NFTs News

Rarible Proposes To Build NFT Marketplace For Apecoin DAO

After Magic Eden, in the face of the heat from Bored Ape Yacht Club (BAYC), NFT marketplace Rarible officially made a proposal to introduce to ApeCoin DAO its vision of a platform-specific NFT marketplace.

Rarible made a proposal with the desire to build an NFT trading market dedicated to the ApeCoin DAO on August 18.

According to information proposed by Rarible, this new marketplace will be entirely hosted on ApeCoin.com, making available all the collectibles within the ApeCoinDAO ecosystem for trading users including BAYC, MAYC, BAKC, BACC, and any other collections managed by the DAO.

Besides, the platform will not charge the market, specifically 0% when trading NFT with APE or ETH, the lowest fee among all proposals made for ApeCoin DAO. Evgeniy Medvedev, Head of Partnerships at Rarible said:

“Bored Apes, and the whole Yuga ecosystem, is a crown jewel of NFT projects on Ethereum. We definitely want to be there.”

High transaction fees have led to strong demand from users for other intermediary third-party markets, but the hurdle here is the increasingly dense problem of scams.

As a result, many reputable NFT marketplaces such as these have started to offer exclusive services that help brands gain more leverage in their NFT sales and avoid selling counterfeits. Medvedev further shared:

“We want to reduce the number of scams in the space, and this is a way we can do it. You are also not depending on the centralized marketplaces which could delist your collection.”

Proposals will now be made through the ApeCoin DAO’s governance system. Magic Eden has also said that so far the response to their proposal has been really positive.

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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.