{"id":26116,"date":"2024-12-05T19:21:12","date_gmt":"2024-12-05T19:21:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=26116"},"modified":"2024-12-05T19:21:12","modified_gmt":"2024-12-05T19:21:12","slug":"metaplex-protocol-achieves-record-breaking-protocol-fees-in-november-2024","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=26116","title":{"rendered":"Metaplex Protocol Achieves Record-Breaking Protocol Fees in November 2024"},"content":{"rendered":"

[PRESS RELEASE \u2013 Cayman Islands, Cayman Islands, December 4th, 2024]<\/strong><\/p>\n

Metaplex<\/strong><\/a>, the blockchain protocol used to create virtually every token, memecoin, and NFT on Solana, saw record-breaking protocol fees in November, fueled by a surge in digital asset creation on Solana.<\/p>\n

Rise in Solana Token Creation Drives Record Protocol Growth<\/strong><\/h1>\n

As the protocol behind virtually all token creation on Solana, Metaplex has emerged as a primary beneficiary of the extraordinary surge in digital asset creation on the Solana network.<\/p>\n\n

This exponential level of activity, encompassing everything from memecoins to AI tokens and NFTs, directly contributes to Metaplex\u2019s protocol fees. This increased protocol fee generation has in turn funded record-breaking $MPLX token purchases for the Metaplex DAO.<\/p>\n\n

Since June 2024, 50% of the prior month\u2019s protocol fees and a portion of the historical fees have been allocated to funding $MPLX <\/strong>token purchases for contribution to the DAO.<\/p>\n

In November 2024, this culminated in 12k SOL worth of $MPLX <\/strong>purchases \u2014 equivalent to approximately $3 million at current prices, marking a substantial 58% increase month-over-month and signifying the largest monthly $MPLX<\/strong> token purchases to date.<\/p>\n

Building on this momentum, Metaplex\u2019s November protocol fees hit an all-time high of $3.5 million, setting the stage for even larger allocations for $MPLX purchases in December.<\/p>\n

Record-Breaking Metaplex Protocol Metrics in November<\/strong><\/h1>\n

November\u2019s protocol activity shattered previous records across multiple metrics:<\/p>\n

Metaplex saw extraordinary growth in fungible token creation, with 1.4M new tokens minted<\/strong> \u2014 marking a 56% increase month-over-month compared to the previous all-time high<\/strong> in October 2024 and a new monthly record. This represented 94% of all Token Metadata assets created, driven primarily by memecoin activity on platforms such as Pump.fun.
\nMetaplex Core, the next generation NFT standard, demonstrated significant adoption with a new all-time high of 354k assets created<\/strong>, driven by expanded use cases made possible due to the standard\u2019s flexible design.
\nUser engagement metrics surged as the number of unique wallets interacting with the Metaplex protocol reached 879k \u2014 a 34% increase <\/strong>from October and a new all-time high. The protocol\u2019s total collector base expanded to nearly 60 million unique wallets, growing by over 860k in November alone.<\/p>\n

About the Metaplex Protocol<\/strong><\/h2>\n

Metaplex<\/a> 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 a growing user base and a commitment to innovation, Metaplex is empowering the next wave of decentralized finance and commerce.<\/p>\n

About the Metaplex Foundation<\/strong><\/h2>\n

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 empowers developers, creators, and users worldwide to participate in a decentralized and inclusive digital economy.<\/p>\n

Website: https:\/\/www.metaplex.com\/<\/a><\/p>\n

X: https:\/\/x.com\/metaplex<\/a><\/p>\n

Discord: https:\/\/discord.com\/invite\/6FaDSP2zms<\/a><\/p>\n

The post Metaplex Protocol Achieves Record-Breaking Protocol Fees in November 2024<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Cayman Islands, Cayman Islands, December 4th, 2024] Metaplex, the blockchain protocol used to create virtually every token, memecoin, and NFT on Solana, saw record-breaking protocol fees in November, fueled by a surge in digital asset creation on Solana. Rise in Solana Token Creation Drives Record Protocol Growth As the protocol behind virtually […]<\/p>\n","protected":false},"author":0,"featured_media":26117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26116"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26116"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26117"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}