Metaplex Genesis: Fueling Onchain ICOs

Metaplex generated $13.7M in protocol revenue in H1 2025 and is on track to generate $2M in July. This comes in above the monthly average of $1.8M since January 2024. 

Moreover, this has resulted in an average of 0.6% of the supply being repurchased each month since June 2024. This translates to 7.38% of the total supply (73.8M MPLX tokens) being repurchased in total.

The funding for these purchases comes from a mix of product offerings, including Core (NFT creation), Bubblegum (compressed NFTs), and Token Metadata (fungible tokens and NFTs). Genesis extends this flywheel further into fungible tokens, entering a market currently dominated by retail-focused platforms like Pump.fun and Letsbonk.fun. However, unlike memecoin‑centric venues, Genesis is designed for teams launching assets meant to power long‑term network utility rather than short‑lived speculation. This service also allows Metaplex to strengthen its advisory capabilities, partnerships in the Solana ecosystem, and play a larger role in the formation of “Internet Capital Markets”.

The inaugural Genesis launch, DeFiTuna’s two‑phase presale on July 22nd, 2025, sold out in just four minutes, raising 12.37K SOL while moving 5% of $TUNA’s supply through Genesis contracts and validating the framework’s end‑to‑end flows for allowlist gating, public distribution, and automatic staking. This launch validated Genesis’s ability to successfully execute an end-to-end token launch.