Metaplex set to Airdrop MPLX tokens to Solana NFT Creators

Solana NFTs are on the rise again lately thanks to busy projects like y00ts and ABCand now the creator of the network NFT protocol is striking while the iron is hot: Metaplex has announced plans to launch a token and decentralize governance via a DAO.

Metaplex’s MPLX token was announced over the weekend and will drop today, with NFT creators who used the Solana protocol eligible to receive an as yet undisclosed allocation of tokens. There’s a big caveat, though: US residents aren’t eligible for the airdrop, presumably due to regulatory concerns.

Metaplex plans to open its claim site later today for eligible wallets to receive the MPLX token. The utility token will be used to launch a DAO, or Decentralized Autonomous Organization – an online community where membership is represented via tokens. MPLX token holders will be able to vote on governance proposals regarding the NFT protocol.

“MPLX holders will control the direction of the protocol through the Metaplex DAO, delivering on the promise of a decentralized and community-owned creator platform,” Metaplex tweeted.

According to the Metaplex Foundation, the protocol has been used to mint 20 million Solana NFTs to date, generating more than $3.5 billion in sales between initial and secondary sales. All told, Metaplex says more than 2.4 million creators and collectors have interacted with such NFTs, though it’s unclear how many qualified creators are in the mix.

Metaplex took a snapshot of eligible creators on 24 Augustaccording to a tweet response, meaning only users who created NFTs via Metaplex at the time of the snapshot will be eligible.

In addition, Metaplex wrote that the creators of projects that were considered “carpet covers”– that is, creators who took money from users and then disappeared and/or didn’t keep promises – will be filtered out of the airdrop. The company said it enlisted digital asset compliance firm TRM Labs to help it remove such projects from the token airdrop.

“There is no room for carpet covers in Metaplex DAO,” Metaplex tweeted.

However, the term “rug pull” can mean different things to different collectors, and the criteria for airdrop exclusion are currently unclear. Decrypt asked a Metaplex representative for additional details, but did not immediately receive a response.

Metaplex Foundation raised $46 million in a round led by Multicoin Capital and Jump Capital in January, with Animoca Brands, Solana Ventures and Alameda Research also on board. More than 90 individual investors also participated, including basketball legends Michael Jordan and Allen Iverson.