The AIP-304 proposal initiated by Maji’s eldest brother Huang Licheng has been passed in the ApeCoin community vote, with a total of 16 million $APE supporting the proposal. According to the proposal, the APE Foundation will allocate 11 million ApeCoin to the DAM (Digital Art Movement) organization. DAM will use at least 70% of ApeCoin to purchase NFTs owned by YugaLabs, and 30% of NFTs from other well-known projects.

These purchased NFT assets will be used for exhibitions and donated to art institutions to promote the spread of digital art on a global scale. In addition, DAM will launch a new governance token, DAM, for selecting and managing NFT collections. Follow the TokenInsight mailing list for the latest cryptocurrency market updates; or follow us on Twitter and Telegram. If you have any news reports or announcements, please send them to news@tokeninsight.com.