Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Can Ethereum perform better than Bitcoin like in 2019? – This relationship says yes, but …

2025-05-08

SEC -Files to arrange a lawsuit with Ripple, Execs about Civil Fine -Safe

2025-05-08

OCC Greenlights Banks to trade crypto on behalf of customers

2025-05-08
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Securitize is at the top of the list, tradable, ONDO, paxos and other dominant players

    2025-05-08

    Solana’s software supports these Layer-1’s

    2025-05-08

    Element goes live on abstract blockchain to power the next generation of modular daps

    2025-05-08

    Camino works together with Lufthansa Systems and Swiss to stimulate innovation in the travel industry

    2025-05-08

    How Plume is planning to scale tokenized real estate to $ 4 trillion by 2035

    2025-05-08
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Uniswap (uni) blastoff at hand? The sleeping gigantic awakens for $ 4.6 support

    2025-05-08

    Bitcoin hits $ 101k to reclaim six digits, because Trump confirms us, UK Trade Deal

    2025-05-08

    Crypto Exchange Coinbase adds Gold-Pegged Stablecoin Paxg to the list of route map

    2025-05-08

    XRP is forming bullish reverse dragon head pattern, how high can the price go?

    2025-05-08

    Bitcoin is recovering, but the market is still sharp with short -term holders near Breakeven

    2025-05-08
  • Learn

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17

    Real-World-Assets in Crypto, Explained

    2025-04-16
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»NFT»Solana gets new NFT standard, Metaplex will provide DAO fees for potential MPLX rewards
NFT

Solana gets new NFT standard, Metaplex will provide DAO fees for potential MPLX rewards

2024-03-25No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Metaplex Foundation revealed on Monday that it is launching a new non-fungible token (NFT) standard for Solana that’s cheaper to make and easier for developers to work with – and that’s crucial: given recent congestionit also requires significantly fewer Solana network computers.

The Metaplex Core standard, which the Foundation shares exclusively with Declutteris billed as a next-generation NFT standard for the Solana network, reducing coin costs and network demand by more than 80% compared to the existing Token Metadata standard on Solana.

“Core is the result of our learnings since we introduced the first Solana NFT standard in early 2021,” said Stephen Hess, director of the Metaplex Foundation. Declutter. “It rethinks the concept of digital assets on Solana from the ground up, optimizing cost, extensibility and performance.”

Minting an NFT with the Core standard could cost as little as 0.0037 SOL (about $0.70), the Foundation said as an example, compared to 0.0220 SOL ($4.25) with the Token Metadata standard. While Solana’s Bubblegum standard for compressed NFTs (or cNFTs) remains cheaper, it also has certain drawbacks and is still only intended for large-scale mints.

Metaplex Core is focused entirely on NFTs, not fungible tokens, and as a result has been significantly streamlined for developer use. While the Token Metadata standard requires communicating with multiple Solana accounts, Core reduces that total to just one – something that Metaplex says can “improve network performance for Solana more broadly.”

But streamlined doesn’t mean limited, the Foundation suggests. That’s because Metaplex Core comes with substantial plugin support, allowing developers to add several additional features such as “built-in staking” and “asset-based points systems,” according to a release.

See also  Skate launches AMM with Cross-VM support, including Solana, Ethereum

Further documentation shared with Declutter shows that Core could unlock advanced collection mechanisms on Solana, such as burn-to-mint functionality that covers many more assets – up to potentially 70 NFTs burned in a single transaction. That’s an increase from just 3-4 NFTs at a time using the Token Metadata standard.

The Foundation said that collection-level changes will also be easier with Core, and that the standard will also enable improved compatibility between NFT standards on other chains via potential plugins from cross-chain projects such as LayerZero or Wormhole.

Metaplex is deploying the Core standard on Devnet on Monday, along with releasing the open source code, with plans to have the standard ready on Solana Mainnet by NFT NYC in early April. Claynosaurz says it will use Core for its NFT NYC “Booster Packs,” as well as its Dactyl Raffle, while NFT marketplace Tensor has already committed to supporting the standard.

