Ape Reductions – Magic Eden, the largest marketplace established on Solana (SOL), wants to launch an NFT platform dedicated to the community Apecoin (APE).
APE: a really useful monkey currency
“The most prolific DAO in the history of the world is paying obscene fees to trade on a marketplace that returns no value to DAO members, period”: the rhetoric is aggressive, but Magic Eden wants to be offensive in clearly defining the problem to be solved.
On August 9, the company published on the Apecoin forum, a proposal to build a market place, which will allow holders of $APE tokens to buy and sell NFTs, at 0.75% transaction fee.
In detail, this rate comes from a “base commission” of 1.5%, reduced by 0.5% for transactions in APE, and an additional 0.25% for holders of NFTs from the Bored Yatch Club collections. .
Even without owning these NFTs, the transaction fees in APE for a user of this marketplace thus amount to half of the 2% transaction fees, which Magic Eden normally charges for all transactions carried out on its platform. .
Magic Eden campaigning for an Apecoin NFT platform
This ApeCoinDAO marketplace should therefore provide “ lasting utility at the APE, while offering the community a platform on which it can launch its projects. Magic Eden also wants to be a good prince: this market place will cost nothing to the DAO Apecoin.
The proposal must however receive the approval of the DAO, and the free could be the crucial argument. The governance body of the APE token launched earlier this year, has already received several proposals regarding the creation of a marketplace. None have received the green light yet.
In an attempt to snatch a YES, Magic Eden suggests future proposals that will allow create a source of income for the communitypossibly splitting the distribution of platform fees between the company and the Apecoin DAO.
If Magic Eden manages to obtain a membership vote, the launch of the first phase of its marketplace is scheduled for next September.
Magic Eden therefore wants to challenge the giants of the sector like OpenSea. It will then be a question of creating a market place conferring specific advantages on the holders of $APE. The publication of its proposal comes days after the Solana-based NFT platform announced support for non-fungible Ethereum (ETH) tokens.
Ready to trade NFTs on Solana with Magic Eden? First fill your wallet with ApeCoin. To do this, register without delay on the FTX reference crypto exchange platform. In addition, you benefit from a lifetime reduction on your trading fees (commercial link, see conditions on official website).