Proposal Name: ApeCoin DAO Marketplace via NFT Embed 6, provided by Graviton 2 and powered by Universe 1.
Proposal Category: Brand Decision
With NFT Embed, ApeCoin DAO can own the marketplace of choice for ecosystem assets and other curated projects. NFT Embed is a free tool from Graviton, providing Shopify and Stripe functionality for NFTs. NFT Embed is free to use; Graviton will deploy an initial marketplace for ApeCoin DAO.
Marketplace fee: 0.30%, including a 0.30% base fee and a 0.00% finder’s fee. The finder’s fee amount and recipient is customizable, by collection, and can be ‘turned on’ when ApeCoin DAO has infrastructure and processes to accept revenue.
NFT Embed is powered by Universe’s decentralized, open-source, audited 1 marketplace that supports any collection and major tokens including $APE. Building with trustless, customizable solutions mitigates counter-party risks and compounds economic benefits attributable to marketplace ownership.
ApeCoin DAO enables a self-sustaining ecosystem by deploying a marketplace via NFT Embed.
- ApeCoin DAO can ‘turn on’ finder’s fee revenues when ApeCoin DAO establishes processes and procedures for revenue flows. Based on the initially proposed 0.20% finder’s fee, ApeCoin DAO would have generated roughly $10 million of revenue to date.[FN1]
- Community savings. Based on the proposed 0.30% marketplace fee, the community saves significant funds.
- Trustless, customizable solutions. Marketplace ownership mitigates counter-party risks of hosted solutions while enabling strategic growth opportunities and brand development. These opportunities are discussed more in III. Rationale.
NFT Embed is a powerful marketing tool. The curated growth opportunities are endless. This zero-cost solution takes minutes to deploy on our domain.
A marketplace is more than $APE utility. It is a growth engine for our brand. With NFT Embed, we lay the foundation for exponential growth starting now.
In the short-term, our marketplace is curated for ecosystem assets. NFT Embed is integrating with reservoir and gem, ensuring ensure deep marketplace liquidity. This competitive solution drives user acquisition and retention and begins to change marketplace habits engrained in web3 natives.
Image I – ApeCoin DAO Marketplace with NFT Embed, BAYC
In the medium and long-term, NFT Embed enables ApeCoin DAO to pursue strategic growth opportunities, empower our community, support philanthropic causes, and expand utility for $APE.
- Strategic opportunities. ApeCoin DAO should support projects building on Improbable 1. As an early adopter on this interoperable platform, we are positioned to capture attention and become the marketplace of choice for all projects launching on Improbable. Users generally prefer a single-solution and may be unaware of or too risk averse to use other third-party marketplaces, perfect for market capture.
- Community empowerment. ApeCoin DAO should support creators building with ecosystem IP. For example, ApeCoin DAO can support Jenkins the Valet: The Writer’s Room by embedding the collection into our marketplace and directing the referral fee to Jenkins or otherwise setting it to zero.
- Philanthropic goodwill. ApeCoin DAO can periodically or consistently route finder’s fees to philanthropic endeavors supported by the community. For example, ApeCoin DAO can support ecosystem initiatives including the Jane Goodall Legacy Foundation, @apefather’s good deeds idea, @maariab’s idea in AIP-96 with support from @azeem from Gitcoin, and/or consider options discussed by members of ApeCoin DAO here. More broadly, we could follow in Universe’s footsteps and support lobbying efforts that fight for better laws and policies surrounding cryptocurrency 1.
- $APE utility. Although outside the scope of this proposal, ApeCoin DAO should consider an $APE staking module that remits finder’s fees directly to stakers (potentially acting as membership to a marketplace subDAO / working group). One answer to @joshthebeast24’s question: What can I do with my Ape Coin while the market is down?
Further, community members, affiliated artists, news publications, or even independent bloggers can use NFT Embed to support their own $APE powered projects or ecosystem projects with ease. For example, Jenkins can launch a marketplace on its site (in addition to linking to OpenSea), earning finder’s fees and growing the brand.
As demonstrated, the finder’s fee can incentivize or support any collection or cause with ease. We can use this lever to offer benefits to genesis collections or weight finder’s fees based on $APE allocations. And this lever can mitigate risks attributable to marketplace revenue. See IX. Marketplace Revenue: Risks and Alternatives.
Further, our single marketplace unifies ecosystem IP and compliments other AIPs, including @mistaken_president’s idea in AIP-69 and @wizav.eth’s initiative with ApeClub.
Furthermore, a decentralized marketplace drives safety and security to private sales and more broadly the industry. ApeCoin DAO can and should lead this initiative by leveraging the power of NFT Embed. Become a best practice.
NFT Embed is a competitive offering.@redvulkan posted an impartial comparison of marketplace AIPs based on an earlier draft here. One point of clarity: this is a zero-cost proposal.
The teams at Universe and Graviton are 35+ strong and have vast experience building in web3. They are supported by numerous advisors and other contributors (e.g., Aaron McDonald, Kain Warwick, Kieran Warwick, Santiago R. Santos 1, Tommy Shaughnessy, DeFi Dad, and many more).
Universe and Graviton are multi-discipline builders. For example, apart from the marketplace, Universe has built a custom bridge to polygon and launched a mobile game on iOS. Graviton launched a web3 streaming platform on Arbitrum in conjunction with Livepeer. BarnBridge migrated its DAO from mainnet to Arbitrum and has partnered with Aave.
There is tremendous talent backing NFT Embed. Talent ApeCoin DAO can trust.
