The top Solana NFT marketplace, Magic Eden, recently entered the Ethereum market and is aiming to serve the most illustrious community in the sector. Magic Eden has proposed creating a Bored Ape Yacht Club marketplace for the ApeCoin (APE) community.
Holders of Bored Ape NFT would get a variety of advantages from the proposed ApeCoin marketplace, including less trading fees. Based on Magic Eden's technology, it would operate through the official ApeCoin website.
The ApeCoin DAO community is a good place to start, and Magic Eden is moving to ETH L1, according to Magic Eden General Counsel Joe Doll.
Collectors will be able to submit bids on NFTs using both ETH and ApeCoin as part of Magic Eden's pitch, and those who do so will get a discount. The proposed market, let alone the leading Ethereum NFT market OpenSea, will impose lower sellers' costs than Magic Eden's own market (2%) (2.5 percent ).
According to the proposal, the fees could be as low as 0.75 percent for vendors, with a basic fee of 1.5 percent that could be reduced by 0.5 percent for transactions conducted in APE and an additional 0.25 percent for owners of Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club NFTs.
We believe that what distinguishes us from other cryptocurrency marketplaces is our capacity to execute, paired with our attempts to engage with the ApeCoin DAO community and make sure that their market vision is understood and carried out.
The community will evaluate Magic Eden's offer to develop the marketplace for no charge as part of the proposal. If the plan is officially put to a vote as an ApeCoin Improvement Proposal, ApeCoin owners will have the choice to vote in favor of or against the plan's adoption (AIP). If the plan is ultimately accepted, Magic Eden states that the marketplace might go live as early as September.
In the future, further features might be added, including the ability for Bored Ape creator Yuga Labs to sell goods via the platform, a launchpad for developing and distributing new NFT projects related to ApeCoin, and more.
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