ApeCoin DAO’s own NFT marketplace
ApeCoin DAO today launched a new dedicated marketplace to sell Bored Ape Yacht Club (BAYC) related NFTs (Non-Fungible Tokens).
The new marketplace, built specifically for the BAYC series, also offers features such as ApeCoin staking and NFT metadata integration.
In addition, we respect the royalties (remuneration) that creators receive, and for NFTs listed from other marketplaces that do not collect royalties, the royalties paid to creators are added.
Half of the sales commission for each transaction will be returned to the ApeCoin DAO community. ApeCoin DAO is an autonomous decentralized organization related to BAYC. Apecoin (APE) is issued as a governance token within the APE ecosystem .
Seller fees are set low, and NFT sales are subject to a 0.5% fee for Ethereum (ETH) sales and a 0.25% fee for Apecoin sales. A uniform 0.25% of the sales amount will be given to ApeCoinDAO, and the funds will be stored in a multisig wallet .
Built by Snag Solutions
The new marketplace was built by NFT platform developer Snag Solutions. NFT marketplaces such as Magic Eden and Rarible had also submitted proposals to the ApeCoin DAO, but Snag Solutions eventually acquired the rights to develop them.
Rarible dropped its bid after Magic Eden’s plan was rejected.
Snag Solutions is a July-launched firm. It has also established its own NFT marketplaces, including Goblintown, Crypto Chicks, and Pirates of the Metaverse.
In total, the company has built about 10 marketplaces so far, according to founder Zach Heerwagen.
Snag Solutions is unique in that it offers a bespoke marketplace called “White Label”. We offer lower transaction fees than before, emphasizing loyalty to creators. It also has a function to prevent counterfeit NFTs from being distributed, such as the data tools of the NFT collection.
Regarding the future of the new marketplace for BAYC-related NFTs, Mr. Heerwagen commented that while planning social functions linked to tokens, he would like to incorporate opinions from the community.
Heerwagen also reports that blockchain developer team solidity.io has audited the new marketplace and found no critical vulnerabilities.
Controversy over royalties
Currently, in the NFT field, there is a lot of discussion about whether royalties should be collected. Royalty is a big source of income for creators and projects, but there is a background that the market share is increasing in a few months on platforms that voluntarily charge royalties.
The largest NFT marketplace OpenSea announced on the 10th that it will continue to collect royalties for NFTs already listed on the platform.