Magic Eden Now Supports New ApeChain Blockchain Network

The ApeChain, a cutting-edge Layer-3 blockchain network crafted as an Arbitrum Orbit chain by the ApeCoin DAO in collaboration with the Yuga Labs team, is making significant strides within the crypto trading community and the non-fungible token (NFT) ecosystem. Magic Eden has recently emerged as the first NFT marketplace to offer support for its digital assets.

Magic Eden Expands Support For The ApeChain Network

On October 21, a official publication from Magic Eden, a well-established multi-chain NFT marketplace, announced its support for the ApeChain blockchain network. This integration was announced just hours after LayerZero, a protocol enabling cross-chain compatibility for smooth message and transaction exchanges between various blockchain networks, recognized ApeChain as its canonical interoperability provider.

.@MagicEden on APECHAIN.

Absolutely stunning.

Day 2. pic.twitter.com/wcmgcED9qd

— Trippy (Captain Trippy) (@CapetainTrippy) October 21, 2024

Launched in September 2021, Magic Eden has rapidly emerged as one of the foremost multi-chain NFT marketplaces, supporting non-fungible tokens across Solana, Ethereum, Polygon, Bitcoin, and Arbitrum blockchain networks. By 2024, Magic Eden has grown to become the leading NFT marketplace on both the Bitcoin and Solana networks, with which it first established its presence.

This marketplace allows users to create, buy, sell, and collect NFTs. It features various products, including a Launchpad that empowers creators to develop and trade collections of digital items directly on Magic Eden rather than hosting them on their systems. Additionally, Magic Eden includes a crypto wallet designed to provide a secure and user-friendly custodial experience within the Web3 realm.

What Is the ApeChain Blockchain Network?

Debuting last week, ApeChain is a new Layer-3 blockchain developed as an Arbitrum Orbit chain by ApeCoin, a decentralized autonomous organization (DAO) under Yuga Labs, which governs the Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs. The native token of ApeChain, $APE, will fuel this innovative network, emphasizing three main areas: content, tools, and distribution.

The ApeChain operates as an Arbitrum Orbit chain, harnessing the security and infrastructure of Arbitrum One. By leveraging settlement on Arbitrum One, which is secured by the Ethereum mainnet, ApeChain gains benefits from both Arbitrum’s scalability and Ethereum’s robust security and liquidity, all while preserving the independence of its own blockchain network.

ApeChain will integrate Arbitrum’s Stylus feature, allowing developers to write smart contracts using compatible languages such as Rust. This broadens the development scope beyond Solidity and makes the blockchain network more approachable for a diverse range of developers. Furthermore, ApeChain aims to enhance scalability through the introduction of Cluster Chains that utilize shared validators, accelerating cross-chain interactions and boosting network efficiency.

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