Mad Lads NFT Floor Price Reaches $1,538 With Strong Solana Volume

Mad Lads (MLADS) trades at a price floor of $1,538.29 with a 24-hour sales volume of 970.65 SOL. Created by Coral and featuring 9,968 minted profile picture xNFTs held by 6,187 unique owners, the collection launched on April 20, 2023, and has been credited with revitalizing Solana NFTs.

Intense demand caused significant traffic congestion, forcing the project team to delay the initial minting date. Less than a week after launch, an individual NFT from the collection traded for 3,625 SOL, equating to $74,742.08 USD.

Coral and the Development Team Behind Backpack

The Mad Lads project was created by Coral, a framework development company operating on the Solana blockchain. At launch, the exclusive supported wallet for the project’s executable tokens was Backpack, a platform also owned by Coral. Armani Ferrante co-founded Coral alongside Tristan Yver and currently serves as the company’s chief executive officer, bringing an extensive background in software engineering to the firm. Yver holds the position of chief technology officer at Coral and acted as the lead developer for the Mad Lads collection.

Executable NFT Technology and Web3 Utility

Distinguishing itself from conventional digital assets, Mad Lads consists of profile picture xNFTs, representing the first execution-focused tokens of their kind in the space. These assets contain embedded executable code that grants holders ownership rights over the execution of the scripts. This unique architectural design enables holders to interact directly with other Web3 applications, opening up utility channels such as integration into Web3 games and decentralized applications.

Market Capitalization and Trading Platforms

Trading activity for the collection spans multiple decentralized marketplaces. Collectors and traders can buy and sell MLADS assets on Magic Eden, Tensor, and Solanart.