If you have a fluorometer, then you can measure MMP1 activity with fluorescence resonance energy transfer substrates. These FRET substrates are sold by numerous companies, including Biozyme inc, AnAspec, and Enzo. But if you have a spectrophotometer and not a fluorometer, Anaspec sells Biotin labelled substrates with a a color tag on the end. So if you buy streptavidin beads, you can also use that. For the FRET substrates, you just add them to buffer, put in a well, add enzyme, and measure the increase in fluorescence. AnaSpec sells substrates with excitation/ emission in the 300-400 region. Biozyme inc uses Dabcyl/Fam with excitation and emission of 480 and 530nm respectively.
If you decide on fluorescence, I can give you a small amount to try. Just contact me at [email protected]