Home » Launch of the Metaplex NFT market in Solana

Launch of the Metaplex NFT market in Solana

A market of non-expendable tokens under the name Metaplex has been officially launched in the Solana blockchain, highlighting the continued adoption of NFT technology.

The developer of the Metaplex Foundation platform announced on Wednesday that the new market was launched with the strategic support of Solana Labs and the FTX digital currency exchange. The platform is designed to provide a key infrastructure to the NFT community so that creators, artists and bands can easily launch custom collectibles.

The Metaplex Foundation says the new platform allows for “coding perpetual royalties in NFT,” which ensures that creators always receive a share of secondary sales. The whole listing process will also take place on the chain.

The platform is launched with the support of several celebrities and companies, including Grammy-winning artist RAC, creative studio Street Dreams and CryptoKickers, an NFT-based wearables band.

“Metaplex will do for the NFTs what Shopify did for the trade, but it goes a step further by not acting as an intermediary,” RAC said. “This aligns with the true spirit of the NFT movement, which is to open the door to the creative economy, not to extract value from our communities.”

In addition to the launch of the protocol, the Metaplex Foundation also announced plans to unveil a new META token to govern the protocol, although no details on the new digital currency were provided.

Metaplex marks the first NFT market of its kind to be launched in Solana. The blockchain network expanded rapidly during the first half of 2021, with the launch of dozens of market-ready projects on the platform. In March, the Solana Foundation, the behind-the-net grant program, signed two development partnerships with the $ 40 million OKEx and MXC digital currency exchanges.

The NFT market is forecast to double in October as the volume of trades increases, according to recent industry research. Invezz analysts concluded that the capitalization of the NFT industry could reach $ 470 million at this time.

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