Today, APECoin DAO announced that it will provide 13,000 APECoin in the form of microgrants to the Meebits NFT community. This is huge news for the community, as APECoin’s price is currently $3.08 USD, providing just under $40,000 USD for microgrants. So, what is the Meebits grant, and where are these micro-grants coming from?
APECoin DAO supports the development of Meebits utility
APECoin DAO will provide a total of 13,000 APECoin in three waves to the Meebits community. These grants are to further develop the NFT utility and add to the use of APECoin. Traditionally, APECoin DAO or Yuga Labs would identify the utility, however, these developments will come from the community. What will the community develop? Indeed, it is anyone’s guess.
Proposals can come from anyone and not just the Meebits community. As a result, this allows for ideas from outside the Yuga Labs and APECoin DAO to enter their ecosystem.
Where are the Meebits Microgrants coming from?
Importantly, 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 run by the NOUNS DAO and is similar to a Kickstarter campaign. However, unlike a Kickstarter campaign, the funds are already available. Furthermore, the community chooses the winner. Community-driven development is a hallmark of web3 and decentralization, and Prop.house has already completed 79 funding rounds.
What is the Meebits NFT Collection?
Meebits are a 20k piece 3D voxel NFT collection originally launched under Larva Labs. Yuga Labs purchased Meebits, along with the CryptoPunks NFT collection, in March of 2022. Since they have already had an introduction to the Sandbox metaverse, they’re perfect for an introduction to Otherside Metaverse.
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