- Metaplex will launch an MPLX token on September 20th, 2022.
- The company will also be doing an airdrop for NFT creators.
- Now, the users will govern the Metaplex platform.
The Solana NFT protocol creator, Metaplex is introducing DAO on its platform. The network will be launching MPLX tokens which will be used by the users to participate in the governance activities on the platform.
MPLX holders will steer the direction of the protocol through the Metaplex DAO, delivering on the promise of a decentralized and community-owned creator platform,
The token launch was announced last weekend and it will be dropped on September 20th, 2022. The NFT creators who use the Solana protocol will be eligible to receive the MPLX tokens. However, US citizens will not be eligible for token airdrop due to the country’s regulatory guidelines.
The tokens will be primarily used by the users to introduce decentralized governance that is DAO on the network. The MPLX tokens will represent the exclusive membership and the token holders will be able to vote on important governance proposals related to the NFT protocol.
Solana NFTs are on the rise which is evident from Metaplex’s claims that the protocol has been used to mint over 20 million NFTs on the Solana network. The firm told that there are over 2.4 million creators. However, they are unsure of the eligible creators on the network.
On August 24th, 2022, Metaplex took a snapshot of the eligible creators who will be receiving the airdrop. It means that those creators who were super active before and at the time of the airdrop to mint NFTs on the network will be considered eligible for the token airdrop.
Recently, Metaplex Foundation raised $46 million in its fundraising round. It was led by Multicoin Capital, Jump Capital, Animoca Brands, Solana Ventures, and Alameda Research.