The SEC is reportedly looking into how ApeCoins, the Ethereum-based governance and utility tokens used within the APE ecosystem. 

Why is this significant for AutoMinter and creators in web3? Well, many of you will be aware that AutoMinter is becoming decentralised and following a somewhat similar path to Yuga Labs, with the establishment of the creator and community-driven DAO and the $AMR utility token. To begin with, we’re airdropping free tokens to the creators, contributors and the community that helped us get to where we are.

Before discussing this to any degree, it’s important to mention that the inquiry may not lead to allegations of misconduct by Yuga Labs or the APE Coin DAO.

For many teams, groups and communities in the web3 space, like AutoMinter, the natural step to expansion and decentralisation is the establishment of a DAO to tokenise community participation. This is also required to create a governance framework, set a clear mission and implement incentive frameworks for team members and contributors. Along with everything more traditional cooperatives and member-based associations need to consider.

AutoMinter may not be established in the US, however, the implications of cases involving large players like Yuga Labs may have implications for new globally regulatory developments.

We believe it’s important that the ecosystem is informed of the developments, and AutoMinter will continue to seek clarification from regulators on their assessments of what activities are regulated and what are not.

For more information on how and why AutoMinter is becoming a DAO – check out the article “No-code tools in web3 – a new category of decentralisation.” 

And check out the AutoMinter Token