START YOUR ENGINES: The ApeCoin DAO Is Partnering With An Unannounced Formula 1 Racing Team!

The ApeCoin community’s need for speed was on full display this month after $Apes revved their engines and quickly took to the polls to approve a high-octane, 5.5-million-dollar multi-year partnership with a REDACTED Formula 1 team!

On Wednesday, AIP-406 titled “ApeCoin DAO Multi-Year Partnership with Redacted, a Formula One Team,” was written by the ApeCoin DAO’s Administrator, Webslinger.

“ApeCoin DAO has passed a thrilling partnership with [Redacted] Formula 1 team,” the DAO tweeted yesterday night. “Get ready for an adrenaline-fueled ride as we rev up for this multi-year partnership. Additional details will follow as the agreement is finalized. Stay tuned for all the exhilarating updates!”

After the DAO’s approval of AIP-406, BoredApeG, a Special Council Member of the ApeCoin DAO, expressed to the Gazette his happiness at seeing $Apes embracing culture and showing boldness.

“ApeCoin is about art, gaming, entertainment, and events; this initiative is going to bring all of that to life across our global membership,” he said. “This is a big partnership and we have demonstrated to not only the web3 community, but to the world that the ApeCoin DAO is a welcoming place for global brands to present ideas. This kind of proposal having gone through the DAO is a terrific example of the possibilities enabled by our governance structure. Personally, I have observed in the ApeCoin DAO that often times activity is paralyzed by over analysis of all the things that could go wrong, are incomplete, etc. However history has shown that the most meaningful initiatives accomplished to date for ApeCoin have been people/organizations putting up big ideas with a reasonable path to success instead of kicking the can down the road looking for perfection (which is unlikely in a DAO). Is there a lot of work for the community still left to do in order to maximize this opportunity? Yes. But I'm overwhelmingly confident in the talent of our ApeCoin DAO community to take full advantage of this multi-year partnership.”

BoredApeG went on to say that the ApeCoin DAO is currently finalizing the finer points of the deal with the unannounced F1 team and that the community can expect to find out more about this partnership in the next couple of weeks.

The Bored Ape Gazette will continue to follow the ApeCoin DAO’s F1 partnership and will keep you up to speed on the deal when more information is announced. Stay tuned for updates!