Operating since 2021, the network Solemn because of much of its success NFT. Even if the Ethereum network retained its leading position in this market, resulting in a significant increase in transaction fees, Solemn he managed to establish himself as an inevitable outsider. This asset, which is shared by the network Metaplex. This tool indeed provides what makes creation and sale easier NFT on the Solana Network.
Metaplex, an essential toolbox for the Solana network (SOL)
Metaplex born June 2021. His project is both simple and ambitious: provide a framework for Solemn containing the NFT may flourish. With this protocol, the foundation Metaplex seeking development tools and standards for creation and ownership NFT. Specifically, Metaplex offers four smart contracts: Token Metadata, Token Vault, Auction, and Metaplex. These four elements interact and therefore can a NFT (thus attaching metadata to a token), plotting and exchanging it.
Solana Labs, promoter of the Metaplex project
In fact, it’s off Solana Laboratories with its two main developers Bartosz Lipinski and Jordan Prince. Their initial idea was simple. Anticipate proliferation of use cases NFT and the explosion in this market, they wanted to offer a more streamlined experience than Ethereum had to manage these signals. In fact, last year, it sometimes took thousands of dollars to create a collection and two or three hundred dollars to mint NFT.
In a few weeks, the first functionalities were implemented. Creation of the Metaplex Foundation committed to this project then accelerate its development. Since then, almost all NFT proven on Solemn use of Metaplex tools.
The Ethereum kill and NFTs success story on Solana (SOL)
This bet was more than a success. Since its launch, Metaplex generated $ 3.2 billion in sales NFT. The metadata standards developed by Metaplex so embraced by most marketplaces NFT. Opensea but also Magic Eden and Solanart use its standards. So we can say that the entire NFT market is on Solemn attached to this protocol. To complete its offering and introduce as many companies as possible, Metaplex has created Holaplex, which offers a framework for each brand to launch its own market with no coding required. The goal is to allow the simplest possible Web3 integration.
In a few months, Solemn has become the underdog of Ethereum in the field of NFT. Among its assets, but also reduced transaction costs Metaplex, a set of tools for developers. Thanks to this toolbox, developers and brands can continue to create new unlimited use cases for these unmixed tokens.