Cayman Islands, Cayman Islands, December 4, 2024, Chainwire
Metaplex, the blockchain protocol used to create virtually all tokens, meme coins, and NFTs, experienced record-breaking protocol fees in November, driven by a surge in digital asset creation on Solana. did.
Rise in Solana Token Creation Drives Record Growth for Protocol As the protocol behind virtually all token creation on Solana, Metaplex is the primary beneficiary of the extraordinary surge in digital asset creation on the Solana network. It surfaced.
This exponential level of activity, including everything from meme coins to AI tokens and NFTs, directly contributes to Metaplex's protocol fees. This increased protocol fee generation funded Metaplex DAO’s record $MPLX token purchases.
Starting in June 2024, 50% of the previous month's protocol fees and a portion of past fees were allocated to $MPLX token purchase funds for contributions to the DAO.
In November 2024, this culminated in a $MPLX purchase worth 12,000 SOL. This equates to approximately $3 million at current prices, marks a significant 58% month-over-month increase, and represents the largest monthly $MPLX token purchase to date.
Building on this momentum, Metaplex's November protocol fee hit an all-time high of $3.5 million, setting the stage for an even larger allocation with the December purchase of MPLX.
November Record-Breaking Metaplex Protocol Metrics November's protocol activity shattered previous records across multiple metrics.
Metaplex has seen tremendous growth in alternative token creation, with 1.4 million new tokens minted, a 56% month-on-month increase and a new monthly record compared to the all-time high in October 2024. This represents 94% of all token metadata assets created and is primarily driven by memecoin activity on platforms such as Pump.fun.Metaplex Core, the next generation NFT standard demonstrating significant adoption. A record 354,000 assets were created. The standard's flexible design enables expanded use cases. The number of unique wallets interacting with the Metaplex protocol reached 879,000, and user engagement metrics skyrocketed. This is a 34% increase from before. In October, it reached an all-time high. The protocol's total collector base has grown to nearly 60 million unique wallets, an increase of over 860,000 in November alone.
About the Metaplex protocol
Metaplex is the leading decentralized protocol on Solana and SVM, providing tools and programs for developers and creators to build decentralized applications that use digital assets. With our growing user base and commitment to innovation, Metaplex is powering the next wave of decentralized finance and commerce.
About Metaplex Foundation
The Metaplex Foundation is a Cayman Islands non-profit organization dedicated to supporting the development and growth of the Metaplex Protocol. By providing open source tools and resources, the Foundation enables developers, creators, and users around the world to participate in a decentralized and inclusive digital economy.
Website: https://www.metaplex.com/
X: https://x.com/metaplex
Discord: https://discord.com/invite/6FaDSP2zms
Contact Marketing DanForgddan@forgd.com
This article was originally published on Chainwire
