Magic Eden, a multi chain marketplace for non fungible tokens (NFTs), has supported for the ApeChain blockchain network.
This is an important step as ApeChain, a Layer 3 blockchain created by ApeCoin DAO, gains recognition in the NFT space.
Magic Eden’s Support for ApeChain
On October 21, Magic Eden made an announcement, that it has added support for ApeChain, the new blockchain network developed by ApeCoin DAO in collaboration with Yuga Labs. Magic Eden, which is widely recognized for supporting NFTs on various blockchains, now includes ApeChain in its list of supported networks.
This announcement came soon after LayerZero, a cross chain protocol designed to enhance communication between different blockchains, added ApeChain to its supported networks. LayerZero’s support will make it easier for ApeChain to interact with other blockchain networks.
In the announcement they also memtioned about minting, with cost free on Apechain Blockchain.
Magic Eden
Magic Eden, which launched in September 2021, is one of the leading NFT marketplaces. It originally started on the Solana blockchain but has since expanded to support other networks such as Ethereum, Polygon, Bitcoin, and Arbitrum. Magic Eden has gradually grown to become a top player in the NFT space, especially on the Bitcoin and Solana networks.
The platform allows users to create, buy, sell, and collect NFTs. One of its popular features is the Launchpad, which enables creators to develop and trade NFT collections directly on Magic Eden without needing external infrastructure. Additionally, Magic Eden provides its own crypto wallet, designed to provide a secure and user friendly experience for NFT traders.
Ape Chain
ApeChain is a new Layer 3 blockchain network developed by ApeCoin DAO, the same organization behind the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs. The network was designed with a focus on content, tools, and distribution.
ApeChain operates as an Arbitrum Orbit chain, which means it is built on top of Arbitrum’s infrastructure. By doing so, ApeChain benefits from Arbitrum’s scalability and the security of Ethereum, as Arbitrum itself is secured by Ethereum’s mainnet. This structure allows ApeChain to operate independently while leveraging the security and liquidity of Ethereum.
Core Features of ApeChain
The ApeChain network is powered by $APE, the native token of the platform. The network aims to provide a platform for developers to create decentralized applications (dApps) with a focus on expanding the NFT and digital asset space. One main feature of ApeChain is its use of Arbitrum’s Stylus, which allows developers to build smart contracts using programming languages like Rust, in addition to Solidity. This broadens the range of possibilities for developers who want to build on the network.
Another feature is the introduction of Cluster Chains, which help improve cross chain interactions and overall network efficiency. These chains share validators, allowing for faster transactions between blockchains and greater scalability.
Magic Eden’s Expanding platform
With the integration of ApeChain, Magic Eden is further expanding its reach in the NFT market. Magic Eden has a strong presence on multiple blockchains, and adding ApeChain provides another way to meet the growing interest in NFTs. This partnership with ApeChain could open new opportunities for creators and traders within the ApeCoin and Yuga Labs communities.
Conclusion
As Magic Eden’s decision to integrate ApeChain represents an important one for both the NFT marketplace and the ApeChain network. As ApeChain gains popularity in the digital asset world, this collaboration is likely to create more opportunities for creators, traders, and developers. By supporting ApeChain, Magic Eden is strengthening its position as a major platform in the growing NFT space, providing more options and features for users to explore.
