Solana's New Core NFT Standard by Metaplex Aims to Lower Costs, $15M Revenue, 50% Fees to DAO

Solana's ecosystem is poised for a significant evolution with the introduction of a new NFT standard named Core by Metaplex. This next-generation standard is designed to enhance the efficiency of the Solana network by reducing compute requirements, increasing throughput, and offering unprecedented cost efficiency for NFT minting. Core, now live on Devnet, allows for all key data of digital assets to be stored in a single on-chain account, promising the lowest minting costs compared to token-based alternatives. In addition, Metaplex has announced that 50% of all-time fees collected will be allocated to the MPLX DAO, empowering them to decide on potential rewards or incentive programs. This move is expected to further enrich the Solana ecosystem, already facilitated by Metaplex, which accounts for 99.9% of all NFT mints on the platform and has generated approximately $15 million in revenue since March 2023.