Summary
TLDR: The Metaplex Foundation is launching a new NFT standard for Solana called Core that is cheaper to mint, easier for developers to work with, and requires less network compute. It aims to optimize cost, extensibility, and performance for NFTs on Solana, with reduced minting costs and improved network performance. The Core standard also supports advanced collecting mechanics, plugin support for additional features, and improved compatibility between NFT standards on different chains. The Foundation plans to have Core ready on Solana mainnet by NFT NYC in April and is committing 50% of all-time fees from the Metaplex protocol to the Metaplex DAO treasury via the MPLX token for community voting on further adoption.
Key Points
1. The Metaplex Foundation is launching a new NFT standard for Solana that is cheaper to mint and requires substantially less network compute, cutting mint costs and network demand by more than 80% compared to the existing Token Metadata standard.
2. The new standard, called Metaplex Core, is focused entirely on NFTs and has been streamlined for developer use, reducing the number of Solana accounts that need to be interacted with, improving network performance for Solana more broadly.
3. Metaplex Core comes with substantial plugin support, allowing developers to add additional features such as built-in staking and asset-based point systems, unlocking advanced collecting mechanics on Solana and enabling improved compatibility between NFT standards on other chains.