Metaplex Unveils New Game-Changing Features For Solana NFTs

• Metaplex announced the launch of Metaplex Inscriptions and Engravings on X yesterday.
• Metaplex inscriptions allow people to store an asset’s metadata and media fully on Solana.
• Over the past 24 hours, the price of SOL rose by over 2%, which left it trading hands at $74.46.

Metaplex, a leading digital asset protocol on Solana (SOL), took to X yesterday to announce the launch of Metaplex Inscriptions and Engravings. This new product will change the way NFT data is stored on the blockchain.

1/ Introducing Metaplex Inscriptions and Engravings, a new standard for fully on-chain and immutable digital assets on Solana

— Metaplex (@metaplex) December 18, 2023

Currently, most NFTs on Solana have their media stored on external services like Arweave, IPFS, and S3. In other words, an NFT’s image or metadata is technically not stored “on Solana”, and is therefore dependent on another system completely. Now, Metaplex inscriptions allow people to store an asset’s metadata and media fully on Solana.

This removes any external trust assumptions about other systems, and unlocks “greater composability for on-chain attributes and smart contracts.” Metaplex also…

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