ApeCoin could dump this marketplace after BAYC proposal voting begins
The ApeCoin [APE] Decentralized Autonomous Organization (DAO) has taken steps towards providing an APE-powered NFT marketplace. At press time, it was observed that voting had begun proper on all proposals submitted earlier.
Recall that there had been three proposals from three different entities centered around developing a marketplace for Bored Ape Yacht Club [BAYC]. First it was Solana [SOL]-based marketplace, Magic Eden putting its foot forward. Then, another came from Rarible. Yuga Labs itself also brought something forward. Now that voting has started, what has been the situation so far?
According to the current results, it was not going well for the MagicEden proposal. At the time of writing, the APE community had massively voted against it. While 85.48% were against it, only 14.52% voted in favor of the proposal.
However, the proposal by Snag Solutions seems to have won the hearts of the APE community. The current results showed that about 99.73% of the APE community voted in favor of the whitelist NFT development firm. It was no close call as only 505 members voted against the proposal, compared to 189,000 that supported the proposal.
As per the Yuga Labs/Otherside partnership, it has been a close combat so far. While 43.34% had voted in favor, 56.66% were against it.
With voting up, BAYC seemed to prefer the downside. According to CryptoSlam, BAYC’s performance in the last 24 hours was nothing to be excited about. Despite a $956,045 sales volume, BAYC lost the top and was third with a 24.64% decline in trading volume.
RENGA and Sorare maintained solid positions above the collection as they made over $1 million in sales volume in the same timeframe.
Source: CryptoQuant
As for its governance token, APE, it seemed like a
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