Mad Lads Token Airdrop

Mad Lads Token Airdrop

Mad Lads Token Airdrop | Published May 8, 2023

See this research post for the overview on Mad Lads and Backpack.

On May 1, the Backpack team updated the Mad Lads NFTs to take a snapshot of users who opened the xNFTs in backpack.

Taking a snapshot of the blockchain simply means they recorded who was holding a Mad Lad NFT at a specific point in time.

This is a common practice for compiling a list of holders to reward for with an airdrop.

Additional evidence for an airdrop is the Backpack co-founder Mad Armani’s tweet asking about spl token vesting programs.

Spl tokens are the Solana equivalent to ERC-20 tokens. Token vesting programs, like Streamflow, are programs for distributing/vesting tokens based on a desired set of criteria.

This tweet pretty much confirms that the team is working on a Backpack or Mad Lads token of some kind.

If so, logically it would be airdropped to holders of Mad Lads.

While it’s possible that the snapshot for a potential airdrop has already been taken, it’s also possible that there will be more snapshots in the future.

It’s also possible that the team could introduce a staking program that rewards Mad Lads holders with tokens for staking their Mad Lads NFTs.

Note: There is, of course, no guarantee that there will be a Mad Lads or Backpack token airdrop. We can only speculate, however, based on the evidence shared in this post we feel it is quite likely that owning a Mad Lads NFT will be rewarded with some sort of token airdrop. Lastly, Mad Lads are expensive NFTs. There is risk in that the price could fall and no airdrop is executed in which case losses would be incurred.

Mad Lads currently cost 63 SOL (~$1350) and can be purchased on Magic Eden here.

Disclaimer: We at Sistine Research own some Mads Lad NFTs.