Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Metaplex Unveils New Game-Changing Features For Solana NFTs

Published 12/19/2023, 09:27 PM
Updated 12/19/2023, 09:45 PM
Metaplex Unveils New Game-Changing Features For Solana NFTs
SOL/USD
-

  • Metaplex announced the launch of Metaplex Inscriptions and Engravings on X yesterday.
  • Metaplex inscriptions allow people to store an asset’s metadata and media fully on Solana.
  • Over the past 24 hours, the price of SOL rose by over 2%, which left it trading hands at $74.46.

Metaplex, a leading digital asset protocol on Solana (SOL), took to X yesterday to announce the launch of Metaplex Inscriptions and Engravings. This new product will change the way NFT data is stored on the blockchain.

Currently, most NFTs on Solana have their media stored on external services like Arweave, IPFS, and S3. In other words, an NFT’s image or metadata is technically not stored “on Solana”, and is therefore dependent on another system completely. Now, Metaplex inscriptions allow people to store an asset’s metadata and media fully on Solana.

This removes any external trust assumptions about other systems, and unlocks “greater composability for on-chain attributes and smart contracts.” Metaplex also…

The post Metaplex Unveils New Game-Changing Features For Solana NFTs appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.