ApeCoin Holders Can Lock Up Their $Ape And Start Earning $DAM To Own A Piece Of A High-End NFT Collection. Find Out More

Ape holders can now lock their coins and start earning $DAM, which represents ownership of the Digital Art Movement’s top-tier NFT collection featuring hundreds of Bored Apes!

Nine months after the ApeCoin DAO voted to allocate 11 million $Ape to MachiBigBrother’s Digital Art Movement initiative, ApeCoin DAO contributors can get in on the action by locking their coins for a set period to earn $DAM tokens, becoming fractionalized owners of one of the best NFT collections in the Yugaverse, with 153 Bored Apes, 19 Mutant Apes, and other NFTs!

$Dam staking started on Blast and the Ethereum Mainnet on July 1st  and 17 stakers have already locked 231,753.91 $Ape or $164,429.40 USD in the contract and are earning $DAM, according to the project’s website.

Everyone who holds $Ape is invited to lock their $Ape anytime between now and the end of $DAM’s five-year staking program.

In total,  $Dam token has a total supply of 10 billion coins. Three billion $Dam will be distributed to $Ape holders who lock their coins anytime over the next five years and the remining seven billion $Dam tokens will be placed in the token’s treasury which $Dam holders will control, according to the project.

As the Bored Ape Gazette previuosuly reported, along with purchasing Apes and giving $Ape holders the opportunity to own a piece of a high end collection, the Digital Art Movement’s other goal is to get Apes placed in museums, galleries, and schools around the world.

 

“Digital art remains underrepresented in the art world, I want to change this,” MachiBigBrother wrote in his proposal. “I want digital art to be omnipresent. By creating and curating the Digital Art Movement Collection (aka “The DAM Collection”), we can proliferate appreciation for digital art worldwide thus leading to education and adoption. There’s no better group of people than ApeCoin DAO members to cement our place in digital art history."

 

$Ape holders who are interested in finding out more about $Dam can check out the project’s website here: https://damdao.org

 

The Bored Ape Gazette will continue to follow the Digital Art Movement and its work to get Apes and other NFTs placed in museums, galleries, and schools. Stay tuned for updates!