This NFT Has ZERO Utility: Why MadLads by Backpack is the Next Big Thing
You need MadList. Nao.
This NFT has zero utility.
Yet... it's still the most talked about, upcoming mint on Solana. Practically everyone and their mother is foaming at the mouth for a chance at MadList. This has been going on for months.
It’s not hard to see why, but for those that may not know, allow me to explain.
Backpack & xNFTs.
As stated earlier, the team behind MadLads is Backpack. But what is this ‘Backpack’ exactly? What does it do and what’s the point?
The simple answer? It’s a wallet.
But the truth is that Backpack is not just "another crypto wallet"; It's a home for all of your crypto needs. It's permissionless and allows anyone to build apps, on any chain. These apps are called 'xNFTs'.
Talk about a multi-chain future.
The iPhone of Wallets.
So we’ve pretty much covered that Backpack is less of a “wallet” and more of an "xNFT operating system" empowering a multi-chain ecosystem of apps and builders.
Now imagine all of them in one place.
That's Backpack in a nutshell.
Essentially you have all of the perks of a wallet, but your xNFTs (apps) live inside of the wallet rather than on the exterior.
You can download xNFTs (apps) from the xNFT library (app store) and anyone can publish their code as an xNFT, permissionlessly.
The craziest part about this is that it's all protocol and chain agnostic.
It's the iPhone of crypto wallets.
Now that we know what Backpack is, what's up with MadLads?
What are the perks?
What’s the utility?
What's the point?
I think Armani (@armaniferrante) put it best.
And he's not wrong.
For one, It's the highest quality Solana NFT art I've seen in a long, long time.
Secondly, we see NFT projects create problems out of thin air, and then build "utility" to fix them with NFTs all the time.
It’s pretty dumb.
Backpack has already built something incredible, that solves an actual problem. Mad Lads are just collectibles. That's all.
Considering the fact that DeGods has left Solana and the throne is up for grabs, MadLads has all the momentum and tools to do extremely well.
Personally? I’ll be minting and grabbing a few on secondary.
Mint date and price are TBD.
Join their Discord for more information on how to get MadList.
Remember to DYOR. — Lite.
The LITEPAPER. (by LitecoinYagami) is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.