- Solana NFTs is the new meta powered by Metaplex.
- Metaplex is the largest NFT tools provider with 15 Million NFTs minted and 100,000 projects supported in the Solana ecosystem.
- Auction is one of the main tools of Metaplex used at Rarible.
Over the official Twitter account, Rarible mentions that Solana NFTs are now becoming the new meta. Also, most of them will be powered by Metaplex.
Metaplex is an open-source protocol that grants the production and minting of NFTs, adopting a standardized format across wallets and applications. In the past, Metaplex has also helped projects like – Okay Bears, DeGods, and Degenerate Ape Academy to launch.
If we see currently, with over 15 Million NFTs minted and around 100,000 projects assisted, it has expanded to become the largest provider of NFT tools in the Solana ecosystem. In fact, Metaplex has powered almost every NFT created on Solana.
The team earlier this year collaborated with Metaplex to bring out Solana Integration, both on the Rarible protocol and Rarible.com marketplace level.
The Metaplex protocol is the digital asset standard on Solana, and it offers tools and standards for developing and building NFT collections in the Solana ecosystem.
Auction House is one of the crucial on-chain tools of Metaplex Protocol that is used at Rarible. It allows you to list Solana NFTs without dropping access to them.
Rather than putting your NFTs in a central escrow wallet during the listing process, Auction House allows you to maintain complete control over your NFTs until they are sold.
As the NFTs and the funds are directly traded, and there are no middlemen involved in the process, it gives you and the seller more control. It also adds joy to experience the benefits of your NFTs until you sell them.
Also, Auction House’s escrowless exchange increases listing visibility as the exchange allows users to list on multiple marketplaces. Finally, the Auction House program is totally audited and open source like other tools of Metaplex.