ApeCoin DAO, a community-led governing body made up of ApeCoin holders, has launched its own white-label NFT marketplace.
ApeCoin, the Ethereum-based governance and utility token used within the Bored Ape Yacht Club (BAYC)-linked APE ecosystem, launched in March.
Built by NFT infrastructure company Snag Solutions, the new community marketplace lists for-sale NFTs from Yuga Labs-owned NFT collections like BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC) and Otherdeed for Otherside.
Zach Heerwagen, CEO of Snag Solutions, said the Marketplace offers “unique features built specifically for the BAYC and Otherside communities, including ApeCoin staking and NFT metadata integrations.”
The platform also offers a reduced-fee structure for sellers – .5% fees on ETH transactions and .25% fees on ApeCoin transactions – and holds .25% of each sale in a multi-signature wallet to fund future decentralized autonomous organization (DAO) initiatives, creating a benefit loop for ApeCoin holders.
“Snag exists to support creators by unbundling marketplaces, and we’re excited to partner with the ApeCoin community to replace the status quo with a product that respects royalties while heavily reducing fees,” Heerwagen tweeted.
