Programmable NFTs Spur Metaplex Adoption; Gala Games Makes Moves to Mobile

Intermediate

AI Summary

Quickly grasp the article's content and gauge market sentiment in just 30 seconds!

Daily Top Mover — Metaplex (MPLX)

Major U.S. indices declined as traders likely realized profits before heading into an eventful week, with the Fed’s February meeting and a slew of tech earnings set to induce volatilities. Meanwhile, the broader cryptocurrency market followed in the footsteps of the equities, with Bitcoin and Ether down by 4.12% and 4.49% in the past 24 hours as of the time of writing. The top mover for today, MPLX, registered a 24-hour return of 7.97%, outperforming the broader market as the industry embraces its programmable NFT initiative.

MPLX is the native token of Metaplex, a collection of tools and smart contracts to make the process of creating and launching NFTs easier on Solana. Solana had a vibrant NFT community and was able to challenge Ethereum thanks to the tools offered by Metaplex. The recent outperformance of Metaplex comes as it promotes a new asset class, programmable NFTs (pNFT). Compared to NFTs, pNFTs add more functionality to creators, including enforcing royalties and requiring additional signers, etc. As of the time of writing, the largest NFT marketplace on Solana has completed the pNFT integration, while the integrations with Solana wallets and other DeFi protocols are in the works.

Check Out the Latest Prices, Charts, and Data for MPLX/USDT!

Talk of the Town

Mobile gaming has become an increasingly popular pastime, with 2019 seeing mobile game revenues double year-on-year. Gala Games recognized this opportunity and announced their 2023 plans to move into mobile gaming. With GALA as its primary token, this project is set to offer gamers new ways of engaging with one another and earning rewards for their participation in multiplayer games that span platforms from iOS and Android, to desktop and console.