[PRESS RELEASE – Cayman Islands, Cayman Islands, December 4th, 2024]
MetaplexThe blockchain protocol used to create virtually all tokens, memecoins and NFTs on Solana, posted record protocol fees in November, driven by a surge in digital asset creation on Solana.
As the protocol behind virtually all token creation on Solana, Metaplex has become the primary beneficiary of the extraordinary surge in digital asset creation on the Solana network.
This exponential level of activity, spanning everything from memecoins to AI tokens to NFTs, directly contributes to Metaplex’s protocol fees. This increased generation of protocol fees, in turn, has funded record purchases of $MPLX tokens for the Metaplex DAO.
Since June 2024, 50% of the previous month’s protocol fees and a portion of historical fees have been allocated to funding. $MPLX purchases of tokens for contribution to the DAO.
In November 2024, this culminated in 12,000 SOL in $MPLX purchases: equivalent to approximately $3 million at current prices, marking a substantial 58% month-over-month increase and marking the largest monthly increase $MPLX token purchases to date.
Building on this momentum, November Metaplex protocol fees hit an all-time high of $3.5 million, setting the stage for even larger allocations for $MPLX purchases in December.
November protocol activity broke previous records across multiple metrics:
- Metaplex experienced extraordinary growth in the creation of fungible tokens, with 1.4 million new tokens minted – mark a 56% month-over-month increase compared to previous all-time high in October 2024 and a new monthly record. This represented 94% of all token metadata assets created, driven primarily by memecoin activity on platforms like Pump.fun.
- Metaplex Core, the next-generation NFT standard, demonstrated significant adoption with a new all-time high of 354,000 assets createddriven by expanded use cases made possible by the standard’s flexible design.
- User engagement metrics increased as the number of unique wallets interacting with the Metaplex protocol was reached. 879k: an increase of 34% starting in October and a new all-time high. The protocol’s total collector base expanded to nearly 60 million unique wallets, growing by more than 860 thousand in November alone.
About the Metaplex protocol
Metaplex is the leading Solana and SVM decentralized protocol, providing tools and programs for developers and creators to create decentralized applications that use digital assets. With a growing user base and a 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.
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