In the guide, we uncover the captivating world of Mad Lads, a non-fungible token (NFT) collection making waves on the Solana platform. This guide delves into the project’s background, its connection to the groundbreaking platform Backpack, and the potential within the Backpack ecosystem. As we explore the Mad Lads phenomenon, we’ll also discover the innovation that distinguishes Backpack and how it’s set to transform the Web3 space. Join us on this journey to comprehend the driving forces behind Mad Lads and the future of NFTs and decentralized applications.
The NFT world has been buzzing with excitement surrounding the Mad Lads project, which has taken the Solana platform by storm. Despite facing alleged extortion threats and DDOS attacks, the project successfully minted last week, generating over $15 million in trading volume.
Solana’s recent history has been turbulent, with the collapse of the FTX exchange and the downfall of its close ally, Sam Bankman-Fried. Additionally, the departure of prominent NFT projects DeGods and y00ts to other chains left a void in the Solana community. This series of events led to a challenging period for the Solana network.
Armani Ferrante, a veteran Solana developer and CEO of Coral, the company behind Mad Lads, shared that the Solana community had been in a dark place since the FTX collapse. He emphasized the importance of NFTs for the network, mentioning that the exit of DeGods to Ethereum and y00ts to Polygon created a significant gap in the community.
Ferrante believes that the Mad Lads project emerged at the right time, providing a much-needed boost to the Solana NFT space. He also attributes the project’s success to the strong reputation and community goodwill that he and Coral co-founder Tristan Yver have cultivated over the years.
What is Backpack?
To fully appreciate the Mad Lads NFT collection, it’s crucial to understand the role of Backpack and its objectives. Current wallets in the industry, such as Metamask, are somewhat outdated and haven’t evolved much over time. These wallets are closed-source, meaning users must wait for the developers to add new features. It’s also worth noting that the future may see crypto keys stored in secure hardware enclaves on smartphones rather than in wallets like Phantom or MetaMask.
Backpack, developed by Coral, is a cutting-edge platform focused on creating products, protocols, and primitives for the Web3 space. Coral is the same team behind the Anchor Framework and xNFTs. Armani Ferrante, the founder of Backpack, has extensive experience in building products on the Solana (SOL) network and is a highly skilled engineer. He developed Anchor, a developer framework that has significantly increased productivity on SOL.
Backpack’s innovative technology seeks to address the limitations of existing wallets. Adopting the super app approach used in projects like WeChat and Kakao, Backpack allows everyone to submit a PR or build an xNFT. The platform functions as a cross-chain Web3 operating system, and its mobile-friendly interface enables rapid improvement – at a rate 100 times faster than other platforms.
What is Mad Lads?
Mad Lads can be thought of as the earliest pioneers and original villagers of the Backpack platform. The creators of Mad Lads are super fans of Backpack who took a chance on the platform, recognizing its potential.
For those who believe in the Backpack ecosystem and its vision, purchasing and holding a Mad Lads NFT might be a wise choice. Ownership of a Mad Lads NFT grants early and exclusive access to the platform, allowing you to become part of its exciting, fun, and vibrant community, as well as benefit from its growth. With the Mad Lads community being both organic and robust, your investment is likely to yield returns.
The Mad Lads NFT collection serves as a driving force for the Backpack ideology, and owning a Mad Lads NFT can grant you a pivotal role in shaping the features, experiences, and magic of the main Backpack platform.
Mad Lads mint, the first major launch for Backpack, was announced in June, and it featured an in-app story experience resembling a collective boss battle against the Mad King, similar to a raid in the popular online game World of Warcraft. This innovative approach combined gaming, social questing, and a shared experience for NFT holders.
Ferrante highlighted that xNFTs eliminate the need for creating new websites for user experiences. Instead, creators can build new stories and establish a new meta where artwork transcends its traditional form.
The Mad Lads collection coincides with the launch of Solana Mobile. The Solana Mobile Saga, also known as the SAGA phone, debuted on April 13, 2023, and is the first crypto-native mobile stack designed to work seamlessly with Backpack.
What Makes Backpack Innovative?
Backpack is generating considerable excitement, with some comparing its introduction to the iPhone moment in the crypto world. Just as the iPhone revolutionized the mobile phone industry by providing a multi-sided platform for developers to create exclusive apps, Backpack aims to be much more than a wallet, opening up new possibilities in the crypto space.
Most Web 1.0 companies have been limited to websites, and the current state of crypto resembles this early phase. Backpack, however, is poised to change the landscape by absorbing websites and browser extensions as the industry transitions to mobile. This will facilitate the creation of native iOS apps, making things easier for users and developers alike.
Backpack offers a wide range of functionalities, including:
- Secure, private transactions
- Messaging and communication with other users
- Trading assets across chains
- Establishing a username and friend system
- Accessing lucrative airdrops
- Sharing content on the platform
- Utilizing xNFTs
Focusing on the last point, Backpack’s apps are essentially NFTs, with the “x” in xNFTs representing eXecutable, tokenized code. It’s akin to having every app on your device as an NFT, allowing for unique use cases such as airdropping an app to over 100 million people or transferring a coupon to select users. Backpack’s goal is to incorporate the magic of smart contracts and tokenization into these apps.
The early days of smartphones saw technology integration leading to advanced innovations, like incorporating GPS and high-quality cameras, which paved the way for apps like Uber and Instagram. Similarly, as Backpack gains adoption, we can expect new and exciting developments in the industry. Backpack is set to introduce a new frontier of distribution, allowing developers to build xNFTs and add them to the xNFT library without waiting for approval from Apple or the Play Store. These NFTs can then be easily distributed to over 1 million user addresses in closed beta.
Throughout this Ultimate Guide to Mad Lads NFT, we have explored the dynamic world of Mad Lads and its significant impact on the Solana platform. We’ve delved into the project’s background, examined its association with the innovative Backpack platform, and analyzed the potential of the Backpack ecosystem. Furthermore, we’ve uncovered the unique aspects that set Backpack apart as it reshapes the Web3 space.
As the popularity of NFTs and decentralized applications continues to grow, Mad Lads and Backpack serve as prime examples of the exciting future that lies ahead. By fostering a vibrant community, enabling innovative functionalities, and opening new frontiers of distribution, both Mad Lads and Backpack are poised to revolutionize the way we interact with digital assets and applications. As we witness the unfolding of this new era, we can look forward to further advancements and opportunities that redefine our understanding of the digital landscape.