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ApeCoin DAO Launches Community-Driven NFT Marketplace


cryptoknowmics.com 24 November 2022 04:06, UTC
Reading time: ~2 m

The ApeCoin DAO has unveiled its own white-label non-fungible token (NFT) market, which is community-driven and consists of ApeCoin holders. In March, the Bored Ape Yacht Club (BAYC)-affiliated APE ecosystem introduced ApeCoin, an Ethereum-based administration and utility token.

Launch of Community-Driven Marketplace

The newly launched community-driven marketplace has NFTs for trade from Yuga Labs-owned NFT collections, including BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherdeed for Otherside. It was created by non-fungible token (NFT) infrastructure startup Snag Solutions. According to the platform's CEO, Zach Heerwagen, special capabilities designed particularly for the BAYC and Otherside communities, like ApeCoin staking and NFT metadata integrations, are available. https://twitter.com/ZHeerwagen/status/1595462169419603968

Empowering Creators by Unbundling Markets

Additionally, the community-driven platform provides lower costs for sellers 0.5% for ETH transactions and 0.25% for ApeCoin transactions. Additionally, it retains 0.25% of each sale in a multi-signature wallet to finance upcoming decentralized autonomous organization (DAO) projects, providing a decisive victory for ApeCoin owners. Heerwagen tweeted that Snag's mission is to empower creators by disaggregating markets. The company was happy to join the ApeCoin community to change the existing quo with a platform that respects royalties while drastically cutting costs.

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