Metaplex August Round-up

Highlights

• Fungible Tokens - 382k new fungible tokens created through Metaplex, the fourth highest month of all time 

• Core Adoption - Over 230k assets have now been minted with Core, including 57k this month (+64%MoM)

• Token Metadata Optimization - Metaplex announced it will be reducing the size of Token Metadata accounts, which will minimize the standard’s onchain footprint, reduce strain on the Solana network, and lower minting costs

• SVM L2 Deployments - The Metaplex protocol was deployed on Eclipse and SonicSVM, the first Ethereum-based and gaming focused SVM L2s, respectively

• $MPLX Token Purchases - 10,000 SOL of Metaplex Protocol fees were used to purchase 5.0M $MPLX, which was contributed to the Metaplex DAO

Protocol Activity

There were 693k Token Metadata assets created this month, 55% of which were fungible tokens. Over 90% of all fungible tokens minted on Solana in August were created through Metaplex.

Uncompressed NFT activity strengthened throughout the course of August, with Token Metadata NFT mints growing 23% and 17% week-over-week during the last two weeks of the month, respectively. August also represented the second highest monthly quantity of Core assets minted since the standard launched, up nearly 65% from July ‘24. Core adoption continues to drive new and innovative use cases for non fungible assets. 

In total creators and developers minted 10.2 million million digital assets through Metaplex in August, including 9.5 million compressed NFTs.

393k unique wallets directly signed transactions with the protocol in August.

In August, Metaplex was the fifth largest Solana protocol based on active wallets and the ninth largest protocol based on transactions.

As of August, the total number of Metaplex collectors reached nearly 57 million unique wallets, an increase of over 800k million wallets month-over-month.

Developer Platform

Token Metadata Optimization

Metaplex notified developers and announced an important update impacting Metaplex’s Token Metadata (TM) program that will take place in September. This update will reduce the size of metadata accounts by over 35%, significantly decreasing the resource requirements on the network and lowering minting costs for users by reducing data storage costs. Master Edition and Edition accounts will both see reductions of more than 17%, making it far more efficient for storing and managing metadata, as well as cheaper for users. Starting on September 9th, the update will be released on devnet, with a planned mainnet deployment scheduled for September 30th.

Core

The Core standard continued to gain traction, with over 230,000 Core digital assets now minted. In addition to adoption, the Core standard received significant upgrades including a successful audit, two new plugin launches, and the release of a new developer guide. 

The AppData External Plugin went live on mainnet, fully integrated with DAS support. This plugin allows developers to attach and manage custom data directly within digital assets, simplifying tasks like tracking game stats, loyalty rewards, or event ticket statuses (onchain ticketing with AppData example). Third parties, such as marketplaces or event organizers, can update data on assets without needing additional programs. To learn more, devs can watch the explainer video, read the AppData article, or review the developer documentation.

The Edition Plugin for Core became easier than ever to use. With the latest update to the Core UI, creators and developers can create Editions and Prints of their digital assets with no code. Thanks to feedback from the community, Metaplex introduced a unified framework for Editions, making digital asset management simpler and more intuitive.

For those looking to integrate Core into their smart contracts, the new Core Anchor Guide is essential. This guide makes it easier than ever to use Core's single account model in Anchor projects, providing step-by-step instructions and detailed examples on deserialization and cross-program invocations (CPI). It’s designed to streamline the development process and help devs get the most out of Core.

In addition, Madshield completed a Core security audit, which included the latest plugins and updates to the standard. All identified vulnerabilities were addressed, ensuring that Core remains a secure foundation for digital asset creation.

Finally, the recent update on mainnet allows devs to add or remove digital assets within Core collections, offering greater flexibility in managing collections.

EclipseSVM

Metaplex expanded to Eclipse, bringing the power of Solana digital assets to Ethereum’s first SVM Layer 2. With Core, Token Metadata, MPL-404, Candy Machine, and Token Auth Rules deployed, developers can now leverage the same standards and programs that have powered digital assets on Solana mainnet on the Eclipse L2. This move expanded Metaplex’s position as the leading digital asset protocol within the growing SVM landscape.

