Metaplex x Strata Protocol Partnership
Metaplex is proud to announce its partnership with Strata Protocol. By integrating Strata Protocol’s Dynamic Pricing Mint tool into the Metaplex Program Library, they take one significant step toward fairness for collectors, creators, and the community.
Metaplex knows about the bots swarm a drop, selling out an entire collection in seconds. Strata Protocol’s Dynamic Pricing Mint prevents bots from doing this. Effectively, the Metaplex and Strata partnership means the community determines the price of an NFT. With Strata Dynamic Pricing Mint, the mint functions like a real-time dutch auction. The price starts high and lowers with time, rising again with demand. Using this method of establishing equilibrium, the pricing will settle around a fair price for the NFT.
Additionally, the community-driven pricing dynamics create an unpredictable environment which is difficult for bots to exploit. The Dynamic Pricing Mint will also help prevent degraded network performance on the Solana Blockchain. Because it will no longer be advantageous for bots to spam transactions on the launch of a highly anticipated mint.
Fairness for Collectors
During a typical fixed-price public mint, everyday minters have an extremely low chance of acquiring an NFT, competing against bots and click-farms. A lucky few gain access to a white list, an inherently exclusionary practice inconsistent with the inclusive ethos of web3. This new dynamic pricing mechanism means that minters have the chance to purchase the NFT at a fair price.
Fairness for Creators
Dynamic pricing means that creators are compensated equitably for their work. In a public fixed-price minting process, the majority of the value is extracted by those looking to flip on secondary markets. If we want creators to choose Solana we have to capture value for them.
Fairness for the Community
NFT communities are built to last when they incentivize long-term holders and protect collectors who are truly passionate about the art. Beyond a better minting experience for all, a dynamic pricing mechanism is especially great for long-term holders as it can result in the project creators having more funding. To implement their roadmap and future projects within their vision.
About Metaplex Foundation
Metalex is the fastest & most affordable NFT ecosystem for marketplaces, games, arts & collectibles.
About Strata
Strata is a social token protocol that makes it possible to build and monetize tokenized economies around a person, idea, or collective. Powered by Solana, it is the fastest and least expensive way to launch a token.
Strata Social Tokens unlock local economies around individuals while Strata Collectives make it possible to pool resources and structure incentive models around networks of social tokens. The combination of these composable token mechanisms will fuel not only the Creator Economy, but will unlock a new Cooperation Economy that compounds the value of social token networks. Strata has the potential to upend entrenched, royalty-seeking business models which have taxed creators for decades and unlock a wider design space for social tokens.
SOURCE:
