Home Blockchain Yuga Labs establishes a BAYC community council to drive innovations

Yuga Labs establishes a BAYC community council to drive innovations

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Yuga Labs establishes a BAYC community council to drive innovations

Source: blockchain.news

Yuga Labs, a blockchain technology company best known for the creation of the Bored Ape Yacht Club (BAYC), announced on Wednesday the launch of its community council made up of prominent Ape holders to help grow its presence on Web3.

According to Yuga, the council aims to boost Web3 initiatives in the Bored Ape community. Some potential use cases for the board to improve include business products, meetings, and charitable efforts.

Yuga said the community council is made up of seven Bored Ape Yacht Club (BAYC) NFT collectors who are active in their community. The council includes seven members: Josh Ong, Sera, Laura Rod, 0xEthan, 0xWave, Negi, and Peter Fang, longtime Bored Ape owners and Web3 entrepreneurs.

The company described the council members as “long-time, proactive community members” who will focus on collecting and curating community feedback and bringing benefits of interest to the community. All members are encouraged to bring and submit their own ideas for upcoming initiatives.

Yuga said that the council would grow over time and further stated that this will not be the last NFT council to meet to help grow their steeple of brands. The company said: “We are also exploring the changing needs of our other Yuga NFT communities: CryptoPunks, Meebits, and Otherside.”

Yuga’s move asserts that the company is taking its NFT holders seriously and wants to provide them with a clear avenue to voice their concerns and ideas. The company commented: “The council, and future councils, implement a more formal, efficient and consistent process for Yuga’s leadership to obtain feedback and advice from the community on an ongoing basis.”

The initiative is similar to the ApeCoin Foundation special council charged with helping manage ApeCoin proposals and grants, which are voted on by holders of ApeCoin, the native token of the Yuga Labs ecosystem.

The above developments indicate that NFT platforms are not only focused on minting and sales, but are also continually evolving and reinventing themselves into a better version of their existing infrastructure. NFT markets are now adopting the decentralized autonomous organization (DAO) model, regardless of the fundamental purpose they serve. DAO emphasizes the interests of users and helps to cut through bureaucracy and overcome its potential outcomes.

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