Yuga Labs, a blockchain company and non-fungible token (NFT), has announced that a community council will include representatives from the Mutant Ape Yacht Club and Bored Ape Yacht Club NFT collections. Yuga Labs has chosen seven community members with “a proven track record” to represent the NFT club at large.
Yuga Labs Names 7 Members to Its Community Council
Yuga Labs revealed Wednesday that it has established a seven-member community council to represent all of the BAYC/MayC communities. According to Yuga Labs’ announcement, each month the community council is allowed to nominate three projects for community funding. The BAYC, MAYC, and Yuga Labs communities then will decide which project gets a Yuga Labs grant.
You can receive 10 Eth or approximately $15,000 of the second most valuable crypto asset according to market capitalization. Josh Ong and Sera are the new members of the community council. “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 states that council members were chosen based on their previous track records in building community initiatives. Yuga Labs has officially released IP rights to Cryptopunks/Meebits owners. The BAYC/MAYC IP rights had been released by the company to NFT owners. Yuga Labs published the Otherside metaverse paper and debuted a teaser clip about their 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.
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Images CreditsShutterstock. Pixabay. Wiki Commons. BAYC. Yuga Labs.
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