Cayman Islands, December 4th, 2024

Metaplex, the blockchain protocol behind token and NFT creation on Solana, experienced record protocol fees in November due to a surge in digital asset activity.

Rise in Solana Token Creation Drives Record Protocol Growth

Metaplex, as the driving force for token creation on Solana, benefitted from a significant increase in digital assets created, including memecoins and NFTs. This uptick in activity resulted in higher protocol fees which funded record $MPLX token purchases for the Metaplex DAO.

Since June 2024, 50% of the previous month’s protocol fees have been allocated to funding $MPLX token purchases for the DAO. In November 2024, this resulted in 12k SOL worth of $MPLX purchases—approximately $3 million—marking a 58% month-over-month increase and the largest monthly purchases to date.

Record-Breaking Metaplex Protocol Metrics in November

November's protocol activity set multiple records:

• 1.4M new fungible tokens minted, a 56% increase month-over-month, totaling 94% of all Token Metadata assets created, primarily driven by memecoin activity.
• 354k assets created with Metaplex Core, showcasing significant adoption of the NFT standard.
• 879k unique wallets interacted with the Metaplex protocol, a 34% increase, pushing the total collector base to nearly 60 million unique wallets.

About the Metaplex Protocol

Metaplex is the leading decentralized protocol on Solana and SVM, offering tools for developers to create decentralized applications with digital assets. With a growing user base, it is paving the way for decentralized finance and commerce.

About the Metaplex Foundation

The Metaplex Foundation is a Cayman Islands non-profit organization that supports the Metaplex Protocol's development. By providing open-source tools, it empowers a decentralized digital economy.

Website: metaplex.com
X: x.com/metaplex
Discord: discord.com/invite/6FaDSP2zms
Contact: Dan Forgd at [email protected]

Article originally published on Chainwire.