Magic Eden’s Bold Move to Conquer Ethereum NFT Space: Proposal to Build Marketplace Exclusively for ApeCoin

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Magic Eden is offering to build the NFT marketplace for free, and set fees at 0.75% per trade.
Visions of Magic Apes
Leading Solana digital asset marketplace Magic Eden is proposing to build a dedicated NFT marketplace for Apecoin that will slash fees, provide utility for $APE and support Ape community projects.
🧵/ gm apes.
— Magic Eden 🪄 (@MagicEden) August 9, 2022
Heard you’re looking for a marketplace.
We think we can help 🪄
Here's our vision for the best marketplace for apes by apes, powered by $APE on the @apecoin domain, with rewards back to the community 👇🏼 pic.twitter.com/NBGXqn3GSm
Magic Eden proposed fee is 0.75% per transaction – starting at a base of 1.5%, with a discount of 0.5% for all transactions made with $APE, and an additional discount of 0.25% for transactions made by users holding Non-Fungible Tokens (NFTs) from collections by Bored Ape Yacht Club, Mutant Ape Yacht Club and Bored Ape Kennel Club.
“Why should apes collab with Magic Eden? We are the most innovative marketplace and ship fast. We have resources to support apes’ needs across eng, customer service, marketing, etc. We want to deliver value back to holders and build the marketplace for free,” the Magic Eden Development Team said on Twitter.
The proposal comes a week after Magic Eden announced its expansion to Ethereum. Last month, Magic Eden made two significant developments when it successfully raised $130 million and established Magic Ventures, focusing on Web3 gaming. Magic Eden is the largest NFT marketplace on Solana, charging 2% for all transactions through its platform.
Check out this Web3Wire article to learn how to buy NFTs on Magic Eden.
Since its inception, ApeCoin DAO has received a series of proposals similar to Magic Eden to create a more favorable trading environment for $APE in terms of costs, especially after the controversial NFT Otherdeed land sale in the Otherside metaverse project caused Ethereum block explorer site Etherscan to crash on May 1.
Shortly afterward, the ApeCoin DAO conducted a vote on whether $APE should move to work on a blockchain other than Ethereum, but the result ultimately failed as the majority of the community still chose to stay on Ethereum.
Magic Eden’s proposed marketplace would feature ETH/APE bidding.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Ice Network Releases Whitepaper: Here’s What You Need to Know

The Whitepaper details Ice Network’s components, including tokenomics and more.
Ice Network, a mobile mining blockchain platform, has recently made its long-awaited whitepaper available to its user base, referred to as Snowmen. The whitepaper was released to the public on September 28.
🎉 Exciting news! 🎉 Our Whitepaper is now LIVE! 📄 Access it directly from the app under the news section. 📲
— Ice: Decentralized Future (@ice_blockchain) September 28, 2023
New to Ice? Our invitation page has a fresh look and is packed with all the necessary info, making it easier than ever to dive in! 🚀🤓
But that's not all! We've…
For users eager to access the document, it is available through the Android application in the news section. The protocol has further confirmed that an iOS version will be released for iPhone users soon after confirming its submission on the Appstore store, which ostensibly not yet been accepted.
The whitepaper offers a comprehensive insight into the Ice Open Network (ION), providing information about various components of this mining blockchain. These components include IceID, IceConnect, IceNet, IceVault, and IceQuery. Additionally, the whitepaper delves into the intricacies of Decentralized Community Governance and Tokenomics.
Components of Ice Network
Here’s a quick overview of the components, according to the document:
IceID: IceID is the network’s decentralized digital identity designed to bridge the gap between real-world use cases and blockchain technology. The IceID allows ION-based and other Decentralized Applications (dApps) to interact with verified and trusted users while protecting their personal identification data with enhanced security and privacy measures.
“By decentralizing key aspects of digital identity management – such as data storage and access control – users can decide which dApps can access their data, which attributes are accessed, when they are accessed, and for what purpose,” the document reads.
IceConnect: Ice Network refers to this as “Decentralized Social Media,” aiming to promote information accessibility, limit censorship, and give authority over the spread of information to users.
IceNet: This is the blockchain’s Decentralized Proxy and Content Delivery Network. IceNet was introduced to give users “digital freedom in an era of increasing censorship.” With the service, Ice users can deliver uninterrupted content with privacy. Further, IceNet offers dApps and users secure, swift, and continuous access to content.
IceVault: IceVault is the network’s Decentralized Storage, designed to offer users an alternative to traditional cloud storage providers. Ice Network wrote that the IceVault “provides an infrastructure with reduced risk of hacks, unauthorized access, or data breaches.”
IceQuery: This is the last component, the Decentralized Database, created to provide a transparent, trustworthy, and secure database system for dApps building on the ION ecosystem.
Ice Network aims to provide a comprehensive solution for dApps, data management, and digital identity by combining all components into its platform.
“By integrating these features into a single, scalable blockchain infrastructure capable of handling millions of requests per second and catering to billions of users, the Ice Open Network aims to provide a comprehensive solution for decentralized applications, data management, and digital identity. This positions ION at the forefront of a new, user-centric digital landscape,” Ice wrote.
Building on TON’s Foundation
According to the whitepaper abstract, ION is building upon the foundation of The Open Network (TON) blockchain. Its primary goal is to establish an ecosystem of decentralized services that encourage active participation and genuine content creation. This ecosystem is designed to reward contributors and foster the development of authentic content.
The release of Ice Network's whitepaper is a significant development for the Ice ecosystem, offering a detailed and transparent overview of the platform's key components and objectives.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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