“We named the program Core because we see it as central to the next wave of innovation in digital assets, supporting thousands of artists, communities, Web3 games, real-world assets and decentralized applications,” Hess added to. “Now that Core has been activated on devnet, we are excited to partner with a battle-hardened builder community and the next generation of entrepreneurs who are proving what is only possible in real-time on Solana.”

In addition to the launch of the new standard, the Metaplex Foundation has committed to deposit 50% of the total costs of the Metaplex protocol into the Metaplex protocol. DAO treasury via the MPLX token. That means the community can vote on how the money is ultimately used for further adoption.

See also  Crypto Giant Grayscale is seeking to convert its Solana Trust into ETF, according to new filing

The MPLX token was launched on Solana in September 2022 and broadcast to creators who have used the protocol in the past, but the token itself has not had any significant use thus far. The Metaplex Foundation will use 50% of all previous protocol fees to purchase MPLX and give it to the DAO treasury, with 50% of future fees used for the same purpose.

The community of MPLX token holders can then collectively decide what to do with those funds, whether it be burning the money to reduce supply, developing staking rewards, or other possible steps forward.

Source link

DAO Fees Metaplex MPLX NFT potential provide rewards Solana Standard
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Drink-to-earn? A new sparkling water comes with an NFT and points

2025-05-08

Cobie says we will return if someone buys this $ 20 million NFT

2025-05-08

Edge Matrix, Colabs Partner to strengthen NFT -Makers

2025-05-08

Hadron integrates chain analysis by Tether, represents a new standard informing tokenization

2025-05-08
Add A Comment

Comments are closed.

Top Posts

​'Hey Mark Zuckerberg, get out of my head!'

2023-07-28

Upcoming Drops: April 24-30

2023-04-26

Bitcoin ETF Options Debut Leads to Record Trading – BlackRock’s IBIT Leads the Way

2024-11-21
Editors Picks

SEC chairman issues another warning as decision on spot Bitcoin ETF approaches

2024-01-09

Pundi X Labs and Scoin integrate Paxos amid rising gold prices

2024-05-17

Solana Potential Rebound: $30 Target In Sight

2023-09-13

Why is Bitcoin going up? How High Can Bitcoin Go?

2024-12-05
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Can Ethereum perform better than Bitcoin like in 2019? – This relationship says yes, but …

