Metaplex Introduces New Digital Assets Standard on Solana
Solana-powered framework and protocol, Metaplex, has announced its plans to launch a new standard for immutable digital assets on its platform. This move aims to eliminate the need for external trust assumptions surrounding asset content stored on the Solana network. The announcement comes at a time when the SOL token is experiencing a price surge, which is expected to be further boosted by the introduction of Metaplex’s new standard.
An Overview of Metaplex’s New Standard
The newly revealed standard, called Metaplex Inscriptions and Engravings, focuses on on-chain and immutable digital assets within the Solana ecosystem. Many NFTs in the SOL ecosystem currently store their data on external services, making this standard necessary. Metaplex Inscriptions allows users to store an asset’s metadata and media-related data entirely on the Solana ecosystem, eliminating the need for external trust assumptions. Additionally, Metaplex Engravings adds an extra layer of security to safeguard engraved NFTs against alterations.
Solana Price Surges
At present, the Solana price has increased by 8.77% in the past 24 hours and is trading at $74.91. Over the past seven days, the token has seen gains of 4.13%, with a monthly surge of 22.11%. The announcement from Metaplex is likely to generate further optimism among crypto enthusiasts as it coincides with Solana’s upward momentum.
Hot Take: Solana’s Metaplex Enhances Digital Asset Standard Amid Price Rally
Metaplex’s introduction of a new standard for digital assets on Solana comes at an opportune time as the SOL token experiences a significant price surge. By eliminating the need for external trust assumptions, the new standard enhances the security and integrity of on-chain assets. This announcement has generated excitement in the crypto market and is expected to fuel further optimism among Solana investors. With Solana’s price showing substantial gains recently, the collaboration between Metaplex and Solana holds promising potential for both platforms.
By
By
By
