Metaplex ($MPLX) isn’t just another NFT project; it’s the foundational infrastructure for over 881M assets on Solana

Was just looking at the new $MPLX listing on BingX and the price action was wild, which made me dig deeper. It’s easy to dismiss it as just “another NFT token,” but its role is far more critical.

The protocol provides the open-source tools and smart contracts that have powered over $9.7B in transaction volume across the Solana ecosystem. It’s not just for JPEGs; it’s being used for RWAs, gaming assets, and other digital tokens. Essentially, it’s becoming a core developer platform on SOL, which is a much bigger deal than any single NFT collection.

I think this infrastructural role is what’s being overlooked and might be behind the recent interest. It’s less about a single application and more about enabling the entire ecosystem