Only from X: Introducing Marketplace-as-a-Service (MaaS)
We’d like to expand on the decentralized nature of our on-chain listings because what we provide may not be obvious at first glance. We are a Marketplace-as-a-Service, it’s not about sending users to x.xyz. This is possible because listings are on-chain which means our existing marketplace smart contracts can be integrated within any front end. This provides 4 key benefits/opportunities to ApeCoin DAO.
#1 Users do not need to transact on the x.xyz website.
- A front end can be built directly within ApeCoin.com (a new tab titled “marketplace”) or a standalone website.
- While not a direct “plug and play” integration, the X smart contracts can be connected to any front end.
- Because the listings are on-chain, it acts effectively as a white label
What benefit does this provide?
- The most obvious as it creates a primary access point for all things APE. Governance, staking and marketplace.
- This can be further expanded by ApeCoin DAO to integrate additional features for the community benefit (i.e. Fiat on-ramps or easy ways to buy $APE with crypto, etc…)
Fees for ApeCoin DAO & Community:
- As the X smart contracts are being used, marketplace fees (including discount for using $APE) would be earned by ApeCoin DAO along with the $APE holders and Otherworld NFT collection holders (based on current pre-proposal).
- Assuming this is all locked, this represents 71% of the total X token supply and fee emission claim.
- Volume = volume, meaning any fees earned on x.xyz (from any/all NFT sales) would also be emitted to ApeCoin DAO creating two ways to earn fees.
#2 Business Opportunities for ApeCoin DAO.
- Fees earned on the contract interaction, not the front end
- Expanding the use case of Project specific marketplaces to other NFT projects
- Advances adoption of $APE for NFT commerce
- Earns additional fees on incremental volume gained
How would this work?
Blue Chip NFT Projects
- Start with Otherside NFT collections — build either a marketplace, integrated directly within their existing homepage, or stand alone website.
- If BAYC needs their own marketplace, the assumption is that we’re not the only ones.
- Incremental revenue back to ApeCoin DAO via platform fee emissions as it’s still the same X smart contract (based on current pre-proposal).
- A revenue share can be provided back to the Blue Chip project — incentivising use of their marketplace and providing them with additional benefit.
- Easier user experience for their community as initial post-mint sales can be done directly within the project’s website.
- Increased opportunity to capture initial post-mint trading volume because minting and trading occur within the same website.
- Incremental revenue back to ApeCoin DAO via platform fee emissions as well as further opportunities to expose new communities to benefits of using $APE (based on current pre-proposal).
- A revenue share can be provided back to the New Project — incentivising use of their marketplace and provide them with additional benefit.
- Building out a marketplace on a dedicated website or within the Apecoin.com website means that a single BAYC listing would appear simultaneously on both that front end as well as x.xyz.
- If one front end goes down, users can immediately pivot to the other working site
- If both front ends go down, users can still interact with the smart contract directly
- No more fake collection risk — safest path to a project’s NFT collection, or BAYC ecosystem NFTs, will be the marketplace integrated on the website. Important particularly for blue-chip and “hot” mints.
- For new projects, the time-frame to be verified on a marketplace becomes moot as users can be directed to the project’s website.