The Bored Ape Yacht Club community has an NFT marketplace

Users who own tokens from the Bored Ape Yacht Club collection have received their own marketplace where they can exchange, sell and buy non-fungible tokens. The news came from the first source in the person of the developer of the project, Zack Hirwagen.

In addition to the fact that it will be possible to buy and sell tokens of the Bored Ape Yacht Club and Otherside NFT collections on this marketplace, it will also be possible to send ApeCoin coins for staking with a daily reward on the platform. The site introduced a commission of 0.5% for each transaction that used Ethereum or 0.25% if ApeCoin was used for the transaction.

All commission money received from Zack Hirwagen's claims will be sent to a collective crypto wallet that will help sponsor the ApeCoin DAO community initiative. In addition, the royalties of NFT collection creators will be 2.5%.

The ApeCoin DAO community was formed a long time ago and has repeatedly made joint decisions. The ApeCoin DAO previously approved a write-off of $150,000 worth of ApeCoin equivalent in order to fund The Bored Ape Gazette news website. In addition, a proposal has been put forward to allocate $150,000 in ApeCoin equivalent in order to fund The Bored Ape Gazette for a year. The newspaper will cover news that in one way or another relate to the collections of the community. These NFT collections include Bored Ape Yacht Club, Mutant Apes and Kennel Club.

ApeCoin DAO wants to allocate funds every month in order to be able to sponsor an information publication. According to their idea, $10,000 per month will be sent to the monthly budget. In addition, authors will receive $100 for each article. The Bored Ape Gazette will feature between 3 and 5 pieces of news each day.

The editors in September reported that the market for non-fungible tokens has been experiencing rapid losses that have continued since April 2022. The Blue Chip Index, which tracks the performance of the most popular NFT collections, has been in a global downtrend since April, as is the entire cryptocurrency market.

If the indicators of the blue chip index are not very impressive, then the indicators of cash transactions can finally show a bad situation. In mid-March, the total capitalization of the top NFT collections included in the concept of “blue chips” exceeded $36,600,000,000. In mid-August, the total capitalization dropped to $22,500,000,000. Along with capitalization, trading volumes also dropped significantly. If at the beginning of the year traders carried out acts of purchase/sale of non-fungible tokens for an amount exceeding $2,000,000,000, now this mark exceeds $260,000,000. This data was shared by the NFTGo service, which tracks the statistics of non-fungible tokens.

Negative statistics can also be seen on marketplaces with non-fungible tokens. For example, in January on OpenSea it was traded for an amount exceeding $5,000,000,000, and already in August this figure decreased by almost 10 times and fell to $500,000,000. The negative didn't stop there. The volume of transactions also decreased significantly. Last December, the main marketplace for non-fungible tokens had over 5,000,000 transactions. In August 2022, the total amount of completed sales acts barely passed the mark of 1,000,000, which indicates a five-fold drop in the number of transactions.