Metaplex's Latest Updates Have Community Members Riled Up

Metaplex, a company that creates NFT tools for creators and developers on the Solana blockchain, introduced protocol update plans for its token metadata program yesterday, drawing community backlash.

Timeline of Metaplex

The Solana ecosystem continues to take the hardest of hits following the implosion of FTX which used to be one of the world's largest cryptocurrency exchange platforms. Its native token, SOL, gravely suffers as the altcoin has already lost 62% of its value over the last two weeks.

Stephen Hess, Co-founder and Chief Executive Officer (CEO) of the Solana NFT protocol Metaplex, has announced that it is laying off several individuals in the wake of FTX's collapse.

NFT protocol Metaplex is laying off staff due to to the "indirect impact" of the FTX collapse. The post Solana-based Metaplex lays off staff following FTX collapse appeared first on The Block.

Metaplex is the latest company to be affected by FTX's contagion as it laid of several employees. However, the protocol claims to have no direct exposure to the bankrupt crypto exchange.

The crash happened as Metaplex announced a second airdrop for early collectors that weren't covered in the first distribution. The post Metaplex token crashes 60% amid second airdrop appeared first on The Block.

Metaplex Foundation has announced the successful launch of its utility and governance token named Metaplex (MPLX). Beginning on September 20, 2022, the MPLX token will be airdropped to eligible non-US early adopters of Metaplex, Solana's leading NFT protocol.

The Metaplex Foundation said that early adopters and collectors will benefit from the drop of MPLX tokens. The post Metaplex Foundation to airdrop governance tokens to early adopters appeared first on The Block.