By Jamie Redman
The non-fungible token (NFT) and blockchain firm Yuga Labs has announced a community council will be representatives of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections. Yuga Labs has chosen seven community members with “a proven track record” to represent the NFT club at large.
Yuga Labs Names Seven Community Council Members
On Wednesday, Yuga Labs announced that the team has created a community council of seven Apes in order to represent the entire BAYC and MAYC ecosystem. According to the announcement, the community council will be able to nominate three community projects every month, and BAYC and MAYC communities will then vote on which project will get a grant from Yuga Labs.
Projects can get 10 ether or roughly $15,000 worth of the second-leading crypto asset by market capitalization. The seven new community council members include Josh Ong, Sera, Laura Rod, 0xEthan, 0xWave, Negi, and Peter Fang. “The council will work with Yuga and the BAYC/MAYC community to uplift community-driven initiatives such as commercial projects, meet-ups, charitable giving, and other community-led ideas,” Yuga Labs’ announcement details.
Yuga Labs says the council members were chosen for their prior track records toward community-led initiatives and building. The news follows Yuga Labs officially releasing intellectual property (IP) rights to Cryptopunks and Meebits owners. The company had already released BAYC/MAYC IP rights to the owners of those specific NFT collections. Furthermore, Yuga Labs recently published the Otherside metaverse whitepaper and released a new teaser video about the upcoming project.
Regarding the two project’s autonomy, Yuga Labs said that the newly launched community council will keep the independence strong. “The BAYC/MAYC community is an autonomous bunch, and this council represents that — they’ll be bringing their various skill sets with ideas to the table, and we’ll work with them to make the best ideas reality,” the blog post published by Yuga Labs concludes.
Source: Bitcoin News