Cointime

  • BTC $17114.91 0.08 %
  • ETH $1276.76 -0.01 %
  • BCH $111.00 -0.09 %
  • SOL $13.60 -0.15 %
  • XRP $0.39 -0.18 %
  • BNB $291.80 0.03 %

ApeCoin DAO Launches Community-Driven NFT Marketplace

1 min read Original Link

ApeCoin DAO, a community-led governing body made up of ApeCoin holders, has launched its own white-label non-fungible token (NFT) marketplace. ApeCoin, the Ethereum-based governance and utility token used within the Bored Ape Yacht Club (BAYC)-linked APE ecosystem, launched in March.

Built by NFT infrastructure company Snag Solutions, the new community marketplace lists for-sale NFTs from Yuga Labs-owned NFT collections like BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC) and Otherdeed for Otherside.

The platform also offers a reduced-fee structure for sellers – .5% fees on ETH transactions and .25% fees on ApeCoin transactions – and holds .25% of each sale in a multi-sig wallet to fund future DAO initiatives, creating a benefit loop for ApeCoin holders.

Its unique fee structure comes at a time when NFT marketplaces like Magic Eden and LooksRare have dropped mandatory creator royalties, which put pressure on competitors like OpenSea and X2Y2.

All Comments