There are three proposals open to be voted on so there can be a different marketplace for the Ape NFTs. The Magic Eden NFT made a proposal to create an ApeCoin DAO, a marketplace that would be used by the community of ApeCoin users. It is designed to cut down transaction charges, improve the platform’s user experience, and also increase the utility of the APE token.

Defining the Agenda

Magic Eden as a marketplace is based on the Solana blockchain.  The AIP 93 marketplace it proposes for Ape has opened for the community to vote on a decision. The duration of the votes lasts from the 16th to the 22nd of September.

The Magic Eden proposal has the goal of building the ApeCoin DAO. It is an exclusive marketplace for ApeCoin users where they can buy and sell their NFTs which include the MAYC, BAYC, BACK, as well as the Otherside deeds. The marketplace will offer a discount of 0.75% on their transaction charges, and no further charges attached to the DAO.

The community had initially voted not to have the Magic Eden proposal to create the NFT marketplace for ApeCoin executed. As a matter of fact, about 85% of the APE community voted not to have the proposal implemented, as it received 99,000 APE. Meanwhile, about 15% of the community voted to approve the proposal, and it received 17,000 APE.

It, thus, translated to the community being against having the proposal. But then, another proposal from Snag Solutions, which is a community centered ApeCoin marketplace proposal, was able to get a lot of attention from the Ape community. The said proposal gathered 99.73% of the vote cast in its favor while 0.27% of the votes were against it.

Time to Make Critical Decision

The Snag Solutions proposal for the ApeCoin marketplace is up to 50% cheaper than that presented by Magic Eden.

The Ape community will also be voting on another proposal concerning Yuga Labs and Otherside NFTs, as well as fund allocation in the ecosystem. The vote will also span from the 16th to the 22nd of September. The said proposal’s main goal is to create another marketplace for Otherside NFTs and Yuga Labs.

Developers working on the marketplace have already built it and they are currently looking forward to incorporating intellectual properties into the NFTs that would be traded on it. Although, as of now, the proposal has gotten 56.66% of the total votes cast against it and 43.34% for it.

The Ape community will vote for proposals based on how much it favors them, how it cuts down transaction charges, and how far it aids ApeCoin’s utility.

As of the time of this report, APE trades at $4.88, going down by almost 7% over 24 hours.