Short
- NFT marketplace Magic Eden has revealed a proposal to create an official Apcoin marketplace for Bored Apk Yacht Club NFT.
- Magic Eden rules the Solana NFT market and last week announced plans to expand into the larger Ethereum NFT space.
Chief solana NFT Marketplace magic eden Only Ethereum market entry announced A week ago and already it’s ready to serve the most renowned community in the space. Magic Eden unveiled an offer to build one today Bored Ape Yacht Club market for apcoin (APE) community.
according to offerThe planned ApeCoin marketplace—which will operate through the official ApeCoin website and based on Magic Eden’s technology—will offer some benefits to the bored monkey. NFT Holders with low trading fees.
“Magic Eden is going to ETH” L1, And the Apcoin DAO community is a great place to start – we are swinging for the fence,” told Magic Eden General Counsel Joe Doll. decrypt,
Magic Eden’s pitch includes the ability for collectors to bid on NFT using a combination of both ETH and ApeCoin, as well as discounts for users making purchases with APE. The proposed marketplace would offer lower sellers fees than Magic Eden’s own marketplace (2%), let alone leading Ethereum NFT Marketplace open sea (2.5%).
As per the proposal, the fee can be as low as 0.75% for sellers, with a 1.5% base fee that can be deducted with a 0.5% discount for trades made in APE, as well as 0.25 for holders of Bored Ape Yacht There may also be a % discount. club, Mutant Ape Yacht ClubAnd the bored ape Kennel Club NFT.
Doll said, “We feel that our sheer ability to execute with our efforts to connect with the Apcoin DAO community and ensure that their marketplace vision is heard and executed is what we need to do with any other marketplace in crypto.” separates from.”
4/ Instead of asking for $ in advance, we will manufacture @apecoin market for free.
We will dedicate resources in engineering, marketing and customer service to get this out of the ballpark.
Here some preliminary mock-ups: pic.twitter.com/Ndc4y72d8c
— Magic Eden (@MagicEden) 9 August 2022
Magic Eden has offered to build the market for free as part of the proposal, which will be considered by the community. If the app is put up for a formal vote in the form of a reform proposal (AIP), appcoin holders will be able to vote for or against the plan’s passage. Magic Eden claims it could deploy the market as early as September if the proposal is eventually passed.
Additional features may also be added down the line, including a Launchpad for creating and distributing new Apcoin-related NFT projects, as well as the ability to sell merchandise through the platform to bored app maker Yug Labs if it wants to. chooses to do so.
Magic Eden debuted last fall and has become the dominant player in the fast-growing Solana NFT market, consistently ordering lay and notching 90% or more of daily trading volume. $1.6 billion valuation in June Because it raised $130 million.
With its move into Ethereum, Magic Eden is taking a direct shot at OpenC, which is currently the top market in the NFT space. Bringing the bored app community onboard could help cement Magic Eden’s position in the Ethereum space.
Tiffany Huang, Head of Content and Marketing, Magic Eden, said, “The pitch was inspired by our immense respect for the BAYC community and all of the IP communities at Era Labs.” “We want this market to be the first in a long-term relationship.”
“We believe this positions our pitch to bring a strong value proposition to the Appcoin DAO community in the form of product creation, community support, and general app culture integration into our technology stack,” she said. “As we build on our development, we want this market to be co-created by the apes, for the apes, with minimal effort and no funding required from the community.”
NFT is a blockchain token that represents ownership in an item, such as profile pictures, artwork, collectibles and interactive video game items. The market is already almost done $20 billion worth of trading volume After growing to $25 billion so far in 2022, according to data from DappRadar whole 2021,
ApeCoin is an Ethereum-based token designed to power the growing Bor Ape yacht club ecosystem, including Metaverse apps and games. it was Launched in MarchRugged app with massive token allocation for free to NFT holders, and the price is fluctuate wildly since, enough . Feather over $7 per token Right now, it is over 40% in the last 30 days.
Management of the ApeCoin ecosystem a . Done through DAO, or decentralized autonomous organizations, token holders are able to vote on proposals that potentially benefit the community. A DAO is a crypto community united by a common goal or purpose, including the operation of a protocol, and membership is often represented by a token.
Previously, the blockchain network has made proposals to try and move off Ethereum’s Apcoin ecosystem. mainnet, rival network The avalanche made a pitch in Mayand Ethereum Scalping Network Irreversible X followed suit, No motion was considered for a formal vote, although the DAO did. Vote in favor of May ,[keeping] AppCoin within the Ethereum ecosystem.”
Bored Ape Yacht Club is one of the most valuable NFT projects on any blockchain, and the collection has so far generated secondary trading volume of over $2.3 billion per data. cryptoslam, Spinoff projects like Mutant Ape Yacht Club and Otherside Metaverse Game has also performed well, taking the collective trading tally of the franchise to over $5 billion so far.