Metaplex

Metaplex was created for a unique purpose — to place creators and artists above the influence of traditional gatekeepers. The protocol has evolved to be utilized by these artists and creators to launch their self-hosted NFT storefronts easily. Now, Metaplex serves as a “WordPress” for NFT creators.

With Metaplex, creators and brands can easily interact with their audience. Independent creators can reinvent the way NFTs are minted, sold, and used on the protocol.

Benefits of Metaplex NFTs

Metaplex NFTs offer a diverse selection of benefits for creators and artists. The platform offers on-chain building and auctions powered by the Solana blockchain. In addition, the average minting cost is less than a dollar and attracts zero platform fees. It also offers open-source or permissionless creation and decentralization. When a storefront is created, it connects to a powerful on-chain program that mints just NFTs. However, the storefront can administer fully on-chain auctions, taking out the middleman and their fees from NFT transactions. On-chain auctions offer powerful formats, with instant payouts and NFT transfers. Creators/artists can create limited or open editions for fans or run tiered auctions where collectors have to bid for NFTs assigned to specific tiers.

On-chain building means that creator splits and perpetual royalties can be hard-coded into the NFT. When an auction ends, there will be automatic payouts with self-executing royalties upon resale. All these are carried out without the need for paperwork, trust, or wire transfer.

Creators and artists do not have to worry about storage. NFT media of any size is stored permanently on Arweave — a data storage blockchain protocol that supports permanent data storage. Therefore, NFTs minted on Metaplex will be immutable. The open-source feature means that anyone can develop plugins and integrate Metaplex auctions and NFTs in their applications.