The Digital Art Movement Purchased A Gold Fur Bored Ape For $1.92 Million USD. Here's What You Need To Know:

The Web3 world is collectively saying damn after MachiBigBrother’s ApeCoin DAO funded Digital Art Movement initiative purchased its first gold fur primate!

 Things were anything but boring around the Bored Ape Yacht Club on Thursday after the Digital art movement, that’s mission is to curate an NFT collection of Yuga Labs assets and get them displayed in museums and galleries around the world, purchased Bored Ape #830 from longtime BAYC member 0xWave for 500 ETH or $1.92 million USD.

Bored Ape #830 is a five trait solid gold fur primate with a leather punk jacket, bored eyes, and a bored mouth. Based on these traits, Bored Ape #830 is the 307th most bored Bored Ape, according to Rarity Tools.

“I’ve been chasing the ape for myself for a longtime,” DAM’s Founder MachiBigBrother told the Gazette. “I wanted it for my personal collection forever. Now I have to share it with all you bozos.”

As the Bored Ape Gazette previously reported, everyone who holds $Ape will soon have the chance to lock their coins and receive ‘DAM’ tokens that represent fractionalized ownership and control of the DAM initiative’s NFT collection.

“DAM tokens will be a fair-launch project, with zero team token allocation,” Machi wrote in AIP-304. “Initial token distribution will go to users that timelock ApeCoin for up to 5 years, decentralizing governance to the ApeCoin community. One ApeCoin locked for 5 years creates an initial balance of one time locked APE (tlAPE), with the balance decaying linearly over time toward unlock. This means 100 ApeCoins locked for 5 years is equal to 500 ApeCoins locked for 1 year.”

After this evening’s gold fur purchase, the DAM initative now holds 41 Bored Apes and five Mutant Apes. Take a look at the collection below:

 

Going forward, the community can expect to see a lot more purchases from the DAM initiative, which has been allocated 11,000,000 $APE or $24,090,000 USD, and a lot more Apes and Yuga Labs NFTs in museums and galleries around the world.

 

“Digital art remains underrepresented in the art world, I want to change this,” MachiBigBrother wrote in AIP-304. “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. By exhibiting this collection worldwide, we will make NFTs more accessible publicly and drive conversations around the benefits of digital art. This conversation will naturally lead to benefits of digital art, enabled via permissionless blockchains as well as proof of ownership, authenticity, and provenance. Educating the public about our space is key to mass appreciation.”

 

The Bored Ape Gazette will continue to follow DAM and will keep you posted on DAM Token and all of the initiative’s purchases. Stay tuned for updates!