SEC -Files to arrange a lawsuit with Ripple, Execs about Civil Fine -Safe

OCC Greenlights Banks to trade crypto on behalf of customers

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,599.883.88%
  • ethereumEthereum(ETH)$2,204.5819.75%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.306.43%
  • binancecoinBNB(BNB)$624.002.70%
  • solanaSolana(SOL)$162.588.42%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19528310.60%
  • cardanoCardano(ADA)$0.7711.08%
  • tronTRON(TRX)$0.2558212.67%
  • suiSui(SUI)$3.9712.37%
  • chainlinkChainlink(LINK)$15.8311.17%
  • avalanche-2Avalanche(AVAX)$22.2411.16%
  • stellarStellar(XLM)$0.29358710.58%
  • shiba-inuShiba Inu(SHIB)$0.0000149.89%
  • bitcoin-cashBitcoin Cash(BCH)$420.404.90%
  • hedera-hashgraphHedera(HBAR)$0.1943858.50%
  • unus-sed-leoUNUS SED LEO(LEO)$8.860.68%
  • the-open-networkToncoin(TON)$3.184.81%
  • hyperliquidHyperliquid(HYPE)$23.018.73%
  • litecoinLitecoin(LTC)$95.424.23%
  • polkadotPolkadot(DOT)$4.509.82%
  • moneroMonero(XMR)$300.005.57%
  • daiDai(DAI)$1.00-0.03%
  • bitget-tokenBitget Token(BGB)$4.535.90%
  • piPi(PI)$0.689.89%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • pepePepe(PEPE)$0.00001130.24%
  • uniswapUniswap(UNI)$6.1523.10%
  • bittensorBittensor(TAO)$423.7110.82%
  • aptosAptos(APT)$5.5813.67%
  • nearNEAR Protocol(NEAR)$2.7817.49%
  • okbOKB(OKB)$52.573.04%
  • ondo-financeOndo(ONDO)$0.999.53%
  • aaveAave(AAVE)$204.3815.76%
  • ethereum-classicEthereum Classic(ETC)$18.4811.15%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.9625.11%
  • internet-computerInternet Computer(ICP)$5.2210.14%
  • gatechain-tokenGateToken(GT)$21.782.16%
  • crypto-com-chainCronos(CRO)$0.0990685.90%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24976912.53%
  • kaspaKaspa(KAS)$0.0988986.60%
  • mantleMantle(MNT)$0.765.35%
  • vechainVeChain(VET)$0.02863512.77%
  • render-tokenRender(RENDER)$4.748.91%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • ethenaEthena(ENA)$0.34233423.62%
  • filecoinFilecoin(FIL)$2.9410.36%
  • algorandAlgorand(ALGO)$0.22603010.93%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.779.59%
  • bitcoinBitcoin(BTC)$102,599.883.88%
  • ethereumEthereum(ETH)$2,204.5819.75%
  • tetherTether USDt(USDT)$1.00-0.01%
  • rippleXRP(XRP)$2.306.43%
  • binancecoinBNB(BNB)$624.002.70%
  • solanaSolana(SOL)$162.588.42%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.19528310.60%
  • cardanoCardano(ADA)$0.7711.08%
  • tronTRON(TRX)$0.2558212.67%
  • suiSui(SUI)$3.9712.37%
  • chainlinkChainlink(LINK)$15.8311.17%
  • avalanche-2Avalanche(AVAX)$22.2411.16%
  • stellarStellar(XLM)$0.29358710.58%
  • shiba-inuShiba Inu(SHIB)$0.0000149.89%
  • bitcoin-cashBitcoin Cash(BCH)$420.404.90%
  • hedera-hashgraphHedera(HBAR)$0.1943858.50%
  • unus-sed-leoUNUS SED LEO(LEO)$8.860.68%
  • the-open-networkToncoin(TON)$3.184.81%
  • hyperliquidHyperliquid(HYPE)$23.018.73%
  • litecoinLitecoin(LTC)$95.424.23%
  • polkadotPolkadot(DOT)$4.509.82%
  • moneroMonero(XMR)$300.005.57%
  • daiDai(DAI)$1.00-0.03%
  • bitget-tokenBitget Token(BGB)$4.535.90%
  • piPi(PI)$0.689.89%
  • ethena-usdeEthena USDe(USDE)$1.00-0.06%
  • pepePepe(PEPE)$0.00001130.24%
  • uniswapUniswap(UNI)$6.1523.10%
  • bittensorBittensor(TAO)$423.7110.82%
  • aptosAptos(APT)$5.5813.67%
  • nearNEAR Protocol(NEAR)$2.7817.49%
  • okbOKB(OKB)$52.573.04%
  • ondo-financeOndo(ONDO)$0.999.53%
  • aaveAave(AAVE)$204.3815.76%
  • ethereum-classicEthereum Classic(ETC)$18.4811.15%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.9625.11%
  • internet-computerInternet Computer(ICP)$5.2210.14%
  • gatechain-tokenGateToken(GT)$21.782.16%
  • crypto-com-chainCronos(CRO)$0.0990685.90%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.24976912.53%
  • kaspaKaspa(KAS)$0.0988986.60%
  • mantleMantle(MNT)$0.765.35%
  • vechainVeChain(VET)$0.02863512.77%
  • render-tokenRender(RENDER)$4.748.91%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • ethenaEthena(ENA)$0.34233423.62%
  • filecoinFilecoin(FIL)$2.9410.36%
  • algorandAlgorand(ALGO)$0.22603010.93%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.779.59%