Metaplex Protocol Achieves Record-Breaking Protocol Fees in November 2024

[PRESS RELEASE – Cayman Islands, Cayman Islands, December 4th, 2024]

Metaplex, the blockchain protocol used to create just about each token, memecoin, and NFT on Solana, noticed record-breaking protocol charges in November, fueled by a surge in digital asset creation on Solana.

Because the protocol behind just about all token creation on Solana, Metaplex has emerged as a major beneficiary of the extraordinary surge in digital asset creation on the Solana community.

This exponential degree of exercise, encompassing all the pieces from memecoins to AI tokens and NFTs, instantly contributes to Metaplex’s protocol charges. This elevated protocol payment era has in flip funded record-breaking $MPLX token purchases for the Metaplex DAO.

Since June 2024, 50% of the prior month’s protocol charges and a portion of the historic charges have been allotted to funding $MPLX token purchases for contribution to the DAO.

In November 2024, this culminated in 12k SOL price of $MPLX purchases — equal to roughly $3 million at present costs, marking a considerable 58% enhance month-over-month and signifying the most important month-to-month $MPLX token purchases thus far.

Constructing on this momentum, Metaplex’s November protocol charges hit an all-time excessive of $3.5 million, setting the stage for even bigger allocations for $MPLX purchases in December.

November’s protocol exercise shattered earlier information throughout a number of metrics:

• Metaplex noticed extraordinary development in fungible token creation, with 1.4M new tokens minted — marking a 56% enhance month-over-month in comparison with the earlier all-time excessive in October 2024 and a brand new month-to-month report. This represented 94% of all Token Metadata property created, pushed primarily by memecoin exercise on platforms comparable to Pump.enjoyable.
• Metaplex Core, the subsequent era NFT normal, demonstrated vital adoption with a brand new all-time excessive of 354k property created, pushed by expanded use instances made potential as a result of normal’s versatile design.
• Person engagement metrics surged because the variety of distinctive wallets interacting with the Metaplex protocol reached 879k — a 34% enhance from October and a brand new all-time excessive. The protocol’s complete collector base expanded to almost 60 million distinctive wallets, rising by over 860k in November alone.

In regards to the Metaplex Protocol

Metaplex is the main decentralized protocol on Solana and SVM, offering instruments and packages for builders and creators to construct decentralized functions that use digital property. With a rising consumer base and a dedication to innovation, Metaplex is empowering the subsequent wave of decentralized finance and commerce.

In regards to the Metaplex Basis

The Metaplex Basis is a Cayman Islands non-profit group devoted to supporting the event and development of the Metaplex Protocol. By offering open-source instruments and sources, the Basis empowers builders, creators, and customers worldwide to take part in a decentralized and inclusive digital economic system.

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