Metaplex (MPLX): What It Is, Uses and Risks

Metaplex is a tokenization platform built on Solana. Its developer platform is designed to support many kinds of assets, including memecoins, project tokens, tokenized collectibles and real-world assets, and the project also offers first-party applications for launching and trading them. MPLX is the native token of the Metaplex ecosystem and is described publicly as the governance token of the Metaplex DAO. Published summaries say the token launched in September 2022 with a fixed supply of one billion tokens. In our data, the project is grouped under gaming, NFT and launchpad token categories, which reflects how its products are used rather than a single narrow purpose.

According to the project description and search summaries, MPLX gives holders a role in governance through the Metaplex DAO, which is the body that steers the protocol. The project also states that 50% of protocol revenue is allocated to MPLX buybacks for the DAO. One published summary describes a monthly process in which a share of protocol fees feeds these buybacks, but the exact mechanics could not be checked against the project's own documentation for this page. A buyback program can reduce the number of tokens available, but it does not guarantee a price, and the amount of revenue flowing into buybacks depends on how much activity the platform sees.

As of 2026-11-05, the data shows MPLX at about $0.077, a market capitalization of about $36.1 million, a fully diluted valuation of about $76.9 million and 24-hour trading volume of about $5.6 million, with the token ranked 573 by market capitalization. About 470.3 million tokens were circulating against a total and maximum supply of one billion. The gap between market capitalization and fully diluted valuation reflects tokens that exist in the supply but are not yet circulating. The all-time high was about $0.897 on 2022-09-19, and the all-time low was about $0.0177 on 2026-06-25. Over the past seven days the price was up about 25%, while over the past year it was down about 52%. These figures change constantly and should be rechecked on a live data source before you rely on them.

Our data lists MPLX as issued on two chains: Solana and BNB Chain. It does not list a native chain for the token, so the token is best understood as a token issued across these networks rather than the base asset of a blockchain. Solana is where Metaplex's core standards and most of its applications are described as operating, and the project says it has powered the vast majority of asset creation on that network. The site's project summary also mentions token sales and liquidity on Raydium. Because the same token name can exist on more than one network, you should confirm which chain and contract address you are dealing with before you trade or hold it.

MPLX carries the usual risks of a small, volatile token. The price has moved sharply in both directions over the past year, and the market capitalization is modest compared with larger networks, so price swings can be large. A meaningful part of the total supply was not circulating at the time of the data, and future releases of tokens could add selling pressure. The token is issued on two chains, which adds complexity and the risk of sending funds to the wrong network. Impersonator tokens using the Metaplex name are a known problem in crypto, so verify the contract address through the project's official channels. Smart contract bugs and changes to the DAO's rules are also possible. For storage, use a wallet that supports the specific chain you are using, never share your seed phrase, and confirm the network before each transfer. This page is for research only and is not financial advice.