Magic Eden adds support for BeraChain and ApeChain, sets sights on Monad
Quick Take
- Magic Eden added Berachain and ApeChain as its eighth and ninth supported blockchains, respectively.
- The platform aims to add the Layer 1 network Monad after it goes live on testnet.
The Solana-based NFT platform Magic Eden added Berachain and ApeChain as its eighth and ninth supported blockchains, respectively.
The move brings Magic Eden closer to its goal of 10 supported blockchains by the end of the year. Magic Eden has its sights on the EVM-compatible Layer 1 network Monad — after the network goes live on testnet, a company spokesperson told The Block.
The Layer 1 blockchain Berachain has two main tokens in its ecosystem: BGT and HONEY. It differentiates itself from other networks through its "proof of liquidity" consensus mechanism to verify onchain the liquidity for certain assets, The Block previously reported. The developer behind the Layer 1 blockchain BeraChain raised $100 million in Series B funding in April of this year.
ApeChain, born from the NFT brand Yuga Labs, is an infrastructure layer aiming to bolster the ApeCoin (APE) ecosystem. APE traded at $1.31 after seeing a 15.8% decrease in the past 24 hours as of 4:50 p.m. ET (20:50 UTC), according to The Block Prices.
Correction (Oct. 23, 9:07 a.m. ET) to update Berachain's token ecosystem.
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