The NFT world has been undergoing many transitions in recent months. The Solana platform, a blockchain system that hosts the NFT ecosystem, has experienced challenges as major y00ts and DeGods collections migrated off the platform. Additionally, Magic Eden had trouble securing clients and collectors on the ledger.
However, new NFT collections can always boost activity on the platform. Mad Lads NFTs are assisting in the revival of the market through a generous shift. After gaining popularity and serving as a new regulatory tool to avoid nefarious players or bad bots, Mad Lads has revived the NFT ecosystem.
Created by the Solana framework development company, Coral, Mad Lads features over 10,000 NFTs, each at the price of 6.9 SOL in April. The artwork depicts human and humanoid PFPs with weapons, accessories, clothing and unique features that showcase robotic, celestial or undead characters. According to DeCrypt, Mad Lads creators developed an in-app story experience featuring “a collective boss battle” against a Mad King, described as similar to a raid in the World of Warcraft. It combined elements of gaming, social quest, and an exciting collaborative experience for NFT users.
Mad Buzz for a New Collection
Mad Lads achieved notoriety during its collection drop. While it is a new trend-worthy NFT collection, its introduction also marked a historic moment for those who created it. It was first offered through Backpack, which Coral created for the collection in an all-in-one wallet app. Using Backpack may have seemed to limit the collection from gaining further popularity initially; however, it proved to be a unique way to positively impact Solana. Backpack is built around “executable NFTs,” or the next generation of NFTs, stylized as xNFTs. These xNFTs are non-fungible tokens with executable coding program scripts, meaning they come with programs for Web3 applications.
The Backpack app can connect to other apps and manage private keys into a central hub. It’s unique because it is asset and protocol-agnostic and everything within the wallet serves the new generation of xNFTs. Most wallets only show tokens, while others don’t even display JPEGs. All this is to say that those with digital wallets don’t need to connect them to a website to validate to use their NFTs. The new generation of xNFT users can see content that is gated in the Backpack wallet without logging in or depending on software. The whole process makes it safer and more efficient to use.
A Unique NFT Experience
Mad Lads is now an iconic NFT collection known for its unique images and accessibility. The collection had already achieved this status during its April 20th drop, when there was a 24-hour delay due to demand. The sale was relaunched after extortion threats and security attacks to avoid any bad actors. During the April 21st relaunch, Backpack created two minting portals so it could differentiate between humans and robots. Rather cleverly, it was designed to send humans to the minting page, while those attempting to reverse-engineer the web code were sent to the “honeypot” which tricked cyberhackers toward spending their mint on a fake mint, but ultimately receiving nothing. This ingenious distraction generated $250,000 in SOL. It generated fanfare for the stunt while it safeguarded the platform. Later, Coral returned the funds to those who lost them.
As word spread, secondary scales skyrocketed along with floor prices. The excitement within the NFT community earned $8 million in one day. A few days later, it was raised to $15 million in trading revenue. In the future, xNFTs may eventually be available for anyone to build on after ongoing security audits are completed.
As the engagement continues to drive toward these new NFTs, the budding project has developed into a rebirth for the Solana platform and the NFT platform in general. While some traders were bored before with other collections, interest in the top-performing The Mad Lads collection has spurred a broader interest than ever before and has created a new organic NFT community.
Photo Credit: Mad Lads NFTs