I Divested in the Thing I Love and All I Got Was This Stupid T-Shirt

Posted by Matt Birchler
— 1 min read

Elizabeth Lopatto: Bored Ape Yacht Club’s newest merch drop can only be bought with ApeCoin

Members who pay in ApeCoin are essentially giving their ApeCoin DAO vote back to Yuga Labs, further consolidating Yuga Labs’ control over the DAO.

So you can buy ApeCoin, which earns you investment in the future of the coin, but it also gains you voting shares in decisions made in the future. Want to support them even more and get some sweet real-life swag? Well then you gotta spend your ApeCoin, which negates both your opportunity to gain from the coins (potential) gains, as well as giving up your votes in future decision-making?

I know I'm skeptical of all things "web3" but this seems antithetical to the whole idea or rewarding those most invested in a project, right?