Yuga Labs, the powerhouse of Web3, has announced the creation of a community council made up of seven Bored Ape Yacht Club (BAYC) NFT carriers active in their community.
In a blog Publish Published on Wednesday, Yuga said the board members – described as “long-time, proactive members of the community” – will focus on collecting and curating community feedback and leading philanthropic efforts.
Yuga said he also wants to keep the council “autonomous”, meaning it is not governed by the multibillionaire Begin. Members are encouraged to contribute and present their own ideas for future initiatives.
NFTs – unique blockchain tokens that signify ownership of an asset, usually digital art – have become an important part of Web3. NFT-based communities often gather across the Internet and IRL in Twitter spaces, Discord servers, Telegram groups, and at conferences and token parties. And the “community” of an NFT collection can be a determining factor that leads a trader to buy or sell their digital asset.
Yuga’s decision to establish a community council therefore affirms that the company wants to take its NFT holders seriously and give them a clear avenue to voice their ideas and concerns.
Monkeys, we wouldn’t be where we are today without our amazing community. We are thrilled to announce the first BAYC Community Council comprised of 7 long-time proactive members of the community to work alongside us moving forward. 🧵below
“This council, and future councils to come, establishes a more formal, efficient and consistent process for Yuga leaders to obtain ongoing community feedback and guidance,” the company wrote in its post.
Newly appointed board member Wave, aka 0xWave, said Decrypt via Twitter DM that he thinks the council’s job is to “primarily serve as aggregators of community ideas and feelings rather than inject too much of my personal preferences.”
Wave said it also wants to help BAYC holders better understand crypto security, especially when it comes to protecting their valuable NFTs. According to Dune Data413 NFT Bored and Mutant Ape are currently marked “Fly” on OpenSea.
“Holding these assets puts a target on your back to bad actors,” he said.
But what does the BAYC community think of their new advice? Some are disappointed not to have been chosen and maybe even a little bitter.
“I’m not mad, I’m not on the official BAYC community board [sic] I just wanna know what I’m doing wrong,” an annoyed monkey passing by Storm wrote on Twitter in response to the news.
“I would advocate not seeing the current council as forever inscribed, but rather as a first iteration,” Wave said. replied.
Several Twitter users also expressed surprise that Mutant Ape holder “ThreadGuy” didn’t make the cut.
Man @notthreadguy represented this MAYC his entire career on Twitter and was not on the board
While council members may be optimistic, the responses on social media are mixed. A Mutant Ape holder cheered on Yuga and declared that advice “is exactly what Web3 is”. Others, as technical journalist Asa Hikennoted that Yuga has “personally chosen who will represent the community, as opposed to a vote among the holders”.
It is unclear what criteria Yuga Labs used to evaluate potential board members or how the final members were selected. Yuga Labs has not responded yet Decryptrequest for comment.
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