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ApeCoin Community Soon Gets Separate BAYC NFT Marketplace

16-Sep-2022 By: Rohit Tripathi
ApeCoin Community So

The ApeCoin community is voting on three proposals to establish 

A separate NFT marketplace for Apes powered by ApeCoin. 

Magic Eden, an NFT marketplace, previously proposed establishing the ApeCoinDAO marketplace for the ApeCoin community. The proposal aims to reduce transaction costs, improve user experience, and boost APE utility.

The proposal AIP 93: A Marketplace for Apes, by Apes, developed by Magic Eden - Brand Decision by Solana-based NFT marketplace Magic Eden is now up for voting from September 16-22.

The proposal aims to establish an ApeCoinDAO marketplace where ApeCoin (APE) holders may purchase and sell ApeCoinDAO NFTs such as BAYC, MAYC, BAKC, and Otherside Otherdeeds. It will have a discounted transaction fee of 0.75% with no cost to the DAO.

The community voted "against" Magic Eden's proposal to establish an NFT marketplace for the ApeCoin community. In fact, 85% of users voted against the proposal, garnering 99K APE. In contrast, nearly 15% voted in support of the proposal, garnering 17K APE. As a result, it implies that the community is against the proposal.

Meanwhile, Snag Solutions' AIP-98: A Community-First ApeCoin DAO Marketplace Proposal - Brand Decision has received a lot of attention from the community. Furthermore, the proposal has garnered 99.73% in support and 0.27% in opposition. The proposal is 50% less expensive than Magic Eden's proposal.

Proposal to Fund NFT Marketplace

From September 16 to 22, the ApeCoin community will also vote on the proposal "AIP-87: NFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collections - Ecosystem Fund Allocation." The proposal proposes to establish a marketplace for Yuga Labs and Otherside Partner NFT collections.

The developers have already established a marketplace,, and intend to add intellectual property aspects to the NFTs. The proposal garnered 56.66% votes in against and 43.34% votes in favor.

The ApeCoin community will vote on a proposal that benefits them, minimizes fees, and increases APE utility. At the time of writing, the APE price is trading at $4.88, down roughly 7% in the last 24 hours.

Read also: Only Two addresses control 46 Percent of all ETH’s PoS nodes

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