ApeCoin DAO Launches NFT Marketplace exclusively for Apes and Otherdeeds

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2022-11-28 20:47:37

The white label market for the Ape community officially launched today (November 24). The creators, Snag Solutions, moved ahead of the likes of Magic Eden and Rarible to build the platform after several companies approached the ApeCoin DAO.

ApeCoin DAO is having a new NFT marketplace that will sell Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club and Otherdeed NFT

In fact, since August, the community has been anticipating an NFT exchange to be announced, especially after this was suggested by a number of interested companies. Among them, Magic Eden’s proposal was rejected and Rarible withdrew his proposal. Another candidate, X Marketplace, also joined but was unsuccessful.

And finally, a two-man team consisting of Zach Heerwagen and Jason Jong, the founders of Snag Solutions, had enough traction to win community support.

The startup, which launched in July and is currently closing a pre-seed funding round, builds a white label marketplace for NFT collections. The pre-order market, often referred to as the white label or white glove market, is receiving growing attention as publishers of NFT collections seek more control over how they are delivered. translate their NFT. In addition to being able to offer lower transaction fees than many traditional NFT marketplaces and enforcing royalties, they also provide data and social tools for the collection, as well as help prevent buyers from being scammed. by fake NFTs.

In September, Snag Solutions created a marketplace for Goblintown Truth Labs makers. It has also worked with the Crypto Chicks and Pirates of the Metaverse NFT collections. In total, Heerwagen said the company has worked on about ten white-label markets to date.

Royalties paid to creators

The new marketplace will respect creators’ royalties and transfer half of the merchant fees for each transaction back to the ApeCoin DAO community. For listings that the platform aggregates from non-copyrighted enforcement marketplaces, it will add a royalty fee payable to the creator.

However, whether royalties should be enforced continues to be a major debate in the NFT space. They are the main source of creator income, but platforms where royalties are optional have increased their market share over the past few months.

It is a white label marketplace built specifically for the DAO, and it also has a built-in NFT metadata on the dashboard and an ApeCoin staking feature coming soon.

The new ApeCoin Marketplace currently does not support other collections of Yuga Labs Meebits, CryptoPunks or the new 10KTF created by Beeple. Like the ApeCoin DAO itself, it is also not officially affiliated with the company.

However, Heerwagen says that lines of communication have been opened with Yuga and that he has spoken with the founders.

Bored Ape Yacht Club, Mutant Ape Yacht Club and Otherdeed are the second, third and fourth most popular NFT collections of all time by volume. Yuga Labs itself is valued at $4 billion.

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