The non-profit division of the Metaplex Protocol, the Metaplex Foundation on Tuesday announced that it is issuing its token under the MPLX ticker.

https://twitter.com/metaplex/status/1572025136768770048?s=20&amp;t=VuGf218mndFVAGfRN8C9Dw

The company will start distributing 14 million tokens to early community members as of today (Sept. 20) during a several-week claim procedure. Early Metaplex platform builders will receive the first batch of tokens. The Foundation announced in a press release that an additional 40 million tokens would be given to early collectors by a DAO vote.

The Metaplex Protocol was initially introduced in June 2021 as the first software library and set of applications for developers to build, sell, and administer NFTs on the <a href="https://www.cryptoknowmics.com/news/binance-owned-trust-wallet-adds-support-for-solana-dapps">Solana</a> blockchain. Due to the business's reduced mint costs and superior environmental practices compared to NFT enterprises developed on chains like Ethereum (at least, before The Merge), creators were lured to it. NFTs are categorized on Solana using the Metaplex Standard, a metadata standard.
<h2>Metaplex Protocol Released MPLX</h2>
The Metaplex Protocol has released MPLX as a method of decentralized governance for upcoming initiatives and business choices. It will serve as a utility token and governance token.

Metaplex Foundation director Stephen Hess stated that:
<blockquote><em>“It's an honor for us to wake up every day and serve our community as they stretch the edges of the technology. The MPLX Token represents our commitment to empowering creators and flipping the Web2 model on its head by building a platform that can be owned, shaped, and governed by those that use it. "</em></blockquote>
<h2>Simple Agreement for Future Tokens (SAFT)</h2>
In January, Multicoin Capital and Jump Crypto organized a simple agreement for future tokens (SAFT) auction to generate $46 million for the Metaplex Foundation. Other participants were Animoca Brands, Solana Ventures, and Alameda Research.

The drop will at first be posted on the global exchanges FTX, KuCoin, and Huobi. Residents of the United States are unable to buy it.

On the Solana blockchain, NFTs have recently seen a boom. Dust Labs, the organization behind the well-known NFT collection DeGods and earlier this month's $7 million fund-raising announcement, reported $9.6 million in secondary sales of their "y00ts mint t00b" collection. FTX, Jump, and Solana Ventures are among Dust Labs' investors.

Metaplex Foundation To Distribute Governance Tokens to Early Adopters

The non-profit division of the Metaplex Protocol, the Metaplex Foundation, declared on Tuesday that it is issuing its token under the MPLX ticker.

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Metaplex Foundation To Distribute Governance Tokens to Early Adopters

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