Zach Heerwagen, CEO of Snag Solutions, said that the platform offers features built specifically for the Bored Ape Yacht Club and Otherside communities!
Details For the NFT Marketplace
The ApeCoin DAO is a community governing body formed of ApeCoin holders. Recently, it launched its own white-label, NFT Market.
The new community marketplace, created by NFT infrastructure company Snag Solutions, lists NFTs for sale from Yuga Labs-owned NFT collections such as BAYC, Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherdeed.
Zach Heerwagen, CEO of Snag Solutions, said the platform offers “unique features built specifically for the BAYC and Otherside communities, including ApeCoin staking and NFT metadata integrations.”
Snag Solution was launched in July. He has previously created a white-label NFT marketplace for Truth Labs, the creator of Goblintown. The proposal to create the ApeCoin marketplace, written by Heerwagen, received 88% of the votes from the community.
This newly created platform offers a discounted fee structure to its sellers. As an example, it applies a discount of 0.5% on ETH transactions and 25% on ApeCoin transactions. Additionally, it holds 0.25% of every sale in the multi-signature wallet to fund its future DAO.
“Snag exists to support creators by unbundling marketplaces, and we’re excited to partner with the ApeCoin community to replace the status quo with a product that respects royalties while heavily reducing fees,” Heerwagen tweeted.
The fee structure of the NFT marketplace comes at a time when NFT marketplaces like Magic Eden and LookRare are removing creator royalties that put pressure on competitors like Opensea and X2Y2.
ApeCoin (APE) is an ERC-20 utility and governance token of the APE ecosystem. It empowers building a decentralized APE community at the forefront of Web 3.0. APE is managed by the ApeCoin DAO and supported by the APE Foundation. With APE, token holders can vote on governance proposals in the DAO and have access to special features of the APE ecosystem, such as games, events, and services. Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) NFT collections, has adopted APE as the primary token for all new products and services.
About Snag Solutions
It is a company that establishes project-owned market places for NFT collections.