1. Metaplex recently announced a new upgrade that will enable the enforcement of royalties for Solana NFTs.
2. This upgrade will allow NFT creators to earn a share of the profits every time an NFT created finds a new buyer.
3. Solana’s NFT trade volumes have been affected by the bearish market conditions, however this new upgrade may encourage more creators to adopt the Solana blockchain and lead to an increase in NFT trade volumes.
As Solana [SOL] continues to rise in popularity, its NFT platform Metaplex recently announced a major upgrade. This upgrade will enable the enforcement of royalties for Solana NFTs, allowing creators to earn a share of the profits every time one of their NFTs finds a new buyer. This is a major step forward for the Solana blockchain, as it could potentially encourage more creators to adopt the platform and lead to an increase in NFT trade volumes.
The Metaplex upgrade is set to launch on 6 January, allowing creators to implement royalties and even set their own optional rule sets. This is big news for the Solana blockchain, as it could prove to be a major advantage over other projects. The ability to earn royalties from their NFTs could be a major incentive for creators, who may be more likely to switch to Solana if they can make more money from their creations.
The news could also be good news for Solana investors. If the platform sees an influx of new creators, then it could lead to an increase in NFT trade volumes. This could have a positive effect on the price of SOL, as more demand for the token would drive up its value. However, investors should keep a close eye on the market and be aware of any potential selling opportunities that may arise.
Ultimately, the new Metaplex upgrade has the potential to make Solana more attractive to NFT creators and increase demand for SOL tokens. This could be a huge boost for the project, and it will be interesting to see how things develop in the coming months. If all goes well, we might see a much more vibrant NFT landscape in 2023.