Magic Eden Expands Blockchain Support

The Solana-based NFT platform Magic Eden added BeraChain and ApeChain as its eighth and ninth supported blockchains, respectively.

This move brings Magic Eden closer to its goal of 10 supported blockchains by the end of the year. Magic Eden aims to integrate the EVM-compatible Layer 1 network Monad once it goes live on testnet, according to a company spokesperson.

Overview of BeraChain

The Layer 1 blockchain BeraChain features three main tokens in its ecosystem: BEX, BGT, and HONEY. It sets itself apart from other networks through a "proof of liquidity" consensus mechanism to verify liquidity for certain assets on-chain. The developers behind BeraChain raised $100 million in Series B funding in April of this year.

Overview of ApeChain

ApeChain, developed from the NFT brand Yuga Labs, serves as an infrastructure layer designed to strengthen the ApeCoin (APE) ecosystem. As of 4:50 p.m. ET (20:50 UTC), APE traded at $1.31 after experiencing a 15.8% decrease in the last 24 hours, according to The Block Prices.