Metaplex, a protocol powered by Solana SOL/USD, has unveiled plans to introduce a revolutionary way to maintain immutability of digital assets in its platform. After its launch, assets stored on the Solana network will be immune to external trust assumptions and, in turn, any potential alteration by anyone. This announcement is most likely to result in a increase in SOL’s tokenomics, validate its recent +9.1% surge in past seven-day trading, and project its future price trajectory upwards.
The resulting standard is labelled Metaplex Inscriptions and Engravings, which seeks to build on platform’s existing architecture pertaining to the on-chain and immutable assets existing on the SOL’s ecosystem. Prior to this, most Non-fungible tokens (NFTs) within electric Solana stored their data on unrelated services such Arweave (42.8%), IPFS (49.1%) and S3 situated externally. With Inscriptions, the SOL ecosystem can now accommodate asset’s metadata and media-related data within its confines, Engraved inscribed NFTs can benefit from an additional layer of security that prevents any subject alteration eliminating third-party related behavior.
