Crypto News

Just-In: ApeCoin (APE) Community Gets Its Separate BAYC NFT Marketplace

The ApeCoin community has three proposals up for voting to have a separate NFT marketplace for Apes powered by ApeCoin (APE).

Published by

Varinder Singh

Updated 20 May, 2025 | 08:10:49 AM UTC

Just-In: ApeCoin (APE) Community Gets Its Separate BAYC NFT Marketplace

The ApeCoin community has three proposals up for voting to have a separate NFT marketplace for Apes powered by ApeCoin (APE). NFT marketplace Magic Eden earlier proposed to build the ApeCoinDAO marketplace for the ApeCoin community to slash transaction fees, increase user experience, and increase APE utility.

ApeCoin Community Votes on 3 NFT Marketplace Proposals

Solana-based NFT marketplace Magic Eden’s proposal “AIP 93: A Marketplace for Apes, by Apes, built by Magic Eden – Brand Decision” is now open for voting from September 16-22.

The proposal aims to build the ApeCoinDAO marketplace for ApeCoin (APE) holders to buy and sell ApeCoinDAO NFTs including BAYC, MAYC, BAKC, and Otherside Otherdeeds. It will have discounted 0.75% transaction fee, with no cost to the DAO.

The community has voted “against” the proposal of Magic Eden to build an NFT marketplace for the ApeCoin community. In fact, 85% of users have voted against the proposal, receiving 99K APE. Whereas, nearly 15% have voted in favor of the proposal, receiving 17K APE. Therefore, it indicates the community is against the proposal.

Meanwhile, Snag Solutions’ “AIP-98: A Community-First ApeCoin DAO Marketplace Proposal – Brand Decision” has received major attention from the community. Also, the proposal has received 99.73% votes in favor and 0.27% votes against the proposal. The proposal is 50% less expensive than Magic Eden’s proposal.

Proposal to Fund NFT Marketplace

The ApeCoin community also voting on the proposal “AIP-87: NFT + IP Marketplace / Yuga Labs + Otherside Partner NFT Collections – Ecosystem Fund Allocation” from September 16-22. The proposal aims to build a marketplace for Yuga Labs and Otherside Partner NFT collections.

The developers have already built a marketplace, apecoin.x.xyz, and look to add intellectual property aspects to the NFTs. The proposal has received 56.66% “against” votes and 43.34% “in favor” votes.

The ApeCoin community will select a proposal that is in favor of them, reduces fees, and increase APE utility.

At the time of writing, the APE price is trading at $4.88, down nearly 7% in the last 24 hours.

Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by

Varinder Singh

Updated 20 May, 2025 | 08:10:49 AM

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.