SonicSVM

Metaplex deployed its product suite to the Sonic SVM, the first gaming focused Solana L2. The deployment included Core, Token Metadata, Candy Machine, and Auth Rules, which are now live on Sonic’s devnet and testnet. Game developers can now use these tools to create new gaming experiences on the Sonic SVM.

Hydra UI Fork

The Hydra UI fork was introduced, making the process of creating and managing Hydra Fanout Wallets easier. This update, a fork of the original Cardinal UI, modernizes dependencies and incorporates automatic priority fees, allowing users to manage their wallets without needing to write any code. Developers benefit from additional ease of use, as existing scripts require no updates to accommodate the new features. This tool is designed to simplify workflows and improve efficiency for those managing multiple wallets.

Compressed NFT Library Upgrade

Metaplex released an update to the Bubblegum JS SDK that makes working with cNFTs simpler. The update automatically trims unused proof data, reducing the size of transactions and making transfers, updates, and burns faster and more efficient. This improvement eliminates the need for additional client-side calculations, simplifying the development process. The upgrade is particularly useful for developers focused on optimizing their applications for speed and efficiency.

Metaplex DAO

Metaplex Protocol Fees & $MPLX Token Purchases

In August, 10,000 SOL was used to purchase 5.0 million $MPLX that was contributed to the Metaplex DAO treasury.

This marks the third $MPLX contribution to the Metaplex DAO. As previously announced, 50% of the Metaplex Protocol’s historical and monthly fees will be used to purchase $MPLX that is contributed to the Metaplex DAO with the goal of supporting decentralization and community governance.

In August, the Protocol generated 7,024 in fees, totaling 127K SOL of cumulative Protocol fees generated.

New DAO Proposal: Metaplex DAO Grants Working Group

The Metaplex DAO successfully passed the proposal to establish the Metaplex DAO Grants Working Group, which will be led by core members of the Dean's List community. This working group will manage targeted grants initiatives aimed at promoting and adopting Core and the MPL-404 framework.

The group’s responsibilities include processing and evaluating grant applications, distributing grants, and driving community engagement through events and discussions. The approved proposal allocated 1,200,000 MPLX tokens from the DAO, and an additional $150,000 in USDC contributed by the Metaplex Foundation to support the grant program.

For more details, find the full proposal.

New MIP: “Public cNFT Fixed Cost Trees”

A new Metaplex Improvement Proposal (MIP) titled “Public cNFT Trees with Fixed Cost-Per-Mint” has passed the feedback period and is awaiting a vote. The proposal aims to simplify the cNFT minting process by offering pre-existing trees within the Bubblegum program that charge a fixed rent cost per mint. This approach addresses the challenges of initializing and funding trees upfront, making it easier for developers to onboard.

Community 

Solana Super Tokyo Conference 

The Metaplex team attended Solana Super Tokyo from Aug. 18th - 22nd, the first major Solana event held by Superteam Japan. The event included a one-day conference, themed workshops and talks, and community engagement activities.

Metaplex’s new Head of BD & Partnerships, Clay Helms, introduced Metaplex and its cornerstone importance to Solana’s digital asset economy to a full crowd at the main conference. The team held office hours multiple days at the local Crypto Cafe, offering personalized developer support and distributing Metaplex merch. Clay also showcased how Helium and Baxus are powering RWAs and DePIN using Core to an audience of top Japanese enterprises during Enterprise Night. And Michael Danenberg, Senior Software Developer, led a workshop on Core’s capabilities during the Tech Night event.

Metaplex also held multiple sessions to refine its Japan growth strategy with Hakuhodo Key3, a leading marketing and innovation company headquartered in Japan. Key 3 is the Web3 venture powered by Hakuhodo, and has supported Web3 activations with Mazda, Japan Airlines, and Calbee. With support from Hakuhodo, Key3 will be an integral player supporting the expansion of the Metaplex community to new Japanese developers, creators, and enterprises.

DSCVR Hackathon

Metaplex contributed 150,000 MPLX to sponsor two specific tracks in the DSCVR Canvas Buildathon. One track focused on NFT and token creation and distribution, while the other targeted media and gaming projects. The hackathon, with a total prize pool of $130,000 USD, continues through September 18th. Metaplex team members, along with other industry leaders, will participate as judges to evaluate the projects built for these tracks.

