AIP-406: ApeCoin DAO multi-year partnership with Redacted, a Formula One Team

Final AIPs Accepted AIPs
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PROPOSAL NAME:

ApeCoin DAO multi-year partnership with Redacted, a Formula One Team

PROPOSAL CATEGORY:

Brand Decision

TEAM DESCRIPTION:

The APE Foundation is facilitating an AIP on behalf of [redacted], a Formula One (F1) racing team (“Redacted”). Due to confidentiality undertakings at this stage, we are unable to disclose the name of Redacted until after the voting period has finished and the grant agreement has been executed.

Redacted finished in the Top 6 of the 2023 Constructor Standings.

ABSTRACT:

The APE Foundation has been approached by a team with a strong history competing in Formula One. We are thrilled to present this proposal for a potential groundbreaking multi-year partnership between ApeCoin DAO and Redacted, an F1 racing team.

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BENEFIT TO APECOIN ECOSYSTEM:

An F1 team partnership offers a myriad of benefits, encompassing unparalleled brand exposure on a global stage. With a vast international audience reaching millions of viewers each race, the sponsorship provides an unparalleled platform for increasing brand visibility and recognition. Moreover, it offers unique opportunities for engaging with our global ApeCoin community. Beyond the track, the partnership extends to various marketing channels, including digital, social media, and events, maximizing the reach and impact of the partnership investment.

Designation (Non-Exclusive): Team Partner
Designation (Exclusive): Community Coin Partner
Intellectual Property: Use of all Redacted marks, footage, images, and logos for approved promotional purposes subject to individual team guidelines.

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OBJECTIVES

The partnership objectives are:

  • Unleash ApeCoin DAO’s first partnership in motorsports to enhance global awareness, ultimately ensuring further adoption and retention of a loyal user base for ApeCoin DAO and the partnership.
  • Expand the ApeCoin community by actively engaging and strengthening client relationships through Redacted events and ApeCoin DAO’s curated experiences, resulting in an exclusive and aspirational customer demographic.
  • Creating authentic storytelling, use cases through Redacted’s Web3 initiatives and ongoing projects to demonstrate ApeCoin utilities.

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TACTICAL CONSIDERATIONS

To bring results against the objectives above, Redacted was sure to consider the following criteria and directions in building out its recommendations.

  • Identify opportunities to integrate ApeCoin to the greater team motorsport network through structured events and programming.
  • Amplify ApeCoin brand presence throughout Redacted branding assets to enhance ApeCoin credibility in the web3 environment.
  • Offer enhanced hospitality and high-end VIP experiences & unique experiences to this partnership that can both replace and augment ApeCoin DAO’s current initiatives.
  • Propose compelling use cases showcasing ApeCoin solutions into our web3 ecosystem.

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KEY BENEFITS SUMMARY

Below, please find a brief outline of the foundational activations that will drive results against ApeCoin’s objectives. Redacted’s full recommendation, including detailed description of the ideas below, will follow.

  • Web3 developments and our commitment to provide access for ApeCoin DAO to exclusive integration throughout the full Redacted ecosystem.
  • Bespoke racetrack events that underscore and emphasize ApeCoin offering to customer settings.
  • Bespoke platform that can be used to add value to new and current ApeCoin DAO members reinforcing ApeCoin’s position as the leading culture token in the world.

Specific WEB3 operations to unleash with ApeCoin

ApeCoin shall be integrated in Redacted’s WEB3 strategy and explore new projects boosting ApeCoin/ApeChain development. There are numerous ways in which Redacted can activate ApeCoin IP and fanbase following to drive attention and use cases for ApeCoin and ApeChain. Below is a list of non-exhaustive ideas to be explored over the year of the partnership.

