their ecosystem.

The microgrants will be provided through Prop.house and will allow for a project to be voted on by the Meebits community. Prop.house is ran by the NOUNS DAO and is similar to a kickstarter campaign. 

However, the funds are already available and the community gets to vote on which projects will win. Community-driven development is a hallmark of web3 and decentralization. Prop.house has already completed 79 funding rounds.

Meebit holders Can Get Physical Items

Yuga Labs, the organization behind famous NFTs such as BAYC, MAYC, and CryptoPunks, has recently added new updates to its Meebits Collection.

According to a tweet shared by Yuga Labs, the project will roll out MB1 – A concept where Meebit holders can get physical access to their NFTs.

In lieu of this announcement, the Meebits NFT collection saw strong growth in the charts. According to NFTGoun NFT analysis site, the overall volume of the Meebits collection has increased by 178% in the last 24 hours.

However, the Meebits collection is not the only one to have enjoyed a positive increase. Other collections, like Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club, have also seen improvements.

The BAYC collection saw a 200% appreciation in volume over the past 24 hours. Despite this sudden spike in volume, the overall floor price has fallen 17.40% over the past 30 days. However, there have been many whale sales, indicating that whale activity around this NFT collection has increased.

The MAYC collection has also seen some growth in terms of volume. However, it was not as big as BAYC and Meebits as it only increased by 3.24% in the last 24 hours. Its overall floor price also fell by 17%.

Other negative developments for MAYC include a drop in the number of holders and traders for its NFT collection. The number of buyers has depreciated by 18.44% over the past month and the number of holders has decreased by 0.24% over the same period.

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