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Drama has gripped the Solana ecosystem as tensions rise between NFT marketplace Magic Eden and Solana standard creator Metaplex. Resulting in allegations spewing forth as the two Solana heavyweights clash heads.
What Caused the Tension?
It all started on December 8, 2022, when Metaplex took to Twitter to allege that Magic Eden was trying to take control of the blockchain’s NFT token standard.
1/ gm Metaplex community. Over the past 24 hours, there has been a coordinated pressure campaign led by @MagicEden and @redacted_j to take control over the multi-sig for token metadata and give it to themselves and a small group of their close allies for personal gain.
— Metaplex (@metaplex) December 8, 2022
Taking aim not only at Magic Eden, but also Jordan Prince, who had worked on the original Metaplex protocol.
Metaplex also alleged that while the ethos of the blockchain was that it should not be beholden to gatekeepers, Magic Eden was trying to take control for itself. Furthermore, Metaplex has said that it is putting plans in place to decentralize token metadata and would not bend to Magic Eden’s plans.
After this, Magic Eden responded to the insinuations with a Twitter thread of its own. The marketplace claimed that the allegations were false and called on Metaplex to decentralize the token metadata:
2/ Currently, @metaplex owns the NFT standard the whole ecosystem is built on.
Their plan is to commercially govern the standard for their token holders. They have a god mode key that allows them to change how it works & plan to govern it for the benefit of their token holders.
— Magic Eden 🪄 (@MagicEden) December 8, 2022
Further noting that it looks forward to hearing Metaplex’ decentralization plans.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
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