  • Limited Edition Redacted x ApeCoin merchandise with or without wearable in-game digital twins, purchasable in ApeCoin

  • Limited Edition ApeCoin wrapped Redacted team cars with or without drivable in-game digital twins, purchasable in ApeCoin

  • NFT traits, badges, liveries and accessories purchasable in ApeCoin to complement Redacted team collections

  • Loyalty activations within Redacted’s network for buyers or holders of ApeCoin

  • Loyalty activations with Redacted for engagement with the ApeCoin ecosystem (e.g. socials, newsletter sign-ups, AIP voting, proof of event attendance)

  • Avatar crossover activations between Bored Apes and Redacted avatars on Redacted’s web3 platform.

  • Gaming and metaverse activations produced in partnership with ApeCoin DAO and Redacted’s other gaming partners.

  • Creation of Redacted themed collections, locations, ships or storylines within Otherside,Dookie Dash and/or other Yuga Labs gaming offerings – gated or purchasable with ApeCoin.

  • Release of limited edition NFTs on ApeChain.

  • ApeCoin DAO will be able to leverage Redacted drivers to share educational videos on how ApeCoin offers utilities to holders.

  • ApeCoin DAO will have priority as Community Coin Partner to be engaged in new web3 projects and to be used as a payment system for specific Redacted projects.

  • Redacted will endeavor to create opportunities within the development of digital collectibles to amplify ApeCoin brand visibility amongst Redacted’s growing fan community.

Redacted x ApeCoin driver uniform special edition

Redacted should develop with its official apparel partner a special one race jersey edition worn by Redacted drivers during Grand Prix weekend. This edition will be available for sales exclusively to ApeCoin holders. The design will see ApeCoin having a prominent branding presence on the stomach.

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For illustrative purposes only, not the final design.

Signage and Brand Placements

Redacted Car Brand Placements

ApeCoin DAO shall receive the following season-long brand placement on the ApeCoin Redacted cars:

  • REAR ENGINE COVER LOWER

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Redacted Brand Placements

Alongside integration into the motorsport team logos, ApeCoin DAO shall also receive the following standalone season-long brand placement across all competitions:

  • Driver Uniform 1, race TBD, integrating ApeCoin designed and worn by Redacted drivers during the selected Grand Prix. Replica jersey will be produced and available only to ApeCoin holders.
  • Team Collateral Branding (i.e., partner stack, HQ reception, team transporters, team motorhome (European races only), press paper, website, media backdrop, garage panels, etc.)

At-Track Hospitality and Experiences

F1 Premium Tickets**
ApeCoin DAO shall receive:

  • Ten (10) Las Vegas Premium Hospitality Tickets (e.g. Koval straight in 2023)

    • Additional tickets can be purchased on top of limited allocation

  • Ten (10) Premium Tickets (Premium races: Miami, Singapore, Austin, Abou Dhabi)

    • Additional tickets can be purchased on top of limited allocation

  • Twenty (20) Premium Tickets (classic races: all grand prix not mentioned above)

    • Additional tickets can be purchased on top of limited allocation

**Each Premium tickets provides access to all three days of a race weekend. Most partners divide the Premium hospitality between each of the three days of a race weekend to triple the opportunities (i.e. up to 120 tickets).

The Redacted Premium ticket holders will get access to:

  • All day hospitality with gourmet cuisine and an open bar serving premium drinks.
  • Best seats in the house viewing experience with views of the pit lane including the start and finish line.
  • Daily walks in the pit lane where your guests can watch the mechanics working on the cars up close.
  • Guided tour of the Redacted garage.
  • Appearances by key team personnel including Team Drivers.
  • A special gift bag with branded merchandise from Redacted and race program.

ApeCoin DAO shall also receive the right to purchase additional Premium tickets at partner rate.

Circuit Admission Tickets

  • ApeCoin DAO shall receive Twenty-five (25) Circuit admissions tickets total for use at F1 races as selected and subject to availability. Each circuit admission tickets provides access to all three days of a race weekend. Most partners divide these tickets between each of the three days of a race weekend to triple the opportunities (i.e. up to 75 tickets).

Redacted Passes

ApeCoin DAO may request team passes over the term of the partnership. Team Passes allow for “backstage access” to a space reserved for Drivers, Team Principals, Pit Crew, Team Staff, and VIP guests. Such passes should be used in line with a Premium Ticket and include the right to watch live sessions from the Redacted Garage and access to the podium ceremony. All team passes are to be used in conjunction with a Premium tickets.

