Metaplex: Thunder in the Silence, the Winner Behind the Launchpad War Still looking for the next $GP or $bonk? $mplx just lie there quietly waiting for your discovery TL; DR 1⃣Launchpad War is highly competitive, and Bonk has surpassed Pump in terms of share in just two months, and it's hard to say who will die in the future, but whoever wins or loses will have to pay Metaplex 2⃣Metaplex's revenue over the past 2 years is about 36M, with 50% of revenue used to buy back tokens $mplx, and 1.6M in June, of which 1.1M was used to buy back tokens $mplx (1% of total circulation) 3⃣ Recently, it has launched its own new platform, which is different from the permissionless Launchpad, and has launched the first batch of 7 DeFi and infrastructure projects in the Solana ecosystem, which is expected to form a price catalyst 😆 Investment Highlights: The price is relatively low, with a PE of only 10, much like the GP before the rise of bonk, and once there is attention, the price feedback will be very fast Launchpad is highly competitive, but all require paying Metaplex, which has no competitors Real income, in line with the current mainstream investment values, 50% of the income is used for buybacks The launch of the new platform function may gain attention in the short term 🥲 Investment Cons: It is difficult to capture attention for infrastructure targets The income chain has a long transmission and is difficult to be understood by retail investors body Metaplex is one of the most important underlying infrastructures of the Solana ecosystem, and every token and NFT creation requires a Metadata fee to Metaplex. Yes, you read that right, for every coin you speculate on Pump, Pump, you pay a fee to Metaplex. More than 1 million tokens have been created in the past month alone, generating 1.6M in revenue for Metaplex Specifically, Metaplex generates revenue by charging a tiny fee for digital asset-related transactions. For example, each time a new token is created through its protocol, the following fees are charged: Token Metadata Minting: A fee of 0.01 SOL per new token. Core Minting: There is a fee of 0.0015 SOL per Core standard NFT minting. Don't underestimate this fee of 0.01SOL per token. Metaplex's total revenue in the past two years is 36m, with 50% of the revenue used to repurchase tokens $mplx, and 1.6m in June, of which 1.1m was used to repurchase tokens $mplx (1% of the total circulation), corresponding to the current market cap of 124m, whose PE is only about 10. Compared to Pump and Bonk competing with each other to eat away at each other's market share and resulting in unstable revenue, Metaplex does not have any competitors on Solana, whether it is Pump or Bonk in the end, or if there is a new third party, as long as there are tokens created, the more Metaplex will earn. Even the more competition there is, the more Metaplex earns, because if there are multiple Launchpads then a meme with the same name can be sent many times, and then counting the capitalization, you know. Recently, Metaplex has also launched its own unique Launchpad, which has attracted the first batch of 7 DeFi and infrastructure projects in the Solana ecosystem. The tweet was officially retweeted by both Toly and Solana, and with the start of the new play, there is a high probability that it will bring a very considerable attention capture to Metaplex. On the whole, the current price of MPLX profit and loss ratio is extremely high, my first reaction after the study is very similar to $gp, when no one cares about the price has been lying on the ground, once everyone finds that the price has feedback, there will be a strong transmission effect.