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Terana caerulea
Vibrant, velvet blue saprobic fungus on a fallen tree.
A fallen tree in moist, dense mixed hardwood forest.
The blue pigment responsible for the vibrant hue is thelephoric acid. According to wikipedia: "Thelephoric acid has been shown to inhibit prolyl endopeptidase, an enzyme that has a role in processing proteins (specifically, amyloid precursor protein) in Alzheimer's disease."
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