ApeCoin (APE) Community Plans Separate NFT Marketplace

• Earlier, NFT marketplace Magic Eden suggested building the ApeCoinDAO marketplace.
• The DAO will not bear the burden of the reduced transaction fee of 0.75%.

There are now three proposals up for vote in the ApeCoin community that would create a dedicated NFT marketplace for APE. Earlier, NFT marketplace Magic Eden suggested building the ApeCoinDAO marketplace for the ApeCoin community in order to reduce transaction costs, improve the user experience, and expand the usefulness of APE.

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

Magic Eden Rejected

ApeCoin (APE) holders will be able to trade ApeCoinDAO NFTs like BAYC, MAYC, BAKC, and Otherside Otherdeeds on the proposed ApeCoinDAO marketplace. The DAO will not bear the burden of the reduced transaction fee of 0.75%.

As a whole, ApeCoin users have decided they don’t want Magic Eden to create an NFT marketplace. The idea has been rejected by 85% of users and has been awarded a total of 99K APE. However, the positive votes totaling almost 15% have earned the proposition $17,000 in APE. As a result, this shows that people are generally opposed to the plan.

Meanwhile, there has been a lot of buzz about “AIP-98: A Community-First ApeCoin DAO Marketplace Proposal – Brand Decision” by Snag Solutions. Additionally, 99.73 percent of voters support the initiative, while just 0.27% are opposed to it. The cost savings compared to Magic Eden’s plan is 50%.

In addition, from September 16-22, the ApeCoin community will vote on “AIP-87: NFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collections – Ecosystem Fund Allocation.” The proposal’s proposed market would include NFT collections from Yuga Labs and Otherside Partners.

The developers want to integrate intellectual property features with the NFTs, and have already created a marketplace (apecoin.x.xyz). There were 56.66 percent of those who voted “no” on the plan, while 43.34 percent voted “yes.”

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