- Yuga stressed its desire to maintain the council’s autonomy or independence.
- Participants are invited to come and share proposals for new projects.
Yuga Labs, a major player on the Web3 platform, has announced the formation of a community council made up of seven prominent members of the Bored Ape Yacht Club (BAYC) NFT ecosystem.
Yuga announced the council members in a blog post published on Wednesday. Calling them “long-standing proactive community members” who will work to collect and organize community input and lead charitable initiatives.
In addition, Yuga stressed its desire to maintain the council’s autonomy, or independence from the multibillion-dollar startup. Participants are invited to come and share proposals for new projects.
New Robust Forum
Twitter Spaces, Discord servers, Telegram groups, and token-gated conferences and parties are all common places for NFT-based communities to get together online and in real life. The “community” around a certain NFT collection may also play a role in influencing a given investor’s decision to acquire or dispose of a given digital asset.
Therefore, Yuga’s decision to form a community council is more evidence that the business values its NFT holders. And wants to provide them with a robust forum for doing so.
The company wrote in its post:
“This council, and future councils to come, puts a more formal, efficient and consistent process in place for Yuga leadership to get community feedback and advice on an ongoing basis.”
But what do the folks of BAYC think of their freshly elected council? There are many who are resentful and dissatisfied at having been passed over. Both the evaluation criteria and the selection process utilized by Yuga Labs to choose who would serve on the council remain unknown.
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