coindesk.com
Yuga Labs, creators of the Bored Ape Yacht Club non-fungible token (NFT) collection, has assembled a community council made up of notable Ape collectors to help grow its Web3 presence. The company announced the news in a Wednesday blog post.
“This council was formed with the intention of representing the club at large and providing a new avenue of perspective,” the blog post reads. “The council, and future councils to come, puts a more formal, efficient and consistent process in place for Yuga leadership to get community feedback and advice on an ongoing basis.”
The council includes seven members - Josh Ong, Sera, Laura Rod, 0xEthan, 0xWave, Negi and Peter Fang - all Web3 entrepreneurs and long-time Bored Ape owners. Yuga says the council will grow over time.
A primary task of the council will be to uplift Web3 initiatives in the Bored Ape community. Yuga mentions commercial products, meetups and charitable endeavors as some potential use cases for the grants.
Read more: What's the Story Behind Bored Ape Yacht Club Creator Yuga Labs?
The initiative is similar to the ApeCoin Foundation’s special counsel, a group of Bored Ape holders chosen to help steward ApeCoin proposals and grants, which are voted on by people who hold ApeCoin, the primary currency of the Yuga Labs ecosystem.
Yuga says this won’t be the last NFT council it assembles to help grow its steeple of brands.
“We are also exploring the evolving needs of our other Yuga NFT communities - CryptoPunks, Meebits, and Otherside,” the company said in the blog post.