Metaplex is a decentralized protocol for the creation, commerce and use of digital assets on the Solana blockchain. Metaplex provides utility programs like Packs, Fusion, “Entangled” and Encrypted NFTs. Programs like Gumdrop and Hydra facilitate the distribution of tokens.
The Metaplex protocol has four components.
- The Digital Asset Standard defines the metadata structure for non-fungible tokens (NFTs), enabling interoperability across all participants in the Solana NFT ecosystem, including NFT projects, individual NFTs, wallets, marketplace, dApps, and other protocols.
2 The Metaplex Program Library (MPL) includes multiple infrastructural protocols providing on-chain functionality for the creation, sale, purchase or trading of NFTs.
- Advanced Developer Tools and SDKs streamline working with Metaplex, abstracting away complexity that makes blockchain development inaccessible to many. This is a key reason Metaplex is the preferred starting point for many developers getting started in the Solana ecosystem.
- MPLX is a utility and governance token for the Metaplex Protocol. Token holders steer the direction and evolution of the protocol through the Metaplex DAO, delivering on the promise of a decentralized and community-owned creator platform.
(Data from Coingecko)