Motorhome / Team Dinner

  • ApeCoin DAO shall receive one (a) private dinner events at the Redacted motorhome space, each for up to six (6) guests, on Thursdays or Fridays of race weekends (except few overseas races with small hosting area).

Car Launch

  • Car Launches: Three (3) passes to the car launches each season.

Access to Drivers & Management

Driver Appearances

ApeCoin DAO shall receive:

  • Three (3) Redacted driver appearances during the race weekend
  • In addition, all ApeCoin DAO guests visiting Redacted shall have the opportunity to meet the Redacted drivers, subject only to their racing, engineering and media duties. The Redacted drivers shall also visit the team’s guests in the Redacted premium suite at selected times during each race weekend.
  • Two (2) Academy Team Driver appearance during the race weekend.

Senior Management / Leadership Appearances

ApeCoin DAO shall receive:

  • Four (4) senior management / leadership appearances during the race weekend.

Ambassador Appearances

Redact shall explore activations and collaborations with one (1) Ambassador per year to promote ApeCoin partnership.

Merchandise, Account Management, and Measurement

Memorabilia

ApeCoin DAO shall receive:

  • Fifty (50) Redacted driver signed caps signed by 1x Redacted driver.
  • One hundred (100) official Redacted polo shirts.

Digital Media and Launch Plan

Digital Integrations

ApeCoin DAO shall receive:

  • Landing Page: A dedicated landing page on Redacted Racing website(s).

  • Social Media Posts

    • Two (2) bespoke social posts relating to ApeCoin x Redacted content on agreed social channel, on at least two Redacted social media channels

Launch Plan

ApeCoin DAO and Redacted shall jointly announce the partnership across all Redacted social channels through a coordinated, multi-channel launch strategy that will include a press release and partnership video.

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KEY TERMS:

F1: Formula One

Redacted: A Formula One racing team

Designation (Non-Exclusive): Team Partner

Designation (Exclusive): Community Coin Partner

Intellectual Property: Use of all Redacted marks, footage, images, and logos for approved promotional purposes subject to individual team guidelines.

PLATFORMS & TECHNOLOGIES:

Redacted WEB3 Platform/Ecosystem: a bespoke platform for ApeCoin. To be developed and revealed as part of the partner reveal.

ApeChain : The ApeCoin DAO approved ApeChain.

STEPS TO IMPLEMENT & TIMELINE:

The APE Foundation will work with Redacted to execute its grant agreement. Upon execution of the agreement, the name of Redacted will be revealed.

The APE Foundation will work closely with Redacted for the entire implementation of the program while soliciting feedback from the ApeCoin community on ways we can optimize the experience for the DAO. The APE Foundation will oversee custody of the F1 experience tickets/merch/benefits, but the intention is for the APE Foundation and Redacted to develop a framework for distribution to be proposed to the ApeCoin community. The purchase of additional tickets (if any) would be done via an AIP.

The expectation is that granular details surrounding the implementation of the partnership will need to be determined. The APE Foundation will communicate with the ApeCoin community regarding the next steps of this process.

OVERALL COST:

Amount requested from the ApeCoin Ecosystem Fund = €5,125,000 total over the first two years proposed

Year-One payment schedule:

  • 40% €1,000,000.00, upon approval of the AIP and the execution of the grant agreement
  • 30% €750,000.00, April 2024
  • 30% €750,000.00, June 2024

Year-Two payment schedule:

  • €1,050,000.00, February 2025
  • €787,500.00, April 2025
  • €787,500.00, June 2025

ApeCoin DAO retains the option to renew the partnership for a third year, following the payment schedule above, with a 5% escalator. The DAO may choose to exercise this option with a follow up AIP.

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Hi,

I’m all in for the idea of ApeCoin being a Community Coin Partner, and the tactical considerations are on point – integrating ApeCoin into the motorsport network and amping up our brand credibility in the web3 space (OKX / crypto.com created a valid POC).

