🟡 Implementation Update | AIP-468: Bored Trading Co Powered By ApeCoin

AIP Execution and Transparency AIP Implementation Updates
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AIP Name: AIP-468: Bored Trading Co Powered By ApeCoin

Implementation Status: Pending

Implementation Date: N/A

Author: @NFThoarder

Abstract Summary: Bored Trading Co (BTC) concept evolved as a clear need to build collaboratively with over 400+ MBAs ( Made By Apes) and numerous IP brands and projects. Coordinating with multiple IP brands, especially around major conferences, is arduous. Sending products, particularly internationally, is costly and time-consuming. High-profile events are often too expensive for a single IP brand to justify.

Recognizing the collective strength of the community with the launch of the MBA program, Jason co-founded BoredIn, a subcommunity supporting 200 MBAs founders building together. Boredin focuses on spotlighting and aggregating IP brands and product media and research. Feedback from numerous IP brands & BoredIn highlighted the following major challenges:

  1. Poor Visibility: Limited visibility and awareness outside Web3. While Web3 thrives on platforms like X, web2 consumers are on Facebook, Instagram, and TikTok where there has yet to be an incentivisation of customers, buyers, influencers to drive content.
  2. Limited Resources: Small IP brands struggle with time and money, even for essential functions like shipping, where commercial rates are 35-60% below published rates.
  3. Distribution Challenges: Scaling distribution for large order volumes or international shipments is challenging.
  4. Payments Barriers: Accepting crypto for E-commerce is challenging to set up and expensive with gas fees. Although there are some solutions for Shopify for an online store, there are no known solutions for in real life point of sale (POS) solutions which include ApeCoin and ApeChain. We plan to work with NiftyKit and other tech partners to help develop.

Overall Cost: Total amount requested from the ApeCoin Ecosystem Fund = $853,700 USD.

Related AIPs:

Timeline Updates:
1/2025: Completion of Milestone 1 (seen below), Funding payment initiated for Milestone 2

  • IP brand form to participate
  • Review submissions
  • Negotiate wholesale pricing and align on terms
  • Event Requirements Specification
  • Booth specification and architecture
  • Start development of Marketplace and POS
  • Develop marketing campaign
  • Purchase 30% budgeted IP product and receive
  • Hire Staff and Vendors

2/2025: Completion of Milestone 2 (seen below), Funding payment initiated for Milestone 3

  • Photo and video shoot to capture product and lifestyle shots (x.com)
  • Launch community reward socialfi program with leaderboard (x.com)
  • Design and order ApeCoin Powered curated box and bag
  • Test and launch e-commerce marketplace website with ApeCoin & ApeChain payments
  • Event (3 events) selection and registration for Milestone 3
  • Restock purchase 10% of budgeted IP product and receive

Interview Q&A:

1/27/2025:

  1. Do you have any reports or updates you would like to share with the community?
    Phase 1 of AIP468 is complete and we have started to work on progressing Phase 2. We will have more reports now that the website is up and running with products for sale.

  2. How can the community support your initiative?
    We have just launched our first curated item (ThankApe Snack Kit) along with our website (boredtradingco.com). It would be great if the community could support purchases if inclined or even like, comment, or retweet on socials.

  3. Have there been any delays or changes to the original timeline?
    We have seen increased lead time from MBAs to produce the quantity of products we are trying to secure. There has been a lot of coordination and negotiations required with MBAs to ensure the right product, curations, and pricing. In addition, the time for MBAs to prepare the product to ship to us for us to store and fulfil. This has pushed back the marketing and commitment to tradeshows and events since we want to ensure the most ROI. These delays are accounted for in the extended 15 month period to capture B2B deals to bring revenue and rewards back to the Dao.

  4. What are you working to accomplish before the end of the month?
    We will launch a phase 2 iteration of curating MBA products who want to get involved with Bored Trading Co. In addition, we are working on packaging to start shipping as we conclude the presale of the snack kit. As we have been working hard in the background, some events and tradeshows start to be booked to drive more exposure and B2B deals.

  5. Do you have any updates regarding the budget?
    We have spent a little more buying or committing to purchase orders to help give MBAs some buying / production power to allow us to go to market with a more competitive price point. This just pulls forward some of the future budgeted allocation to allow for the increased lead time required for MBAs to produce the product as well. For example, Chinese New Year is impacting some of these lead times.

  6. Do you provide consent to share these questions with the community in this forum?
    Of course.

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  1. The ApeCoin DAO has posted a few resources on navigating the AIP process, including a series of Discourse posts; based on your experience, are these resources and the website helpful for drafting an AIP?

These are great resources but still a very intimidating process. I wish there were initiatives like Ape U when I started writing my AIP. It is great to see the continued resourcing and support which will ultimately provide higher quality AIPs with a further engaged community.

  1. Have there been any delays or changes to the original timeline?

There are no delays in the original timeline as we are deploying our own capital while we make sure we are doing our due diligence in working through the agreement with the DAO. The original AIP timeline started when we received the funding so if anything we are working hard to hit the ground running and add value to ApeFest.

  1. Do you have any updates regarding the budget?

We are already lining up the right lawyer and accountant to ensure we are fiscal responsible.

  1. How can the community support your initiative?

We will be launching our MBA form for those interested to be in the first phase of Bored Trading Co. This will be released next week.

  1. Do you have anything you would like to tell the community?

We are putting together job descriptions for some of the gig / part time roles per the AIP. We will look to hire from within the community or referrals from the community.

  1. Do you provide consent to share these questions with the community in this forum?

Yes, please share with the community.

Responding to @bigbull

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As we await the agreement, we are hard at work …

We are excited to announce Bored Trading Co AIP468 is launching our MBA & IP Brand Collaboration form. 📢Exposure to tradeshow and events 🎁Product included in direct to consumer IP boxes 📺Opportunity to display digitally or physically at ApeFest ✍️Google form ~20 minutes to fill out ⏳Form open till Friday, October 4th for phase 1 consideration

Post: x.com
Form: https://docs.google.com/forms/d/e/1FAIpQLSf29wX97PKSqlupzdmLM13ckzrfLmkkFY4i5Ndnhnh6Hp0uJg/viewform?usp=sf_link

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Bored Trading Co agreement has been signed and we are awaiting funds. In the meantime, we have been busy cooking.

ApeFest - we were present at the Ape Hotel with snack kits in collaboration with Ape Concierge, at the Creator House we took over the back room to display / support many MBAs, at Convento we displayed a snack kit (including Bored Munchies, JC Snacks Peanuts, Grateful chocolate, and Bored Snax Cookies), and 8 Marvila we sold and displayed products from across the ecosystem.

MBA phase 1 submissions were completed before ApeFest with 23 MBAs submitting interest in participating. We will start reach out those who passed our rubric to negotiate purchases. We are working on identifying the first trade show to exhibit as the MBA submissions came from Food & Beverage and Apparel categories .

We are hiring!!! We are seeking a part time Social Media manager. The job description is found here so if you have feedback on the JD or referrals please reach out to us.

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Update on our progress X post.

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Launched our loyalty program