The leading Solana-based NFT Marketplace Magic Eden is actively introducing new features and exploring non-fungible opportunities to strengthen its presence in web3.
Having just announced its expansion into the Ethereum market, Magic Eden has come up with a new offer, namely to create a Bored Ape Yacht Club marketplace for the ApeCoin (APE) community.
With the APE community in mind, the perhaps-to be ApeCoin marketplace is intended to provide the NFT holders of the Bored Ape NFTs with a bunch of advantages such as lower trading fees.
Based on the pitch, the proposed marketplace would present even lower seller’s fees than on Magic Eden’s own marketplace itself (2%), and way less lower than on OpenSea (2.5%). In addition, a 1.5% base fee could be cut down with a 0.5% discount for trades made in APE as well as the holders of Bored Ape Yacht Club, Mutant Ape Yacht Club, and Bored Ape Kennel Club NFTs could get another 0.25% discount.
However, that’s not all. One of the distinctive features of the marketplace would be an opportunity to bid on NFTs using both ETH and ApeCoin. Among other proposed features to be implemented later, there is a launchpad to create and distribute ApeCoin-related NFT projects and an ability to sell Yuga Labs merch.
“The pitch was inspired by the immense respect we have for the BAYC community and all of Yuga Labs’ IP communities,” said Tiffany Huang, Magic Eden’s content and marketing head. “We want this marketplace to be the first of a long-term relationship.”
As part of the proposal, Magic Eden has agreed to build the marketplace for free. By the way, the decision regarding this would be brought up for community discussion. The ApeCoin holders will have an opportunity to vote either for or against the plan, if it is brought up for a formal vote as an ApeCoin Improvement Proposal.
This marketplace is planned to be based on Magic Eden’s technology and be operated via the official ApeCoin website. Magic Eden claims that the marketplace could be launched in September if its proposal is accepted.
Being the most prominent and valuable NFT Project, Bored Ape Yacht Club doesn’t stop being of interest among various NFT platforms and companies in terms of collaborations and partnerships. Nevertheless, Magic Eden’s proposal seems to be truly meaningful, intended to skyrocket the growth of the project. Keeping an eye on the updates and final decision!