US-based ApeCoin (APE) holders may miss out on staking rewards after the US is added to the list of geographically blocked regions for future use of the APE staking service.
Horizen Labs, a blockchain infrastructure company building sites on behalf of ApeCoin’s Decentralized Autonomous Organization (DAO), revealed the news in a November 24 Twitter update about ApeStake.io, stating: says. There are no good alternatives. “
Ape Staking update: Thanks to our talented community developers for their helpful improvements. Due to a slight delay due to the Bug Bounty AIP, he shortened the prepayment period by one week in order to maintain the original 12/12 operation. Alternate front-end site is up and running. See card. pic.twitter.com/mgmP7X3SwQ
— Horizen Labs (@HorizenLabs) November 24, 2022
Also included in the block list are the Russian-controlled territories of Canada, North Korea, Syria, Iran, Cuba, Russia, Ukraine, Crimea, Donetsk, and Luhansk.
There are several ways to avoid geoblocks. The update states that the website is merely an interface for interacting with Ethereum-based open-source smart contracts, with “several other” interfaces being created by parties such as exchanges and DeFi platforms.
Famous Twitter user “Zeneca” Said Followers in geo-blocked regions by ApeStake.io can continue to stake by working directly with the smart contract or using another interface without geo-blocking. People in blocked regions can also use a virtual private network (VPN) to disguise their location.
The decision to block US users could be the result of a US Securities and Exchange Commission (SEC) investigation into APE creator Yuga Labs in October. Regulators are investigating whether the company’s non-fungible tokens (NFTs) act like securities and subsequently violate federal law.
Two Bored Ape NFTs sell for around $1 million each
On the other hand, even in the middle of Crypto Winter, some Bored Ape are still trading high. NFTs from Yuga Labs flagship Bored Ape Yacht Club (BAYC) collection sold At 800 Ether (ETH), it will be around $950,000 at the time of sale on November 23rd.
BAYC #232 has been sold to pseudonymous NFT collector ‘Keungz’ — he appears to have multiple Yuga Labs NFTs, according to OpenSea profile — By Deepak Tapridal.
— Keungz ❤️ Memeland ☠️ YGPZ ♀️ (@keung) November 23, 2022
Thapliydal, CEO of Web3 infrastructure company Chain, holds a Guinness World Record for “Most Expensive NFT Collectible” after buying CryptoPunk #5822 for 8,000 ETH ($23.7 million) on February 12th. Made famous by creating it.
Following the sale of BAYC #232, another BAYC #1268 between two unidentified wallets for 780 ETH on November 24th, or almost $940,000 at the time of sale.
Sales increased significantly as the NFT sold well above the collection’s current lowest prices, which have fallen over the past few months.
according to data Bored Ape’s lowest price at the time of writing was just under 63 ETH, or about $75,600, according to the NFT Price Floor, down 80% in US dollars from its May 1 high of 144.9 ETH or above. increase. $391,000 at the time.
ApeCoin DAO Launches Marketplace
A community-driven DAO composed of ApeCoin holders has launched its own marketplace to buy and sell NFTs from the Yuga Labs ecosystem.
The aptly named ApeCoin Marketplace, built by NFT infrastructure company Snag Solutions, launched on November 24th and supports trading of BAYC, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherdeed NFT collections.
In a Twitter thread on Nov. 24, Snag Solutions CEO Zach Heerwagen said the marketplace “includes unique features” dedicated to the NFT community, including the ability to stake APEs. .
1/ Custom Marketplace includes unique features built specifically for BAYC and Otherside communities, such as ApeCoin staking and NFT metadata integration. pic.twitter.com/mem2ZsXNkt
— Zack | Zheerwagen.eth (@ZHeerwagen) November 23, 2022
According to Heerwagen, the marketplace “respects royalty while significantly reducing fees”. A 0.25% slice of each sale will be held in a multisig wallet and used to fund DAO initiatives.
Related: Industry shows confidence in NFT space amid FTX demise
Since other NFT marketplaces such as Solana (SOL)-based Magic Eden and Ethereum-based LooksRare have stopped applying royalties to creators by default, marketplaces now support royalties.
Other companies, such as OpenSea, continue to enforce royalties, creating tools to help NFT creators enforce royalties on-chain and blacklisting NFT sales on royalty-free markets. I made it possible to put it on .