'Shopify for NFTs' Launched on Solana Blockchain

Does the world need another place to get NFTs? That's what the team at Solana, an emerging vibrant blockchain thinks. Even as the hype surrounding NFTs – also known as immutable tokens – is starting to cool, the Solana team sees an opportunity to introduce a new style of NFT platform that gives artists more control. The name of the platform is Metaplex. It is an open-source protocol built on Solana, which its creators compared to Shopify, the popular service that allows small businesses to set up an e-commerce site. Or if you prefer a different metaphor, the team compares NFT offerings to WordPress, a popular publishing tool that allows people to run websites without knowing much about the code. According to product manager Stephen Hess, Metaplex is aimed at creators who appreciate flexibility and low costs. Unlike some popular ETF forums like Nifty Gateway, Metaplex is decentralized, meaning artists have more control over when their work drops. And since Metaplex is not currently on Ethereum, which is plagued by high gas costs, the cost of offering NFT is minimal. “It costs as much as it takes to communicate with the Solana protocol,” Hess says, adding that it costs 35 cents to print an NFT and $3 to hold an auction. can run into thousands of dollars. Metaplex's talk has already resonated with some in the creative community, including Grammy-winning artist RAC and digital sneaker maker CryptoKickers. Both are launching NFT stores built on Metaplex, and RAC's store, known as ONO, plans to drop an artist's first offering on Thursday, called BLOND:ISH. As Metaplex gains traction, the result may be more artists and creators launching NFT markets under their own brands rather than relying on centralized forums. In addition to additional control over their work, Metaplex also allows marketplace owners to encode NFTs in such a way that the original artist is noble.

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