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ApeCoin DAO releases first NFT Marketplace



ApeCoin DAO community has launched its first whitelabel NFT marketplace in partnership with Snags Solutions, a non-fungible token (NFT) infrastructure company. The Bored Ape Gazette shared the announcement on their Twitter Handle.

According to the details of the launch, the new platform offers services related to the Bored Ape Yacht Club and Otherside communities. A further breakdown reveals that there will be sales options for NFTs from Yuga Labs NFT collections such as BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherdeed for Otherside.

The ApeCoin team explained that NFT sellers who will be part of the platform are offered a transaction fee of .5% on ETH transactions and .25% on ApeCoin transactions while the platform retains .25% of each sale in a multi-signature wallet. The purpose of this is to have available resources for future initiatives by ApeCoin DAO.

ApeCoin staking and NFT metadata will be available 

Speaking about the development, the CEO of Snag Solutions, Zach Heerwagen, said there would be ApeCoin staking and NFT metadata integrations for users of the marketplace.

He also added that Snag is designed to support creators by making marketplaces less complex where royalties and fees are respected.

ApeCoin was created in March 2022 as an affiliated cryptocurrency for the Bored Ape Yacht Club community. Although the BAYC team is not part of the original creators of ApeCoin, holders of BAYC NFTs and Mutant Ape Yacht Club received the coin as an airdrop earlier this year.

While Yuga Labs have made no statement linking it with this new marketplace, BAYC said earlier this year that several projects under the Yuga Labs ecosystem would use Apecoin as  native currency for all its new projects starting with Benji Bananas by Animoca Brands

Read also;

SEC to Investigate Yuga Labs Over Unregistered Offerings

Blue Chip NFTs: What are they and Why are they Popular?

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