Rarible proposes free Bored Ape NFT Marketplace for ApeCoin users

Magic Eden’s pitch to build an exclusive Bored Ape Yacht Club NFT marketplace for ApeCoin community has some competition: marketplace protocol Rarible has launched its own proposal page for ApeCoin (APE) holders, undercutting Magic Eden with a no-fee offer.

Rare shared their suggestion page on Wednesday, pitch an ApeCoin-centric NFT platform that does not charge marketplace fees for NFTs listed naturally by holders. Powered by the open source Rarible Protocol, the marketplace will also aggregate listings from other notable marketplaces – including Open sea and Looks Weird– to increase liquidity.

The proposed marketplace will focus on NFT collections related to Yuga Labs’ Bored Ape ecosystem, including the original Bored Ape Yacht Club, Mutant Ape Yacht ClubBored Ape Kennel Club, and The other side.

In addition, ApeCoin DAO can vote on more projects to be included. ONE DAOor decentralized autonomous organization, is an online community created around common goals or interests, with membership often represented via tokens. ApeCoin holders are members of the ApeCoin DAO and can vote on proposals related to the ecosystem.

ApeCoin launched in March as Ethereum-based token meant to drive metaverse experiences and more Web3 applications, including Yuga Labs’ upcoming Otherside game.

The proposal details other features including fiat currency payments via MoonPay, dedicated support and the ability to place an offer that encompasses the entire collection. Rarible said it can launch the marketplace within four weeks of DAO approval at zero cost. It has also launched marketplaces for other NFT projects in the past, including V1 punks and Degenerate Ape Academy.

Magic Edens suggestionfiled August 9, proposed an ApeCoin marketplace with a 1.5% base marketplace fee, which can be reduced to 0.75% based on certain variables: 0.5% discount for purchases with ApeCoin, plus an additional 0.25% discount for users who owns an NFT from specific Bored Ape-related projects.

An NFT is a blockchain token that can represent ownership in an item. In the case of Bored Ape Yacht Club, each NFT represents one of 10,000 unique avatars, plus holders can use their own photos to create commercial projects. Bored Ape Yacht Club has relented more than $2.3 billion value of secondary trading volume to date.

Rarible is a long-standing Ethereum-centric NFT marketplace that has gradually expanded to other chains. Magic Eden, meanwhile, is the largest marketplace in the Solana ecosystem, and it launched support for Ethereum NFTs earlier this month.

So far, they are the biggest players proposing an exclusive NFT marketplace for ApeCoin users, but they are not alone. Snag Solutions, which is developing a white-label marketplace protocol, as well launched an NFT marketplace on August 9.

It has since adjusted the pitch, offering a 0.5% marketplace fee when NFTs are purchased with ETH, or 0.25% with APE. According to the proposal idea, 0.25% of all fees will be sent back to ApeCoin DAO’s treasury. Snag Solutions originally asked for $50,000 to cover development and audit fees, but has since offered to launch the platform at zero cost.

At this stage, all three proposals are at the concept stage. From there, they could be rewritten into a formal proposal and put to a vote. If successful, the ApeCoin community could have their own custom Bored Ape NFT marketplace in the near future.