ApeCoin DAO Debuts its NFT Marketplace; Sizzles Up Competition for OpenSea, MagicEden

Jun 12, 2023

The development was confirmed on Twitter by Zach Heerwagen, the CEO of Snag Solutions.

ApeCoin DAO has announced the launch of its own NFT marketplace amid dwindling sales being recorded by the NFT sector. The ApeCoin DAO is a community-led governing body made of ApeCoin holders. ApeCoin's marketplace for digital collectibles has been designed by NFT infrastructure firm Snag Solutions. In a bid to attract engagement on its platform, the new NFT marketplace is offering an operational structure with reduction in associated fees. This launch has intensified competition in the NFT sector for established players like OpenSea, MagicEden, and RooksRare.

For sellers, the platform has decided to offer a 0.5 percent fee on Ether transactions and 0.25 percent on ApeCoin transactions. It will also retain 0.25 percent from each sale.

The development was confirmed on Twitter by Zach Heerwagen, the CEO of Snag Solutions.

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Source - https://www.gadgets360.com/cryptocurrency/news/apecoin-dao-debuts-nft-marketplace-competition-opensea-magiceden-3549909