Metaplex Protocol Achieves Record Protocol Fees in November 2024

admin6 days ago

Cayman Islands, Cayman Islands, December 4, 2024, Chainwire

metaplexthe blockchain protocol used to create virtually all tokens, memecoins, and NFTs on Solana, recorded record protocol fees in November, driven by a surge in digital asset creation on Solana.

Metaplex, the protocol underpinning nearly all of Solana’s token creation, has emerged as a major beneficiary of the Solana Network’s surge in digital asset creation.

Covering everything from memecoins to AI tokens and NFTs, this exponential level of activity directly contributes to Metaplex’s protocol fees. This increased protocol fee generation helped fund record-breaking $MPLX token purchases for the Metaplex DAO.

From June 2024, 50% of the previous month’s protocol fees and a portion of past fees have been allocated to funding. $MPLX Purchase tokens to contribute to the DAO.

In November 2024, this peaked at a value of 12,000 SOL. $MPLX Purchases — equivalent to approximately $3 million at current prices, represent a significant 58% increase month-on-month and represent the largest monthly volume. $MPLX Token purchases so far.

Building on this momentum, Metaplex’s November protocol fees hit a record high of $3.5 million, setting the stage for a larger allocation for $MPLX purchases in December.

Protocol activity in November shattered previous records across multiple metrics.

Metaplex has seen incredible growth in fungible token creation. 1.4 million new tokens issued – mark Monthly increase of 56% compared to the previous month’s high A new monthly record was reached in October 2024. This represents 94% of all token metadata assets generated primarily by memecoin activity on platforms such as Pump.fun.
Metaplex Core, the next-generation NFT standard, is a new technology that has seen significant adoption. 354,000 assets created, an all-time highThe flexible design of the standard enables expanded use cases.
User engagement metrics have skyrocketed as the number of unique wallets interacting with the Metaplex protocol has reached. 879,000 – 34% increase It has been hitting record highs since October. The protocol’s total aggregator base has expanded to nearly 60 million unique wallets, growing by more than 860,000 in November alone.

Metaplex Protocol Information

Metaplex is the leading decentralized protocol from Solana and SVM, providing tools and programs for developers and creators to build decentralized applications using digital assets. With a growing user base and commitment to innovation, Metaplex is powering the next generation 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. The Foundation helps developers, creators, and users around the world participate in a decentralized and inclusive digital economy by providing open source tools and resources.

Website: https://www.metaplex.com/

X: https://x.com/metaplex

Discord: https://discord.com/invite/6FaDSP2zms