I do like to suggest, create a team which will work with F1 team, for the amount of money we need team to communicate as well be around the events and monazite it.

Best,
-Mr. Hype :fire:

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I grew up with a Scottish grandfather who was all about racing, so I learned from an early age that it’s Formula One – and everything else after that.

The Marlboro cars were my team, with Alain Prost and Aryton Senna.

I also liked the Benetton team with Gerhard Berger; Ferrari with Michael Schumacher; and drivers like Nigel Mansell and of course Jacques Villeneuve :canada::canada:

Great to see attention back on the sport with palatable branding that fans can latch on to, like the Red Bull cars, and other exposure through storytelling by Netflix.

These are the moves that the community needs to be taking hard looks at.

Calculated big swings bring back calculated big results.

AC

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It has My attention !!

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in lack of words on how amazing that could be

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this is dope and excited to see how it plays out.

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How can the community make a fair assessment of a proposal when the AIP is being made on behalf of a phantom?

Vote ‘FOR’ an initial €5,000,000 payout based on withheld information. :joy:

IMO proposals with the words “on behalf of……redacted” have no place here.

The APE FOUNDATION has obviously failed in their duties to clearly explain to the “redacted” what a DAO is and how we work!!!

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Can I ask how will these be distributed? Fairly to any apecoin holder via a verified random process? OR Shared out to “top-brass”/reserved for the most “highly-active” DAO members?

Some clarification/commitment would certainly be appreciated.

I’d like to see all of these perks distributed fairly to apecoin holders, and not a pre-selected few.

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I’m a big fan of F1 so this is an AIP that definitely interests me.

But, at the level of funding being requested here, it’s really darn hard to evaluate what we’re paying without knowing the team in question. There’s a VERY BIG difference in the level of exposure this will get Ape Coin depending on what team we’re sponsoring.

I’m going to go out on a… very thick branch… and say that this isn’t Red Bull, Mercedes, or Ferrari. These tier 1 teams have sponsors all over them, so I don’t see them going through a process as prickly as submitting an AIP for funding.

I really don’t see any F1 team doing that, except…

Haas. :joy: Surely this is Haas. There’s a chance it could be Stake, but they convert to Audi in 2026 so I’m unsure if they’d be looking for multi-year deals, but given that Stake is already a crypto company it makes sense. There’s even smaller chances that this could be Williams, Alpine, or RB Visa Cash App (worst name in F1 history.)

But all that to say, Haas is likely to finish last this year, and without Guenther running the team, the exposure they get will also likely be the least. Still I think it’s cool and we’d get true international exposure from it. We’d also likely have some Ape Coin exposure on Netflix on future Drive to Survive seasons as a result.

But, as much as the team wants to protect their reputation (and I get it), I don’t think we can make an intelligent decision without knowing the team in question. It’s THE core consideration when thinking about what we’re getting for the money. So please tell Haas to be transparent here. :stuck_out_tongue:

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More evidence that this is Haas. They collaborated with Renga to release PFPs, and to the best of my knowledge, they’re the only F1 team to have anything resembling an avatar in web3. Red Bull does have an NFT, but there’s no “avatar” to speak of. Also the text above says

Which I don’t think you could honestly apply to Stake. Even though Stake is just a rebrand of Alfa Romeo until it converts to Audi, technically Stake is still a brand new team. So for anyone evaluating the value here, I’d suggest just doing said evaluations using Haas as the team in question.

And even if this is Haas, I think I’d probably be in support of this AIP. I mean hey, they might beat Alpine this year! But I’d love to understand typical sponsorship costs for this placement on the car. As I’ve never sponsored an F1 team before, I have no idea if the price is “fair,” or if we’re getting a crypto upcharge. These numbers obviously vary wildly based on the team in question, but still. How do we know as a community that we’re being given a compelling offer? That would be a bit reassuring.

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Very good post!

