Metaplex protocol revenue hits record $3.5 million in November, with significant growth in user engagement
TechFlow Selected TechFlow Selected
Metaplex protocol revenue hits record $3.5 million in November, with significant growth in user engagement
As the core protocol behind nearly every token creation on the Solana network, Metaplex has become the biggest beneficiary of the surge in digital asset creation.
Navigating Web3 tides with focused insightsAuthor: Metaplex
Compiled by: TechFlow
Metaplex is the blockchain protocol used to create nearly all tokens, memecoins, and NFTs on Solana. With the surge in digital asset creation on the Solana network, the protocol's fees reached an all-time high in November.
Solana Token Creation Surge Drives Record Growth for the Protocol
As the core protocol behind nearly all token creation on the Solana network, Metaplex has become the biggest beneficiary of the explosive growth in digital asset creation.
This burst of activity—including widespread creation of memecoins, AI tokens, and NFTs—has directly driven growth in Metaplex protocol fees. This increase in fees, in turn, funds the purchase of $MPLX tokens for the Metaplex DAO.
Since June 2024, 50% of monthly protocol fees, along with portions of historical fees, have been allocated to purchasing $MPLX tokens to support the DAO.
In November 2024, Metaplex used funds worth 12,000 SOL—approximately $3 million at current prices—to buy $MPLX tokens. This marks a 58% month-over-month increase and represents the largest single-month $MPLX token purchase to date.
Building on this momentum, Metaplex generated a record $3.5 million in protocol revenue in November, setting the stage for even larger $MPLX purchases in December.
Metaplex Protocol’s Record-Breaking Performance in November
Protocol activity in November set multiple all-time highs:
-
Metaplex excelled in fungible token creation, minting 1 million new tokens—a 56% month-over-month increase compared to October 2024’s previous high—and establishing a new monthly record. This accounts for 94% of all token metadata assets created, largely driven by memecoin activity on platforms like Pump.fun.
-
Metaplex Core, the next-generation NFT standard, saw significant adoption, creating 354,000 assets—the highest monthly volume to date—thanks to its flexible design enabling broader use cases.
-
User engagement metrics rose sharply, with the number of unique wallets interacting with the Metaplex protocol reaching 879,000—an increase of 34% from October and a new record. The protocol’s total collector base expanded to nearly 60 million unique wallets, adding over 860,000 in November alone.
About the Metaplex Protocol:
Metaplex is the leading decentralized protocol on Solana and SVM, providing developers and creators with tools and programs to build decentralized applications powered by digital assets. With an expanding user base and continuous investment in innovation, Metaplex is driving the next wave of decentralized finance and commerce.
About the Metaplex Foundation:
The Metaplex Foundation is a nonprofit organization based in the Cayman Islands dedicated to supporting the development and growth of the Metaplex protocol. By providing open-source tools and resources, the foundation empowers developers, creators, and users worldwide to participate in a decentralized and inclusive digital economy.
Website: https://www.metaplex.com/
Discord: https://discord.com/invite/6FaDSP2zms
Contact
Marketing
Dan
Forgd
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@metaplex
