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Source: Сointеlеgrаph

ApeCoin (APE) holders in the US may be missing out on staking rewards after the US was added to the list of regions geo-blocked from using the upcoming APE staking service.

Blockchain infrastructure company Horizen Labs, which builds the site on behalf of the decentralized autonomous organization (DAO) ApeCoin, reported on ApeStake.io on Twitter in a Nov. “.

Canada, North Korea, Syria, Iran, Cuba, Russia and the Russian-controlled territories of Ukraine, Crimea, Donetsk and Luhansk are also on the blacklist.

There are likely ways to bypass geo-blocking. The update notes that the website is only an interface for interacting with an open-source Ethereum-based smart contract, with “several other” interfaces being created by parties such as exchanges and DeFi platforms.

Prominent Twitter user “Zeneca” has informed his 312,000 followers that those from the regions blocked by ApeStake.io will still be able to bid by interacting with the smart contract directly or using another interface without geoblocks. Those in blocked regions can also use a virtual private network (VPN) to spoof their location.

The decision to block US users is likely the result of an October Securities and Exchange Commission (SEC) investigation into APE creator Yuga Labs. The regulator is investigating whether the company’s non-fungible tokens (NFTs) act more like securities and subsequently violate federal laws.

Two Bored Ape NFTs sold for nearly $1 million each

Meanwhile, some Bored Monkeys are still selling at high prices even in the midst of crypto winter. An NFT from Yuga Labs’ Bored Ape Yacht Club (BAYC) flagship collection was sold for 800 ether (ETH), or almost $950,000 at the time of sale on November 23rd.

BAYC #232 was sold by Deepak Tapliydal to an NFT collector under the pseudonym “Keungz” who, according to his OpenSea profile, owns several Yuga Labs NFTs.

Tapliydal is the CEO of Web3 infrastructure company Chain and is famous for making it into the Guinness Book of World Records for purchasing the “Most Expensive NFT Collectible” after buying CryptoPunk #5822 for 8,000 ETH, or $23.7 million, on February 12th.

BAYC sale #232 was followed on November 24 by another BAYC sale #1268 between two unknown wallets for 780 ETH, or nearly $940,000 at the time of the sale.

The sales are significant as the NFTs were sold well above the collection’s current floor price, which has declined in recent months.

According to NFT Price Floor data, Bored Ape’s floor price at the time of writing is just under 63 ETH, or around $75,600, and is 80% lower in dollar terms from its May 1 all-time high of 144.9 ETH. , or over $391,000 at the time.

ApeCoin DAO Launches Marketplace

The DAO community, made up of ApeCoin holders, has launched its own marketplace for buying and selling NFTs from the Yuga Labs ecosystem.

The aptly named ApeCoin Marketplace, created by NFT infrastructure company Snag Solutions, launched on November 24th and supports transactions from BAYC, Mutant Ape Yacht Club, Bored Ape Kennel Club and Otherdeed NFT collections.

In a Nov. 24 Twitter thread, Snag Solutions CEO Zak Heerwagen said the marketplace “includes unique features” specifically for NFT communities, including the ability to staking APE.

According to Heerwagen, the market “respects the royalties, but also cuts the fees significantly.” A portion of 0.25% of each sale is stored in a multisig wallet and used to fund DAO initiatives.

Related: Industry expresses confidence in NFT space amid FTX collapse

Marketplace royalty support is due to the fact that some other NFT marketplaces, such as Solana-based Magic Eden (SOL) and Ethereum-based LooksRare, have stopped charging author royalties by default.

Others, such as OpenSea, have continued to introduce royalties and have even created a tool to assist NFT creators in enforcing royalties online, allowing them to blacklist the sale of their NFTs on royalty-free marketplaces.


Source: Сointеlеgrаph

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