Magic Eden's plan to create a restricted Bored Ape Yacht Club NFT marketplace for the ApeCoin community is up against some opposition: Marketplace protocol Rarible has made its own proposal concept available to owners of ApeCoin (APE) with a zero-fee offer.
Rarible released its proposal concept on Wednesday, which is an NFT platform with an emphasis on ApeCoin that has no marketplace fees for NFTs that are listed natively by holders. The marketplace, which runs on the open-source Rarible Protocol, would also compile listings from other marketplaces like OpenSea and LooksRare to improve liquidity.
The planned platform would be focused on NFT collections connected to the Yuga Labs-created Bored Ape environment, such as Otherside, the Mutant Ape Yacht Club, the Bored Ape Kennel Club, and the Bored Ape Yacht Club.
The proposal also includes a number of other features, such as the ability to make a collection-wide offer, dedicated support, and fiat currency payments through MoonPay. Rarible stated that it may open the marketplace for free in four weeks after receiving DAO certification. It has also created marketplaces in the past for NFT programs like V1 Punks and Degenerate Ape Academy.
According to Magic Eden's proposal, which was submitted on August 9, an ApeCoin marketplace with a base marketplace fee of 1.5% could be reduced to 0.75% based on particular factors, including a 0.5% discount for users who use ApeCoin when making purchases and an additional 0.25% discount for users who have an NFT from particular Bored Ape-related projects.
The well-known NFT market Rarible concentrates on Ethereum and has gradually expanded to other chains. Magic Eden, the largest market in the Solana ecosystem, has only recently added support for Ethereum NFTs.
Both initiatives are at the concept stage at the moment. After then, they might be changed into a formal proposal and put to a vote. If it is successful, only the ApeCoin community would be able to use the Bored Ape NFT marketplace.
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