The market has been launched

US-based ApeCoin (APE) holders could miss out on staking rewards after adding the US to the list of regions that are geo-blocked from using the upcoming APE Staking service.

Blockchain infrastructure firm Horizen Labs, which is building the site on behalf of the decentralized autonomous organization ApeCoin (DAO), broke the news in a November 24 update regarding ApeStake.io on Twitter, saying “Unfortunately, in today’s regulatory environment, we had no alternative.” Good “.

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

There are potential ways to get around the geographic block. The update notes that the website is only an interface for interacting with the open source Ethereum-based smart contract, and “several other” interfaces are being designed by parties such as exchanges and DeFi platforms.

Notable Twitter user “Zeneca” Tell The 312k followers who are from regions that are geo-blocked by ApeStake.io will still be able to participate by interacting with the smart contract directly or using another interface without geo-blocks. Residents of restricted areas can also use a Virtual Private Network (VPN) to spoof their location.

The decision to ban US users likely resulted from the SEC’s October investigation into APE maker Yuga Labs. The regulator is investigating whether the company’s non-fungible tokens (NFTs) act more like securities and thus violate federal laws.

Two bored monkey NFT’s selling for nearly a million dollars each

Meanwhile, some bored monkeys still fetch high prices even in the depths of crypto winter. An NFT from the flagship Bored Ape Yacht Club (BAYC) pool was being sold to Yuga Labs for 800 ether (ETH), or roughly $950,000 at the time of the sale on November 23.

BAYC #232 was sold to an NFT collector with the pseudonym “Keungz” – who appears to have several Yuga NFTs according to their OpenSea profile – by Deepak Thapliydal.

Tapliydal is the CEO of infrastructure company Web3 Chain, and gained notoriety for achieving the Guinness World Record for his purchase of “most valuable NFT holding” after buying CryptoPunk #5822 for 8,000 ETH, or $23.7 million, on February 12.

The November 24 sale of BAYC #232 of BAYC #1268 between two unknown wallets for 780 ETH, or approximately $940,000 at the time of the sale, was closely followed.

The sales are significant as NFTs have been selling well above the current minimum price of the group which has been declining over the past months.

According to data from the NFT Price Floor, the minimum bored monkey price at the time of writing is just under 63 ETH, or around $75,600, and is down 80% in USD terms from its May 1 high of 144.9 ETH, or over $391,000 at the time.

ApeCoin DAO launches the market

A community-led DAO 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 24 and supports BAYC transactions, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Otherdeed NFT pools.

On November 24, Snag Solutions CEO Zach Heerwagen said that the marketplace “includes unique features” especially for NFT communities including the ability to share APE.

According to Heerwagen, the market is “honoring royalties while significantly lowering fees.” A slice of 0.25% of each sale is held in a multi-signature wallet and used to fund DAO initiatives.

Related: Industry expresses confidence in NFT space amid FTX meltdown

The market support for royalties comes as some other NFT marketplaces such as Solana-based Magic Eden (SOL) and Ethereum-based LooksRare have stopped charging creators royalties by default.

Others like OpenSea have continued to charge royalties and even created a tool to help NFT creators enforce on-chain royalties, allowing them to blacklist NFT sales on royalty-free markets.