Performances
RD Popularity Index
RD Growth Index
Comparison
Follow Updates
Follow Lists
People
About Mad Lads
Mad Lads is a collection of 10,000 executable NFTs (xNFTs) on Solana, built by the Backpack team. Each NFT is not a static image but contains executable code that runs inside the Backpack wallet, making it a functional app rather than just a profile picture.
Its core narrative centers on being the cultural flagship of the Backpack ecosystem. Holders are treated as early ecosystem participants, with access to airdrops and platform perks. The value proposition is tied to Backpack's expansion beyond NFTs into exchange services, tokenized securities, and broader financial infrastructure.
The market pain point Mad Lads addresses is the lack of utility in traditional PFP NFTs. By embedding executable scripts, it demonstrates a new direction for NFT functionality. However, this also creates dependency: the collection's value relies heavily on Backpack's continued execution and broader NFT market sentiment.
In the past six months (March to September 2026), several key developments occurred. On March 23, Backpack launched its BP token, with Mad Lads holders receiving 1% of total supply (10 million BP). The airdrop process faced controversy due to strict anti-Sybil filtering, which excluded many users who believed they qualified. Post-TGE data showed the average cost per point was approximately $0.20, but the token price failed to hold that level, leaving most participants at a net loss. By April, the token consolidated in the $0.14-$0.16 range. In April, Mad Coach took over as Community Manager, introduced a cleaner Discord structure and launched the Mad Poker Series events. In June, Backpack announced Backpack Securities and tokenized SpaceX ($SPCX), expanding into traditional finance. Mad Lads floor price traded around 13.66 SOL in late June, showing renewed market interest. A notable negative: in January 2026, official announcements clarified that Mad Lads holders would not receive Backpack airdrops, which dampened earlier market expectations, though the actual distribution later included a 1% allocation.
Mad Lads (Backpack ecosystem) made significant strides in the past six months.
Key developments:
- March 23, 2026: Backpack token (BP) launched on Solana, with 25% of supply airdropped to users (24% to points holders, 1% to Mad Lads holders). No insider allocations.
- June 9, 2026: Backpack Securities launched in the U.S., enabling trading of tokenized real stocks (e.g., SpaceX, Micron) on Solana, bridging traditional finance with DeFi.
- May 2026: Backpack joined DTCC's working group (with BlackRock, Goldman Sachs, etc.) to help build a tokenized securities settlement system.
Future roadmap:
- Expand product suite: prediction markets, card products, and lending upgrades.
- Geographic expansion: target Japan and U.S. markets.
- IPO plan: tokens unlock to active users based on growth milestones; team/VC allocations locked until at least one year post-IPO.
- Growth model: "growth must outweigh dilution" — every new product/region acts as a token unlock lever for users.
Mad Lads was created by the Backpack team, with key co-founders Armani Ferrante and Tristan Yver.
Armani Ferrante: Co-founder & CEO. Previously a software engineer at Alameda Research, and also worked at Oasis Labs, Counterfactual, and Apple. He created Anchor, a widely used Solana development framework. He leads Backpack's vision for wallet and exchange.
Tristan Yver: Co-founder. Former FTX engineer. Together with Armani, he co-founded Coral, helped build the xNFT standard, and contributed to Mad Lads' design and development.