Key Points

Metaplex (MPLX) saw a significant rise of over 13% in 24 hours on CoinMarketCap.
MPLX is now trading above $0.36.

Metaplex (MPLX) recorded a significant rise in price in the past 24 hours of over 13%, according to data from CoinMarketCap.

At the moment of writing this article, MPLX is trading above $0.36. The total market cap of the token is currently about $90.5 million.

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On May 8, the team behind Metaplex announced via X that the Metaplex Startup Program went live. They also shared the introduction of the inaugural cohort.

The team behind the project notes that the program is designed to empower the next generation of digital assets and NFT-centric startups on Solana.

https://twitter.com/metaplex/status/1788248655226610029

The other day, Metaplex shared info about important partnerships. In a post on X, Metaplex revealed Ottersec, one of the most respected security audit firms in the ecosystem, as their partner in the Startup program.

They will reportedly be providing code review and helping program participants ship SAFU code.

https://twitter.com/metaplex/status/1788948710895882408

Metaplex also revealed another partnership with SkyRise. The team noted that the end-to-end growth architects at Sky Rise Labs will guide their participants in developing a market strategy in order “to achieve liftoff.”

https://twitter.com/metaplex/status/1789004738006249920

What is Metaplex (MPLX)?

Metaplex is a decentralized protocol for the creation, commerce, and use of digital assets on the Solana blockchain.

Metaplex offers utility programs such as Packs, Fusion, “Entangled,” and Encrypted NFTs. Programs such as Gumdrop and Hydra are facilitating the distribution of tokens.

The Metaplex protocol has four components:

The Digital Asset Standard – defining the metadata structure for NFTs, enabling interoperability across participants in the Solana NFT ecosystem
The Metaplex Program Library – including various infrastructural protocols providing on-chain functionality for creating, selling, purchasing, and trading NFTs
Advanced Developer Tools and SDKs streaming – abstracting away the complexity that makes blockchain development inaccessible to many
MPLX – the utility and governance token for the Metaplex protocol

Overall, according to the team behind the project, they are powering the digital asset economy on Solana.

Tags: Metaplex