ApeCoin Community Accelerator Announced to Launch on Forj

Crypto News – The Ape Accelerator, a community-run accelerator and launchpad backed by the ApeCoin DAO, was introduced on Tuesday by Forj, an NFT makers platform owned by Animoca Brands. Forj was given the assignment of creating the accelerator after the ApeCoin community proposal (AIP-209) was approved.

ApeCoin Community Accelerator Announced to Launch on Forj

The Bored Ape Yacht Club-themed token will be more widely adopted, according to Harry Liu, CEO of Forj, by utilizing the hundreds of active projects already present in the community.

We chose to launch on ApeCoin because it has the most collaborative and socially engaged community across Web3,

Liu

The focus will be on ongoing initiatives rather than those that are still in the planning stages, according to Liu. He stated, “We want to take projects from 1-2,” and added that in order to be eligible, they had to have achieved a certain point.

Forj was a strong candidate because, as Liu explained, it has managed dozens of projects with proven track records and because of its broad reach because of the Animoca Brands umbrella. It is targeted at NFTs in the music, entertainment, gaming, and collectibles industries. He explained that even though money is crucial and the metaverse has declined over the past few years, those who remain in the market are high-quality products that are here to be built using a practical approach.

What You Should Know About Accelerators

The ApeCoin DAO is a strictly grant-based collective, but the accelerator will offer a more complete platform and support new projects through its services. The Forj team predicts that the Ape Accelerator will have an accelerator and a launchpad.

The former adheres to established methodologies for accelerating startups, helping founders through methods like go-to-market strategy and tokenomics planning, among others. On the other hand, ApeCoin holders have the option of supporting ideas that come from the aforementioned accelerator by using the launchpad.

Additionally, it will give initiatives the opportunity to raise money by selling digital assets via the recently developed launchpad to authorized KYC’ed ApeCoin holders. The target capital allocation will range between $250,000 and $1 million, depending on the specifics of each project.