Fifty-four thousand SOL. That’s about $7.3 million dollars in royalties sitting there waiting to be claimed, and Metaplex wants to clean it up. They describe it as for the DAO, for development, for the community. Let's cut the corporate speak: what about the little guy? The user who might not...
Picture this world, one where Solana NFTs are more than JPEGs, but living, breathing, engaging experiences. Think in-game assets that evolve with gameplay, concert tickets that unlock exclusive content, or digital art that reacts to real-world events. That future hinges on innovation, and Metaplex, the platform powering much of the...
Yet today, the Solana NFT space is simultaneously alive with anticipation and overrun with controversy. Metaplex’s recent proposal to sweep more than 54,000 unclaimed SOL tokens—worth nearly $7.3 million—into its DAO treasury. This decision has sparked fury from existing NFT holders. It presents troubling issues regarding transparency, user trust, and...
The legal battle includes metaplex, a Solana NFT platform. This announcement follows the company’s recent announcement regarding its plans to transfer approximately 54,000 SOL from these user-funded wallets into its DAO treasury. The move, meant to take place on April 25 2025, will include, as Metaplex has called it, unclaimed...
Now the dust is settling around NFTs. Now that the early crypto-adopter-aesthetic has worn off, we are left grappling with the Wild West’s brutal realities. Metaplex, a Solana-based NFT platform, is about to be the beneficiary of more than $6.5 million in unclaimed SOL tokens. This luck stems from the...
Additionally, Metaplex just completed a sweep totaling around $6.5 million in SOL, Solana’s native currency. This enforcement action against stagnant candy machines emphasizes the protocol’s use in NFT creation on the Solana blockchain. This move, intended to bolster the Metaplex DAO treasury, has sparked considerable debate and raised serious legal...
Metaplex is now being sued by Burwick Law. The umbrella Solana-based NFT platform announced plans to sweep more than $6.5 million worth of unclaimed Solana (SOL) tokens into its treasury. As a possible remedy, the law firm warns that if Metaplex proceeds with the plan, it may be subject to...
Is this sweep innovation or a heist? Even in crypto, $6.5 million is a staggering sum. Another major player in the Solana NFT ecosystem, Metaplex, is moving quickly and aggressively. As a governance mechanism, they intend to sweep unclaimed SOL tokens from resized NFTs into their DAO treasury. Here's the...