NFTs News

Magic Eden Submitted A Proposal To Build A NFT Marketplace For Apecoin

NFT Marketplace Magic Eden has submitted a proposal to the ApeCoin DAO to build a new trading market for APE holders to be able to buy and sell NFT at a lower transaction fee.
Magic Eden Submitted A Proposal To Build A NFT Marketplace For Apecoin 3

Magic Eden stated in a proposal posted on August 9 that the ApeCoin DAO is incurring quite substantial fees for trading on various NFT marketplaces and this does not appear to be of any value to its DAO members. Therefore, the platform wants to change that.

Magic Eden will create a brand new NFT trading marketplace for the ApeCoin DAO, significantly cutting fees and providing sustainable utility for ApeCoin through which the community can launch projects and ideas on their own.

The fee proposed by Magic Eden is 1.5% per transaction with a discount of 0.5% for all transactions made using APE and an additional discount of 0.25% for transactions made by collectors holding NFT Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC).

The proposal comes a week after Magic Eden announced it would expand to Ethereum. Last month, the platform made two significant developments when it successfully raised $130 million and established Magic Ventures, focusing on web3 gaming. Currently, it is the largest NFT marketplace on Solana, charging 2% for all transactions through its platform.

Magic Eden Submitted A Proposal To Build A NFT Marketplace For Apecoin 4

However, Magic Eden does not rule out this happening like every time in the past, so the platform side also makes possible proposals on dividing fees between itself and the DAO as well as adding fees a new feature that allows DAO members to launch their own projects, to contribute to further improvements to the Apecoin DAO.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

2 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

5 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

7 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

8 hours ago

This website uses cookies.