Collectively, NFT Embed is a significant step-forward in delivering on our collective responsibility to leave everything better than we found it. This free solution can be deployed within minutes and was built by members of ApeCoin DAO.
We should vote to support this excellent value proposition built by and for our community.
IV. Key terms
“$APE+” means $APE and other ERC-20 supported by Universe.
“Ecosystem assets” means BAYC, BAKC, Serums, MAYC, Otherside NFTs, and Sewer Pass and related collections (provided such collection(s) are released before the marketplace is live).
“Gem” means gem.xyz, an NFT aggregator.
“Graviton” means graviton.xyz, creator of web3 / NFT tools, services, and platforms for creators and fans to thrive together.
“NFT Embed” means the product as described on nftembed.org 2, provided by Graviton and powered by Universe.
“Reservoir” means reservoir.tools, provider of open and permissionless access to aggregated NFT liquidity with complete API for building NFT marketplaces and applications.
“Universe” means universe.xyz, a community driven and royalty enabled NFT protocol.
“Website” generally includes any website that supports iFrame embeds.
NFT Embed is a fully customizable widget that allows you to display and sell NFTs on any website, complete with marketplace functionality and wallet connection out of the box. NFT Embed code is compatible with web builders that support iFrame embeds, such as Webflow, Shopify, Squarespace, and Wordpress.
VI. Steps to Implement
NFT Embed Documentation 1: How to Use NFT Embed
Universe Medium Article: Universe Protocol Pivot? (July 27, 2022) with instructional ivideo
Graviton Medium Article: How to Sell NFTs From Your Website in 5 Minutes (Free Embed Code) (August 3, 2022)
Universe Medium Article: The Universe Expands: Embed NFT Collections Today (August 15, 2022)
Arweave News Article 1: How To Easily Embed NFT Sales Into Your Website Using Universe (August 29, 2022)
NFT Embed is free to use and designed for simplicity. To deploy:
1. Open your website workspace 2. Find an NFT or collection you’d like to embed on a webpage. 3. The code you need for your webpage is on the left sidebar of [nftembed.org 2](http://nftembed.org/); complete the inputs. a. Set-up collection royalties [here](http://royalties.nftembed.org/). b. Set-up preferred NFT Embed options, including the finder’s fee. c. Tip: Enable custom styling to match the aesthetic of your project d. Examples: [BAYC 3](https://www.nftembed.org/collection/0xBC4CA0EdA7647A8aB7C2061c2E118A18a936f13D/), [MAYC 3](https://www.nftembed.org/collection/0x60E4d786628Fea6478F785A6d7e704777c86a7c6/), [Serum](https://www.nftembed.org/collection/0x22c36BfdCef207F9c0CC941936eff94D4246d14A/), [BAKC 2](https://www.nftembed.org/collection/0xb932a70A57673d89f4acfFBE830E8ed7f75Fb9e0/), [Otherside](https://www.nftembed.org/collection/0x34d85c9CDeB23FA97cb08333b511ac86E1C4E258/), [Jenkins 2](https://www.nftembed.org/collection/0x880644ddF208E471C6f2230d31f9027578FA6FcC/). 4. Select Copy 5. Paste the widget code into your website 6. Go live
Image 2 – NFT Embed Example - BAYC w/ inputs, 0.20% finder’s fee
Image 3 – NFT Embed Example - MAYC w/ Custom Style
As the marketplace functionality and wallet connection is fully integrated into your platform, you have full control over your brand image and the customer experience.
Upon approval, the author understands that Graviton has committed to initially providing and managing a domain for this marketplace, which will be communicated to ApeCoin DAO upon release. The marketplace will support Ecosystem assets (for those collections that are released before the marketplace is live), as defined, and launch with the 0.30% marketplace fee and 0% finder’s fee.
VIII. Overall Cost
NFT Embed is free to use.
Again, upon approval, Graviton has committed to providing and managing a domain for this marketplace, which will be communicated to ApeCoin DAO upon release. The marketplace will support Ecosystem assets (for those collections that are released before the marketplace is live), as defined, and launch with the 0.30% marketplace fee and 0% finder’s fee.
ApeCoin DAO can establish the same functionality at any point in time on its own domain, should ApeCoin DAO so choose. ApeCoin DAO can also curate other collections, add finder’s fees, and build on top of NFT Embed functionality should ApeCoin DAO so choose. Graviton, at its discretion, can provide and manage the marketplace and future feature requests from the community provided ApeCoin DAO chooses to fund these services.
IX. Marketplace Revenue: Risks and Alternatives
ApeCoin DAO cannot accept revenue or diversify its treasury because we lack foundational infrastructure, processes and procedures. Therefore, the initially proposed finder’s fee is not without risk and has been set to 0.00% for purposes of this AIP. These issues are discussed by this author here 2, here 1 and here 1, amongst other places.*
Again, a marketplace is more than just $APE utility. It is a growth engine for our brand. At this juncture, ApeCoin DAO should pursue a marketplace approach that maximizes brand growth and minimizes risks.
Thank you for your consideration.
NFT Embed Twitter 1.
Graviton and Universe share a discord.
FN1. With an example 0.20% finder’s fee and a marketplace fee of 0.30%, the DAO earns 0.20% and the community saves 2.00% on every sale as compared to OpenSea. The $amounts used in the body are derived by applying these percentages to sales volume found here (as of September 24, 2022).
Disclosure: the author of this AIP holds $xyz and is a member of the Universe DAO, but otherwise has no other financial affiliation with any parties mentioned and is not being compensated in any manner for proposing this idea.