ApeCoin DAO is launching its own NFT marketplace for monkey clubs and other acts.

OpenSea, the NFT marketplace giant, may soon face significant competition. ApeCoin DAO has announced that it will soon launch a new NFT marketplace that will sell NFTs from Mutant Ape Yacht Club, Bored Ape Yacht Club, Bored Ape Kennel Club, and NFTs from Otherdeed.

Since August, ApeCoin’s DAO has been talking about a bespoke marketplace and several companies have expressed interest in it. However, the ApeCoin community rejected MagicEden’s proposal and Rarible decided to withdraw it.

Finally, Zach Heerwagen and Jason Jong, the founders of Snag Solutions, managed to reach out to the ApeCoin DAO community and gain their support. Snag Solutions is currently closing its pre-seed funding round as it builds its Whitelabel marketplace for several NFT collections.

Recently, Bespoke Marketplaces, also popular as White Label Marketplaces, are gaining popularity and seeing renewed interest in other NFT collections. These marketplaces provide users with greater control over how their NFTs are traded.

In addition, white label marketplaces have lower transaction costs than traditional NFT marketplaces. They can also enforce royalties, offer collections of social tools and data, and reduce fake NFT scams.

Snag Solutions has worked for nearly 10 white label marketplaces to date. In September, they created a marketplace for Goblintown makers, Truth Labs. In addition, they have also worked on the NFT collections of Crypto Chicks and Pirates of the Metaverse.

What does ApeCoin DAO NFT Marketplace offer?

The ApeCoin DAO NFT Marketplace seeks to settle the issue of maker royalties and donate half of the merchant fee of each transaction to the ApeCoin DAO community.

For all NFT entries it collects from non-royalty marketplaces, ApeCoin DAO adds royalties to creators. However, there is a big debate in the crypto space about whether or not to enforce the fees. Royalties are usually an important source of income for NFT makers. But platforms with optional royalties have increased their market share in recent months.

NFT Marketplace ApeCoin DAO will have NFT metadata embedded on its dashboard alongside ApeCoin staking which will be launched soon. ApeCoin NFT Marketplace still does not support other Yuga Labs collections such as CryptoPunks or Meebits.

But Heerwagen said they are open to communicating with Yuga Labs.

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