Magic Eden Adds Support for ApeChain and BeraChain, Strengthening NFT Offerings – Cryptoflies News

Magic Eden, a non-fungible token (NFT) marketplace, has announced it now supports ApeChain and BeraChain, adding to its list of compatible blockchains, which already includes Solana, Ethereum, and Bitcoin, among others.

ApeChain is a Layer-3 blockchain created by ApeCoin DAO. Its native token, $APE, launched in 2022, powers the network and serves as the main token for the Bored Ape Yacht Club (BAYC) ecosystem. 

In the same year, ApeCoin DAO introduced its NFT marketplace, featuring collections like BAYC and MAYC, along with other Yuga Labs-owned NFTs. ApeCoin DAO also partnered with the BWT Alpine F1 Team for the Miami Grand Prix earlier this year.

Just a few days ago, ApeChain mainnet launch and LayerZero’s integration translated into a 100% price upside for ApeCoin.

BeraChain, meanwhile, is a high-performance Layer-1 (L1) blockchain that uses Proof-of-Liquidity (PoL) as its consensus mechanism. This system allows users to secure the network by staking their assets, which functions similarly to earning interest in a savings account.

With the new additions, Magic Eden now features dedicated pages for NFTs based on both ApeChain and BeraChain, offering users detailed collection analytics. 

These updates move Magic Eden closer to its goal of supporting 10 blockchains by the end of the year, with ApeChain and BeraChain marking the eighth and ninth additions. The marketplace now only needs to integrate one more blockchain to meet its target.

Magic Eden has been actively expanding its blockchain integrations. In March 2023, it became the first marketplace to launch a Bitcoin marketplace for digital artifacts, fully audited in the Bitcoin Ordinals ecosystem. A year later, it introduced Runes to simplify Bitcoin transactions. 

In September, Magic Eden led the NFT market for six consecutive months, capturing 36.7% of the market with a trading volume of $122.47 million in August alone.