MMP1 encodes matrix metalloproteinase 1 which plays a role in the degradation of the extracellular matrix. MMP1 is also known as collagenase. MMP1 breaks down the interstitial collagen types I, II and III. During skin ageing, there is an upregulation of MMP-1 leading to the breakdown of collagen in the skin.
If you carry a medium to high impact genetic variation in this gene, then you may be predisposed to loss of firmness and elasticity resulting in premature ageing.