Metaplex October Round-up

Highlights

  • Fungible Tokens - 907k new fungible tokens were created through Metaplex, an all-time high and 154% increase MoM
  • Core Adoption - Over 800k assets have now been minted with Core, including 346k in October, an all-time high and 54% increase MoM
  • Token Metadata Optimization - A final program optimization was launched that reduces Token Metadata’s onchain footprint before the program is made immutable
  • Protocol Fees - Protocol fees increased 96% MoM to 10,944 SOL, driven by an uptick in memecoins created and new Core mints
  • $MPLX Token Purchases - 10,000 SOL of Metaplex Protocol fees were used to purchase 3.25M $MPLX, which was contributed to the Metaplex DAO

Protocol Activity

There were 994k Token Metadata assets created in October, a 99% increase in TM assets created MoM. 907k or 87% of TM assets created were fungible tokens, marking the highest number of fungible tokens ever created in one month and a 154% increase MoM. This increase in Token Metadata assets was driven in large part by a surge in memecoin activity on platforms such as Pump.fun. There’s now been more fungible tokens (4.7M) than NFTs (4.0M) created through Token Metadata so far in 2024.

October was also a record month for Core asset creation. There were 346k Core assets created in October, the most Core assets created ever in one month and a 54% increase MoM. 

In total, creators and developers minted 29 million digital assets through Metaplex in October, including 27.5 million compressed NFTs. This represents a 40% increase MoM in digital assets minted, driven by the increase in mints across all standards.

657k unique wallets directly signed transactions with the protocol in October, an increase of 57% MoM.

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

As of October, the total number of Metaplex collectors reached nearly 59 million unique wallets, an increase of over 1.3 million wallets month-over-month.

Developer Platform

Aura

Following its initial announcement in September, Aura transitioned to its private beta phase, marking the next step towards decentralized, high-performance indexing & data availability (DA) for Solana. During this beta phase, select developers will receive early access to indexing powered by Aura.

Designed to make onchain data more accessible, Aura delivers unified data access, the latest Digital Asset Standard (DAS) methods, and best-in-class indexing performance. Already demonstrating lightning fast response times, Aurawill continue to be improved upon through developer feedback and refinement during the beta. Following the beta, Aura access will be opened via a public gateway and network landing page, aggregating all asset-related read requirements into one highly accessible, performant package.

Developers interested in accessing the beta can fill out this form for consideration.

Core

October’s 346k Core mints were another monthly all-time-high and brought the cumulative Core mint count over 800k. Alongside this growth, two new Core Candy Machine Guards were released. These new Core Candy Machine Guards were successfully deployed to both Solana and the Eclipse mainnet:

  • Vanity Mint Guard - Allows mints only if the public key matches a specified pattern, adding new possibilities for exclusivity.
  • Asset Gate Guard - Restricts mints to users holding assets from a specified collection, offering gated access to minting events.

Token Metadata Optimization

In preparation for Token Metadata’s full immutability, a new optimization was deployed on Solana mainnet that minimizes the program’s onchain footprint. This enhancement reduces the size of all new TM accounts, lowering storage costs and easing validator workloads by minimizing onchain state data. These benefits ultimately contribute to a less congested, more efficient network.

Following this deployment, Metaplex introduced the same optimization for existing Token Metadata accounts by allowing NFT holders to optimize the network directly using a new Resize instruction. This instruction also enables the release of excess SOL not previously accessible without fully closing (aka burning) the Token Metadata accounts.

To facilitate access to this new benefit, Metaplex also provided a free, no code UI for NFT holders to execute the Resize instruction. Other ecosystem teams have also released alternative tools that offer a paid service for processing the Resize instruction, such as Sol Incinerator (5% of the resize amount). 

There are ~25.7M eligible Token Metadata NFTs with Token Metadata accounts that are eligible to be resized (as of October 30th). 0.0023 excess SOL can be claimed per Master Edition and 0.0019 excess SOL can be claimed per Edition.

NFT holders have until April 25, 2025 to proceed with this optimization. We encourage all NFT holders to take advantage! After this window, any remaining TM accounts that have not been resized will be optimized and the resulting excess SOL will be contributed to the Metaplex DAO. The DAO will decide how the excess SOL is used, for example via airdrops to community members, grants to ecosystem builders, or other initiatives.

Please check out the FAQ if you want to learn more.

Bubblegum

In October, Metaplex deployed updates to the Bubblegum program to mainnet, following its initial release on devnet in September. This update includes support for expanded tree sizes enabled by SPL Account Compression, enhancing scalability for cNFTs on Solana and the SVM. Additionally, a minor but important change was implemented to align Bubblegum’s metadata management with the Token Metadata standard: updating metadata via a delegate now requires the Data role rather than the Collection role, providing more consistent behavior and increased security.

