We all know how NFTs have tanked in the last few months. ApeCoin DAO has given us a few tips on how the NFT marketplace can come back and resurrect from the doldrums!
NFTs still have the best representation of digital art as tokens. They are the preservation of value the world still doesn’t get.
Digital art forms have a place in popular culture no matter what anyone thinks. They keep the millennials and Gen Z on their toes about everything Picasso, Van Goh, and everyone else wanted to say with their work.
This is why a launch of an OpenSea competitor intrigued us. We reached out to Alex McCurry to provide deeper insight into this. Here’s what he said and more!
Alex McCurry, CEO, at Solidity.io
How has the Bored Ape collection established NFTs as a cultural icon?
– Bored Ape Yacht Club and Yuga Labs have truly bridged the gap between Web3 technology and modern popular culture. By creating a community centered around culture, music, art, sports, business, gaming, and more, BAYC has amassed a collective of some of the most unique, creative, and impressive individuals in the world in their communities.
Why launch an exclusive marketplace for the ApeCoin DAO?
– ApeCoin DAO is part of AIP-98 a community-centric NFT marketplace. The goal of the marketplace is to create a true competitor to the major marketplace players and to return the massive amounts of royalty fees generated by the trading volume of these assets back to the community.
Please, can you explain how exactly ApeCoin DAO works?
– ApeCoin DAO is a decentralized organization focused on expanding the utility, adoption, and value appreciation of ApeCoin. In order to do this, the DAO allows the community to submit AIPs (APE improvement proposals).
What role did Solidity.io play in the marketplace’s development?
– Solidity.io conducted the full-stack audit of the marketplace and delivered on key product development and roadmap items for the marketplace.
Why choose a DAO as a corporate entity?
– The DAO was a strategic choice to decentralize the power and control of ApeCoin to the community versus a centralized organization.
What is the governance process like?
– Governance is complex initially but is relatively straightforward. Generally speaking, governance is focused on aligning the community values with the sets of proposals being put forward to the DAO. By understanding community sentiment and desires as well as the objectives of proposals and associated costs and requests, DAO members are able to make informed voting decisions.
Just how far will ApeCoin help in enabling NFT adoption?
– Myself and Solidity.io strongly believe ApeCoin will likely be one of the largest if not the largest token in the Web3 culture, gaming, entertainment, and technology industries. By bringing community and brand value I believe ApeCoin will drive massive adoption and attention to the NFT market more broadly.
What are the benefits of onboarding to ApeCoin DAO for the NFT community?
– Improved visibility to one of the largest DAOs in the industry, the opportunity to make proposals, and the ability to interact with and collaborate with the community.
How can NFT aficionados interact with the ApeCoin DAO Marketplace?
-Anyone can go to ApeCoinMarketplace.com and start browsing all of the collections we currently have available!
How will ApeCoin DAO Marketplace compete with OpenSea?
-By creating an Ape-centric platform and interface, the ApeCoin DAO marketplace plans to compete with Opensea and other major platforms by enabling additionally targeted and utility-focused features for Yuga and ApeCoin asset holders.
With the current dip in the markets, how will the project spark the interest of the NFT community?
-I believe the marketplace should inspire a new level of hope and excitement around web3 and the ecosystem more broadly. The community should know that great products are remaining to be built and with a focus on the most impressive community in all of Web3.
What separates ApeCoin DAO Marketplace from the rest of the pack?
– Unique metadata features, social features, and community-centric value adds. Additionally the marketplace fees are the lowest in the entire industry, offering marketplace aggregation for maximum liquidity, lowest prices, and lowest fees.
What led to the creation of ApeCoin DAO Marketplace as a concept?
– The community was voting on several proposals to get an ApeCoin marketplace when this proposal was thankfully the one that was accepted.
Are there other partners on the project? Please, can you tell us about them?
– Snag Solutions is the original author of the AIP and owner, Solidity.io was brought in to support snag as a full-stack blockchain solutions provider who could help support getting the product launch-ready, identify early security risks, and develop some unique features.
Can you provide insight into the pricing model that ApeCoin DAO Marketplace will deploy?
– The marketplace enables aggregation for listings for free and provides native listings at a .25% transaction fee.
How many smart-contract-enabled blockchains will the DAO work on?
– The DAO may choose to work on several smart contract-related blockchains. Solidity.io has worked closely with Polygon, Avalanche, Arbitrum, and other protocols to enable maximum compatibility and functionality across several projects.
What are the long-term goals of ApeCoin DAO Marketplace?
– To become the go-to marketplace for all Yuga Labs assets and community alignment and engagement.
Do you have any offers or expressions of interest from the big whales in the NFT space? Please, can you tell us about them?
– We have received several offers for strategic investments, acquisitions of certain products, and more from several whales and companies in the industry. We are open and excited to see what is in store!