I come from the Gaming influencer market, and i will recomment more to buy a space on a shirt of a driver than on the car itself. Branding needs to be a Human and not a product the Human is using like a car. You will check more logos at interviews than on the racetrack.

There is a AI that checks how man seconds logo will be showed and allwas interview shirt branding wins.

FYI

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Fantastic! This proposal is a source of pride for us, and I can’t wait to see the immense value it brings to ApeCoin DAO culture while also reaching more Web2 users. I’m eagerly anticipating this collaboration!

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Interesting idea, but that’s not how sponsorship in F1 works. You sponsor the entire team, not specific elements of them or what they wear.

Also upon reflection, I really don’t think that I can support this without knowing the team in question. It’s such a big deal WHO you’re sponsoring in F1. There’s magnitudes of difference in terms of the impact you’ll get depending on who the team is. The DAO is being asked to spend several million here, and we’re not even being given a name to make an intelligent decision with.

While I get that Haas doesn’t want a reputational blow if the monkey pictures vote them down, that’s a risk they’re going to have to take if they want the capital from my POV. I support the idea in concept, and I would probably vote yes when the team is announced as Haas, but yeah. I can’t imagine anyone else being asked to sponsor a team without knowing who they were. It’s not fair to the DAO.

But it’s Haas. Really. Definitely Haas. :joy:

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Just throwing some quick support to this post. I’ve edited more detail into the last post I made, but it’s not a fair ask for the DAO to spend millions sponsoring a team that we don’t even know the identity of. (It’s Haas.)

As previously stated, I get that they want to protect their reputation if this vote loses, but at the same time, we’re being asked to take an unreasonable leap of faith here. Too much money is on the line, IMO.

In spirit, I support this AIP. I’d buy a shirt or hat from whatever brand this is with the ApeCoin logo slapped on it. But, we need to know who we’re talking about. It’s a really, really big deal when trying to determine the value of this deal.

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I pretty much agree with everything you’ve said - the ideas laid out seem sound and overall have great promise - really something I could get behind (I’m also a lover of F1). But to be asked to make a brand partnership decision we’d need to know the name. Having said that I want to add that I think the DAO is making great progress, aiming high, and I really think overall things are going in the right direction. :muscle:

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This might help apecoin, but I’m not sure if it’s worth the grant. A very large amount will be given and it will be in apecoin. We cannot get anywhere just by distributing funds from the treasury. Everything that is carried out without generating income is doomed to end. I think the price and perception are proof of this.

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Hi @mattborchert,

I totally get where you’re coming from! But I do understand the reasons not sharing the team behind the proposal, it’s challenge the foundation and DAO is facing when we want to expose outside twitter space.

While the mystery around the team adds a layer of intrigue, I completely agree that knowing the team’s identity is crucial for evaluating the value of this sponsorship.

From DAO member perspective, I do feel even if it turns out to be Haas, as you speculated, the concerns about their performance and exposure are valid points, but still we will have a proud moments as a community and business perspective which probably will cover the investment.

Knowing the team will indeed be a game-changer in making an informed decision, as a middle solution, the foundation can edit the AIP and include performance of the team last year (top 5 / top 10…).

I don’t think I can attend to f1 races if it Haas tbh :apekinsorry:

Best,
-Mr. Hype :fire:

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I agree that at least some additional information like top 5 would be helpful, I don’t think we’ll see them do that. Haas finished 10th in the constructor’s championship last year (last). So saying top 10 doesn’t really help us. :joy:

Now I’d probably vote yes even if this is Haas. I don’t think they finish last this year (hello Alpine!), but… If we were do this deal as is, I bet we’d be the first sponsor in F1 history to sponsor the team without knowing who they were. It’s such an unreasonable ask. If someone is asking for millions of dollars from us, and they’re so worried about their reputation as a result of doing so, maybe this isn’t exactly an equal partnership that we should consider. Really just think about that for a moment and the general level of respect it’s showing the DAO.

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Agree with you.

-Mr. Hype :fire:

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I’m a big fan of F1, would be nice seeing this come into existence

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