In addition, a new JavaScript package was published to support these updates, allowing developers to integrate and utilize Bubblegum’s expanded features more seamlessly.

Documentation & Developer Guides

​​In October, Metaplex introduced several new guides to support developers building with Metaplex:

  • Serializing and deserializing transactions with Umi - This guide explains how to manage transactions on Solana by serializing and deserializing them using Umi, enhancing efficiency for developers working with transaction data, and providing an approach that enhances security and control, particularly for digital asset creation workflows.
  • Creating Core assets with JavaScript or Anchor - A practical guide that walks developers through creating Core assets step-by-step using JavaScript or Anchor.
  • Creating a Core collection with JavaScript or Anchor - This guide covers how to create collections of Core assets, by grouping and configuring these assets together under a single collection.
  • UMI documentation update. An updated reference guide consolidates Umi’s functions to simplify the use of native Solana programs, ensuring developers can quickly access essential resources for a better developer experience.
  • How to create 1 Million NFTs with Bubblegum - An in-depth guide which demonstrates how to leverage the scalability of cNFTs using Bubblegum, detailing how to set up a Merkle tree structure for minting large numbers of compressed NFTs while keeping costs low and efficiency high on Solana.
  • Diagnosing transaction errors on Solana - A practical troubleshooting guide for developers facing transaction errors on Solana. It covers how to skip pre-flight checks to log failed transactions on-chain, making it easier to share diagnostic data and resolve issues more efficiently.

Metaplex DAO

Metaplex Protocol Fees & $MPLX Token Purchases

In October, 10,000 SOL was used to purchase 3.25 million $MPLX that was contributed to the Metaplex DAO treasury.

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

In October, the Protocol generated 10,944 SOL in fees (+96% MoM), totaling 144K SOL of cumulative Protocol fees generated.

MIP-10: Optional Deterministic cNFT AssetID Approved

In October, the MIP-10: "Optional Deterministic cNFT AssetID" was successfully voted on and approved by the DAO. This proposal introduces an optional feature allowing developers to determine cNFT Asset IDs before minting, which improves the developer experience by simplifying workflows and enhancing predictability in asset management. With MIP-10 now officially adopted, developers can expect a smoother, more controlled experience when managing cNFT assets on Solana.

Community

Hacker House Hong Kong

In October, the Hong Kong Solana Hacker House brought together developers, industry leaders, and the local community for a three-day event. Metaplex attended the event, where attendees engaged in presentations, networking, and skill-building focused on the Solana ecosystem.

Metaplex’s involvement included two standout sessions: Mack, the Head of Strategy, led a panel on expanding adoption through the Solana Virtual Machine (SVM) alongside representatives from Sonic, Eclipse, Zeus Network, and Soon. Additionally, community developer, Leo, hosted a hands-on workshop on building with Metaplex, drawing strong interest from developers. Branded merch was shared with attendees, sparking new connections within the Solana community.

IslandDAO

Metaplex participated as a sponsor at IslandDAO 2.0, the month-long coworking event in Koh Samui where builders and developers in the Solana ecosystem connected and collaborated. Among the many talks and activities hosted by builders, Metaplex presented several notable workshops. Community developer, Leo, held a workshop titled “How to NOT be technical”, which offered insights for developers on how to be more effective reaching and communicating with non-technical people; while community developer, Tony, hosted a session on the AppData Core plugin. Attendees also enjoyed exclusive Metaplex merch kits, distributed onsite.

RADAR Hackathon Superteam Sidetracks

The RADAR Hackathon sidetracks, hosted by Superteam, concluded with impactful projects emerging in the two Metaplex-sponsored tracks. Winning projects received a total of 56,000 locked $MPLX for their contributions.

In the Future of Digital Assets global track, which called for innovative applications of the Metaplex suite, the winning projects included:

  • 1st place. Project Selyo, a hardware-software solution offering QuestCards, NFC-enabled products allowing event organizers to create interactive, onchain experiences for attendees, including action tracking for raffles and prizes.
  • 2nd place. Purr-fect Chaos, a fully on-chain SocialFi game on Solana, combining strategic gameplay, a competitive reward system, and cats.
  • 3rd place. Q-drop Adventure, an RPG game designed to advance web3 knowledge through interactive quizzes.

In the Building with Core local track, hosted by Superteam Germany, OpenShelf claimed the win. OpenShelf is redefining the attention economy, offering a content platform where creators earn directly based on engagement and impressions, aligning rewards with meaningful content interaction.

