Machine Gun Kelly and Megan Fox announced their engagement on Wednesday night
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Megan Fox is complementing her engagement ring with some extra sparkle.

The Till Death actress, 35, showed off her brand-new accessory alongside her and fiancé Machine Gun Kelly's matching chrome manicures from Nails of LA after the Born with Horns artist, 31, popped the question on Tuesday.

The couple previously showed their love through nail accessories last month, when they were linked together by their pinky nails with a thin silver chain at the launch party for Kelly's own nail polish line, UN/DN LAQR.

After proposing to Fox during their Puerto Rico vacation, Kelly revealed that he designed the engagement ring himself, explaining the inspiration behind the diamond and emerald stones.

"I know tradition is one ring, but I designed it with Stephen Webster to be two: the emerald (her birth stone) and the diamond (my birth stone) set on two magnetic bands of thorns that draw together as two halves of the same soul forming the obscure heart that is our love," he wrote on Instagram.

Webster told PEOPLE that the rings were created in 18 karat white gold with colorless diamond pavé bands. Although Webster didn't disclose the price of Kelly and Fox's ring, diamond experts estimated it would cost up to $500,000.

Fox announced their engagement Wednesday on Instagram, sharing a video of her husband-to-be getting down on one knee under a banyan tree that holds a significant meaning in their relationship.

megan fox, machine gun kelly
Credit: Phillip Faraone/Getty Images for iHeartMedia

"In July of 2020 we sat under this banyan tree. We asked for magic. We were oblivious to the pain we would face together in such a short, frenetic period of time," she captioned the clip. "Unaware of the work and sacrifices the relationship would require from us but intoxicated off of the love. And the karma.

"Somehow a year and a half later, having walked through hell together, and having laughed more than I ever imagined possible, he asked me to marry him. And just as in every lifetime before this one, and as in every lifetime that will follow it, I said yes. …and then we drank each other's blood 1.11.22," Fox wrote.

RELATED VIDEO: Megan Fox and Machine Gun Kelly Are Engaged!

A source told PEOPLE that Fox "loved the proposal" and "thought it was beautiful and perfect," adding: "She is excited to get married."

Fox met Kelly, whose real name is Colson Baker, while filming the movie Midnight in the Switchgrass. The pair made their relationship Instagram official last summer after she appeared in his "Bloody Valentine" music video.

The video came just days after Fox's husband of almost 10 years, Brian Austin Green, 48, confirmed their split. She and Green co-parent sons Noah Shannon, 9, Bodhi Ransom, 7, and Journey River, 5. Kelly shares 12-year-old daughter Casie Colson with ex Emma Cannon.