Fresh-thinking NFT ecosystem, Metaplex, recently stunned the good folk of Lisbon with a series of important announcements, including the creation of a vital new asset class – compressed NFTs and a collaboration with mischievous artist, Beeple.
Speaking at the Solana Breakpoint Conference in Lisbon, Metaplex voiced its own concerns regarding the ‘great creator royalty debate’. Essentially, pledging to create a brand-new Solana asset class that would manage royalty payments entirely on-chain to prevent collectors from simply avoiding the payment by using an optional royalty marketplace.
“Metaplex will be the open platform that accelerates digital communities” says @meta_hess, co-founder and CEO of @metaplex. #SolanaBreakpoint pic.twitter.com/63pLu54dYa
— Solana Breakpoint | 🚋 LISBON Nov. 4-7 (@SolanaConf) November 6, 2022
In addition, the Solana pioneer also announced the arrival of its innovative new ‘compressed NFTs’. An update that allows Metaplex to use on-chain compression to dramatically lower the storage and minting costs of NFTs, resulting in a protocol that can mint a remarkable 1 million NFTs for just 5 SOL, a 99.996% in the original cost.
Last but not least, Metaplex also revealed a new NFT art project with perhaps the most famous creator of them all, Beeple. Therefore, seeing the duo collaborate with the amazing Render Network to produce an interactive 3D NFT experience. One rumored to give collectors the chance to build their own ‘Everyday’ artworks from a set of randomized components.
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