Application Ecosystem

October saw significant growth across Solana and Metaplex’s application ecosystem as developers launched new products, added features, and explored innovative use cases. Here’s a look at some highlights from the month:

  • Pump.fun introduced Pump Advanced, a new trading terminal offering integrated mini charts, top-holder stats, and social activity tools, specifically optimized for memecoins.
  • Arcium's Citadel and the Four Fortresses campaign concluded. Participants earned Core NFTs while embarking on a journey through the four themed fortresses: AI, DePin, Gaming, and DeFi, which contained different learning experiences focused on confidential computing.
  • Blockworks Research provided a detailed update on Metaplex's expanded ecosystem, highlighting the Metaplex Aura Network.
  • MetaWealth, a real estate RWA platform that uses Core as one of the tokenization standards, launched Greece’s first tokenized real estate investment with Urban City 44 in Athens, opening up opportunities for small-scale real estate investors.
  • Truffle announced that Core Editions are now available on the platform, enhancing cost efficiency by reducing on-chain minting expenses. In addition, Truffle also rebranded its "Generative Drop" feature to "Random Mint", making it easier and more affordable for creators to launch art collections.
  • Privasea and Gate.io partnered to integrate Proof-of-Humanity verification using Metaplex NFTs, allowing biometric data storage for secure identity verification.
  • RugCheck now supports Metaplex’s MPL-Hybrid (404) program, allowing it to detect hybrid escrows and accurately display token status on its website.
  • Mallow launched Collaborative Gumballs, allowing users to co-create and co-sell artwork through shared Gumball machines, including a revenue split.
  • Layer3 went live on Solana, aiming to become the "consumer fun hub" by integrating and launching quests with top Solana protocols
  • Helium partnered with American Bandwidth to add over 100,000 data-only hotspots in the U.S., advancing people-powered connectivity across major commercial areas.
  • Hivemapper entered mass production for its Bee Dashcam, set to begin shipping in Q4, aiming to revolutionize community-powered mapping.
  • SEND launched its game, SEND FOMO, that uses Core digital assets. In this unique setup, players mint keys with a progressively increasing price, aiming to be the last minter to win a treasure vault. Each mint resets a 24-hour timer, and players can trade keys on secondary marketplaces.
  • Solscan rolled out new features, such as account tags for easier navigation, CSV export for managing token holders, and an updated Stablecoin Dashboard v2.0, designed to enhance asset management.
  • SolanaID did a community airdrop for Priority Pass holders, offering PFPs in collaboration with The Hermans Club and Solana Sensei.
  • Play Solana distributed PSG1 Soulbound NFTs to pre-order participants as part of its digital assets strategy, marking the beginning of their journey on the platform.
  • SayDialect introduced several new features, including Action Chaining, Advanced Input Types, and Multichain Compatibility, expanding the possibilities for user interaction and engagement.
  • AgriDeX, an agricultural RWA platform, expanded its partnerships with Metaplex-enabled projects, including MadLads, Famous Fox Federation, and Grim Syndicate.

Creator Ecosystem 

October saw creators across the ecosystem continue to push boundaries, building onchain communities and engaging audiences through digital assets. Here are some of the most notable highlights from this month:

  • Jungle launched on Magic Eden Core’s launchpad as the first Metaplex Core project launched through the platform.
  • Coop Records partnered with Magic Eden to release 10,000 editions of nimino's viral hit "I Only Smoke When I Drink. With over 30 million streams in two months, this record drop marks a major milestone for nimino and Coop Records. Powered by Core, the launch was also supported by Layer3 for distribution.
  • Bad Environment Club introduced new NFC-enabled streetwear powered by Monstre and Core where buyers can engage with digital experiences through their apparel.
  • LaunchMyNFT announced Creator’s Initiative Season 2 encouraged creators to submit art, with selected entries receiving ongoing platform support. They also announced a snapshot being taken.
  • Lucid Drakes introduced Lucid Ventures, a Solana-focused venture syndicate to back ecosystem founders, providing exclusive investment opportunities for their holders.
  • The Claynosaurz shop launched its physical collectibles, featuring limited-edition plushies, collector pins, and more.
  • Star Atlas released a new gameplay video, showcasing its latest in-game features and improvements to its visual capabilities.
  • FaenoraVerse, an onchain game powered by MPL-404, surpassed 2,500 players pre-launch.
  • Killaverse expanded into the MPL-404 ecosystem in collaboration with Mutant Labs, enhancing its community and project features.
  • The Hermans Studio went live and enabled holder customizations for Hermans with seasonal and limited-edition traits from popular artists, creating more personalization within the collection.
  • Metalcore, a PvPvE 3rd person shooter, announced its migration to Solana. The Metalcore team has partnered with GameShif in an effort to simplify the onboarding process for web3 and web2 players.
  • Cyber Frogs announced their Auto Trading feature being live on $SOL, $JUP and $BONK, exclusive to their Frog NFT holders.
  • Bloodcoin launched the Crimson Cavern staking program, an interactive staking journey incorporating Metaplex Core to offer RPG-inspired gameplay.

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.