Naabathon

Metaplex sponsored the Naabathon, the first hackathon dedicated to the Star Atlas ecosystem, alongside leading Solana projects like Cube, MagicBlock, SonicSVM, Triton, and HelloMoon. The hackathon, which featured a $50,000 prize pool, focused on building new applications that interact with Star Atlas programs across various categories, including gaming, digital assets, DeFi, and data visualization. The event concluded on September 7th.

Blinkathon

Metaplex sponsored the Digital Asset Track in the Blinkathon, a global hackathon organized by the SEND Coin with support from other major Solana projects like Superteam, Dialect, Squads and Tensor. Running from Aug. 26th to 31st, the event challenged participants to build projects leveraging the new Blinks and the Metaplex protocol. Developers competed for a $2,500 prize in locked MPLX tokens.

Superteam Germany 

In Berlin, the Colosseum Radar Hackathon kicked off with workshops and talks led by Leo Donatacci, a Metaplex Community Dev. His contributions to the community were recognized by Superteam Germany, who named him Member of the Month.

Application Ecosystem

August was a month of continued growth and innovation within the Solana and Metaplex application ecosystems. Developers shipped new products, feature integrations, and exciting use cases. Here’s a look at the key developments:

• WIDI introduced a new Blinks generator that uses Metaplex’s technology to simplify digital asset launches. This tool makes it easy to launch collections on X, Discord, and Telegram using Candy Machine IDs.

• Star Atlas launched the Crew Packs campaign, and distributed redeemable packs to various communities across the Solana ecosystem, including Metaplex. These packs are redeemable for cNFTs, each representing unique Star Atlas assets. 

• KZNA published a new blog post on why they chose Core, highlighting the customizability and composability inherent to the Core standard

• Banx integrated Core, offering lending and borrowing services for reforged digital assets from popular collections like Aurory, WebWeavers, SolanaSensei, and soon, The Hermans Club.

• DefiLlama began tracking Metaplex on its dashboard, providing greater visibility into Metaplex’s impact on the Solana ecosystem.

• Matrica’s sales bot received an upgrade, now displaying sales from cNFT collections and Core digital assets.

• Fluent transitioned to Core, making the platform more efficient, and cost-effective, offering lower minting costs, faster transactions, and better management features. 

• Dialect introduced Blinks Mobile SDK to allow developers to create Blinks mobile experiences for users.

• Mallow announced Gumball, their open-source tool for pre-minted artwork to be sold in drops, which offers a new distribution mechanism for Metaplex assets.

Creator Ecosystem 

Creators across the ecosystem continued to innovate, building onchain communities and attracting audiences through digital assets. Here are some notable highlights from August:

• MonkeyPOX launched, combining fungible and nonfungible trading activity using the  MPL-404 program. The project quickly gained attention and sparked renewed interest in hybrids.

• Lilypad launched Pathfinders, a digital asset collection powered by Core. Core enabled the Pathfinders team to significantly reduce minting costs and introduce a new “deposit key” mechanism using Liquid Staking Token-NFTs (LST-NFTs).

• Web Weavers launched on Core, the new digital asset collection of the Solana DEX Spiderswap.

• DeWiCats, a unique PFP collection backed by Helium miners, launched on Core and introduced DeWiCat #133, a 1-1 NFT celebrating the Metaplex community.

• Purigotchi migrated to Core, marking a significant upgrade for the Purigotchi collection.

• Bread Heads Studios announced that they are migrating their NFTs to Core and launched a migration tool for other projects to use.

Follow @metaplex on X for ongoing community updates. You can also subscribe to receive these monthly updates directly to your email here. Developers should follow and turn on notifications for @metaplexstatus for the latest updates. To contribute to the Metaplex protocol, engage with us on GitHub or submit a Metaplex Improvement Proposal (MIP) at mip.metaplex.com.

Lastly, thank you to TopLedger for their data support on this month’s round-up. They provide real-time monitoring of Metaplex activity and usage to the ecosystem. For additional Metaplex onchain metrics, please refer to the following link.