Bored Ape Yacht Club to Start News Outlet
Even as the NFT market dwindles, the Bored Ape Yacht Club continues to make waves within the space, this time through the announcement of a news outlet focused on everything Ape.
The ApeCoin DAO is a decentralized organization that utilizes the cryptocurrency ApeCoin as its governance token and who have now voted in favor of funding The Bored Ape Gazette news site.
The vote named AIP-70 passed with strenuous support from the community, with 1.1 million ApeCoins voting to launch the site, and 149,000 ApeCoins voting to stop the proposed use of $150,000 to fund its site.
The Bored Ape Gazette will cover all things Bored Ape Yacht Club (BAYC), as well as Kennel Club (BAKC), Mutant Apes (MAYC), and the upcoming Yuga Labs developed Metaverse game Otherside.
The allocated funds will be used to pay the site's sole writer Kyle Swenson, $7,000 a month to write more official content for the NFT community, with its planned focus being on ApeCoin DAO news, and a new bi-weekly Bored Ape Gazette newsletter.
An NFT is a deed of ownership over an item. Often represented in digital forms like paintings, profile pictures, video game items, sports memorabilia, movie, and comic collectibles.
The Bored Ape Yacht Club is arguably the most famous and successful NFT project in the space, with the original 10,000 profile pictures generating over $2.2 billion worth of trading volume to date, per CryptoSlam.
AIP-70 also detailed plans to add price trackers for ApeCoin as well as trackers for activity on the BAYC, MAYC, BAKC, and Otherdeed Ethereum NFT collections. The reaming funds are being used to pay freelance writers $100 a story, with the intention to hire more writers dedicated to the Bored Ape community.
“This is a community paper that should be written by members of the $Ape community!” the proposal reads.
This proposal should elevate traffic coming to The Bored Ape Gazette as the site has only seen a slim 52,400 total visits since its launch over a year ago in June 2021.
Some are arguing that an outlet written by BAYC holders and funded by ApeCoin could easily slant towards biased reporting, especially when ones consider that Editor in Cheif Swenson is a longtime BAYC holder himself.
“Objective reporting is important to me,” Swenson told Decrypt via Twitter DM. “The Gazette will always be a voice for the community and I work hard to be balanced when covering any story.”
“The Gazette doesn’t promote, it reports the news that Apes need to know,” he added.
Swenson, who lives in Florida has a background with the Orlando Business Journal, as he was a two-time Dow Jones News Fund intern, and has experience in the editor-in-chief position when he ran the independent Knight News covering the University of Central Florida.
Swenson says his goal with the site is to filter through the “noise” that exists on social media.
“My goal is never to tell people what to think," Swenson said. "My goal has been and always will be to bring the community the important information that they need to make their own decisions.”
The Bored Apes continues to show dedication towards its community and NFTs as a whole, even during these uncertain times. If you are a holder you can assure of your community's continued success.