Building from scratch is hard. Especially in Web3. Having done it multiple times, on multiple blockchains, we can attest that nothing is better than simple, straightforward solutions when it comes to building.
So the simpler the process is, the easier it is to get people to build in Web3. The more people start building in Web3, the more adoption this space gets—you get the drill!
That’s why protocols like Metaplex exist. Metaplex provides tools and standards for launching and creating NFT collections in the Solana ecosystem.
Even if you haven’t heard of them before, you’ve probably heard of NFT projects they helped launch: Okay Bears, DeGods, Degenerate Ape Academy and more were made possible by Metaplex tooling. With over 15 million NFTs minted and over 100,000 projects supported, it has grown to become the biggest provider of NFT tooling in the Solana ecosystem. In fact, nearly every NFT minted on Solana has been powered by Metaplex.
We partnered with Metaplex to launch our Solana integration earlier this year, both on the Rarible protocol and Rarible.com marketplace level.
We loved their product, so we wanted to tell you more about it and how you can enjoy the vast NFT ecosystem of Metaplex—either as an enthusiast who uses Rarible to create and trade NFTs, or someone looking to launch their own collection.
Escrowless NFT Transactions with Auction House
Metaplex is the digital asset standard on Solana. They make it simple to create NFTs by providing a common standard that creators, collectors and builders can all use effectively.
One of the Metaplex Protocol’s on-chain tools we use at Rarible is called the Auction House. The program lets you list Solana NFTs without losing access to them.
So instead of keeping your NFTs in a centralized escrow wallet during the listing, Auction House lets you hold full custody of your NFTs until they sell. The NFT(s) and funds are directly exchanged between you and the seller—meaning no middlemen and more control for both of you!
It also means you get to enjoy the benefits of your NFTs until they sell. You’ll still be in the token-gated communities, receive airdrops and access any token-gated content until the moment your NFT sells. Additionally, using Auction House’s escrowless exchange lets you list on multiple marketplaces, which increases listing visibility! Much like other tools coming from Metaplex, the Auction House program is fully-audited and open-source.
More tools for building communities and projects
Of course, Metaplex is much more than its Auction House program. They offer a whole lot to builders and creators in the community, including:
● Developer tools: With standardized tooling such as SDKs and smart contracts, creating NFT collections, marketplaces and other dApps becomes easier.
● Community: If you want to reward your community with airdrops, token-gate your Discord or integrate with other social platforms, Metaplex streamlines the process with its free and open-source tools.
● Security: Stay safe from bots, impersonators and other bad actors.
● Mint directly: Turn your art into NFTs by minting 1:1s, editions or collections.
We want to make sure you truly own your NFTs instead of creating risks by taking custody of your NFTs. We also want you to have more control over your assets, and the Auction House program ensures exactly that.
We use also Metaplex infrastructure to keep the Degenerate Ape Academy marketplace, Rarible Protocol and Rarible’s Solana marketplace running smoothly. To keep up-to-date with Solana's largest NFT ecosystem, follow them on Twitter at @metaplex.