NFTs News

ApeCoin DAO Launches New NFT Marketplace

ApeCoin DAO has unveiled its own white-label NFT marketplace.

The new community marketplace, created by NFT infrastructure provider Snag Solutions, has for sale NFTs from Yuga Labs-owned NFT collections such Otherdeed for Otherside, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), BAYC. Zach Heerwagen, CEO of Snag Solutions, announced the news on Twitter:

The community has been looking forward to a custom marketplace since August when numerous businesses expressed interest in creating one. Among these, Rarible withdrew its request, while Magic Eden was denied. X Marketplace, a different rival, too tried its luck but was unsuccessful.

The founders of Snag Solutions, Zach Heerwagen and Jason Jong, eventually gained enough traction to win the community’s support.

The NFT marketplace also provides vendors with a scaled-back cost structure. 5% transaction fees for ETH transactions. On ApeCoin transactions and holding, there are 25% fees.

To create a positive feedback loop for ApeCoin holders, 25% of each sale in a multi-signature wallet will be used to finance future decentralized autonomous organization (DAO) initiatives.

Snag Solutions created a marketplace for Goblintown makers Truth Labs in September. Additionally, it has been tested with the NFT collections for Crypto Chicks and Pirates of the Metaverse. Heerwagen estimated that the company has currently worked on ten white-label marketplaces in total.

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 us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

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.