ApeCoin (APE) Community Gets Its Separate BAYC NFT Marketplace

The ApeCoin community has three proposals up for voting to have a separate NFT marketplace for Apes powered by ApeCoin (APE). NFT marketplace Magic Eden earlier proposed to build the ApeCoinDAO marketplace for the ApeCoin community to slash transaction fees, increase user experience, and increase APE utility.

ApeCoin Community Votes on 3 NFT Marketplace Proposals

Solana-based NFT marketplace Magic Eden’s proposal “AIP 93: A Marketplace for Apes, by Apes, built by Magic Eden – Brand Decision” is now open for voting from September 16-22.

The proposal aims to build the ApeCoinDAO marketplace for ApeCoin (APE) holders to buy and sell ApeCoinDAO NFTs including BAYC, MAYC, BAKC, and Otherside Otherdeeds. It will have discounted 0.75% transaction fee, with no cost to the DAO.

The community has voted “against” the proposal of Magic Eden to build an NFT marketplace for the ApeCoin community. In fact, 85% of users have voted against the proposal, receiving 99K APE. Whereas, nearly 15% have voted in favor of the proposal, receiving 17K APE. Therefore, it indicates the community is against the proposal.

Meanwhile, Snag Solutions’ “AIP-98: A Community-First ApeCoin DAO Marketplace Proposal – Brand Decision” has received major attention from the community. Also, the proposal has received 99.73% votes in favor and 0.27% votes against the proposal. The proposal is 50% less expensive than Magic Eden’s proposal.

Proposal to Fund NFT Marketplace

The ApeCoin community also voting on the proposal “AIP-87: NFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collections – Ecosystem Fund Allocation” from September 16-22. The proposal aims to build a marketplace for Yuga Labs and Otherside Partner NFT collections.

The developers have already built a marketplace, apecoin.x.xyz, and look to add intellectual property aspects to the NFTs. The proposal has received 56.66% “against” votes and 43.34% “in favor” votes.

The ApeCoin community will select a proposal that is in favor of them, reduces fees, and increase APE utility.

At the time of writing, the APE price is trading at $4.88, down nearly 7% in the last 24 hours.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

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