Apecoin DAO has launched its own NFT marketplace and this is causing a buzz in the NFT community. But what’s unique about it?
Apecoin DAO, the DAO of the APE token launched by popular NFT collection; Bored ape yacht club (BAYC), has officially launched its very own marketplace that will allow the listing and trading of NFT pieces and collections.
Some BAYC related pieces are already listed on the NFT market place like the Mutant ape yatch club, Bored ape kennel club, and otherdeed. This is coming at a time when marketplaces like Magic Eden and XyX2 are competing for market share as issues with creator royalty fees arise.
The marketplace comes with some unique features such as low transaction and listing fees, and community royalty fees.
Details of the Apecoin marketplace bid
The Apecoin DAO voted for who the marketplace contract will be awarded to and about 88% of the community voted for snag solutions, a company founded by Zach Heerwagen and Jason jong. They have a track record history of building solid projects such as Goblin town and Geuine Undeed.
They were reportedly paid an upfront fee of $50,000 before the commencement of the project. The co-founder of snag solutions, Zach Heerwagen made a tweet about the new development stating other unique features of the Apecoin marketplace.
He also stated that the marketplace has been successfully audited and is free from vulnerabilities.
Yugalabs, the company overseeing BAYC makes known to the public that they are not affiliated with the Apecoin marketplace.
The marketplace launched officially on November 23rd so we are yet to see NFT players move in fully into this new marketplace.
With the never-ending royalty fee debacle with NFT marketplaces like XyX2, and Magic Eden, we might see the Apecoin marketplace dominate in terms of market share. lets see how that turns out.
Apecoin, is the official token of the bored ape yacht club which airdropped a certain percentage of tokens to its BAYC holders sometime in march 2022. Yugalabs is a company overseeing the activities of the BAYC.