Here is the rewritten content in HTML format, organized with proper headings and subheadings:
Mad Lads NFT Collection Sees 19% Price Jump Following Backpack’s Acquisition of FTX Europe
Market Analysis
The starting price of NFTs in the prominent Solana collection Mad Lads jumped 19% earlier Tuesday, with the spike coming following news that parent company Backpack acquired the remains of FTX Europe and the collapsed firm’s MiFID II exchange license. The price increase may come from speculators hoping for benefits tied to Backpack’s acquisition, which will allow the Backpack exchange to offer perpetuals trading to European users after prioritizing the return of funds to FTX Europe users.
Market Impact
Mad Lads briefly held a floor price—aka the cheapest asset listing on the marketplace—of almost $18,300 worth of SOL early Tuesday, though the price has fallen to $16,240 as of this writing following a sharp correction across the entire market.
Backpack’s Acquisition of FTX Europe
On January 7, 2025, Backpack announced that it had acquired FTX Europe and its MiFID II exchange license. The company’s first priority is to return all customer EURO funds on behalf of the FTX estate, followed by rolling out a full suite of spot, margin, and futures trading products. Crypto perps trading is coming back to Europe.
Benefits for Mad Lads Holders
While no direct benefits for Mad Lads holders have been announced, project CEO Armani Ferrante shared a timely reminder late last night, only hours before the acquisition announcement. "Reminder that if you hold a Mad Lad, you automatically get VIP 1 on Backpack Exchange," he posted on X (formerly known as Twitter).
Trading and Airdrops
The reminder came as a response to the company’s teaser about an upcoming season of trading, a period of time in which trading volumes on its existing exchange products may lead to additional benefits. Previous seasons have rewarded users of Backpack’s exchange with access to airdrops, a benefit known well to Mad Lads NFT holders, which received airdrops from Wormhole and Dymension among others.
Market Performance
Mad Lads has garnered more than $1.8 million in secondary trading in the last 24 hours, making it the second-most-traded NFT collection across blockchains according to CryptoSlam, only trailing Ethereum’s Pudgy Penguins. Its price jump extends gains from the last month, in which it has increased in value by nearly 73%, charging back to levels not held since April 2024.
Background and History
Launched in April 2023, Mad Lads earned acclaim for its clever scheming that resulted in bots spending more than $250,000 on a fake mint, protecting real consumers trying to get the NFTs. Consisting of nearly 10,000 profile picture NFTs, Mad Lads is the second-most-traded Solana NFT collection of all-time according to CryptoSlam.
Conclusion
In conclusion, the acquisition of FTX Europe by Backpack has led to a significant increase in the price of Mad Lads NFTs, with the collection seeing a 19% price jump. This surge is likely due to speculators hoping for benefits tied to Backpack’s acquisition, which will allow the exchange to offer perpetuals trading to European users. As the market continues to evolve, it will be interesting to see how this development impacts the NFT market and the collection’s price in the long term.
FAQs
Q: What is the current price of Mad Lads NFTs?
A: As of this writing, the price of Mad Lads NFTs is $16,240 worth of SOL.
Q: What is the purpose of Backpack’s acquisition of FTX Europe?
A: The purpose is to return all customer EURO funds on behalf of the FTX estate, followed by rolling out a full suite of spot, margin, and futures trading products.
Q: Will Mad Lads holders receive any direct benefits from Backpack’s acquisition?
A: While no direct benefits have been announced, project CEO Armani Ferrante has reminded holders that they will automatically get VIP 1 on Backpack Exchange.
Q: What is the current trading volume of Mad Lads NFTs?
A: Mad Lads has garnered more than $1.8 million in secondary trading in the last 24 hours, making it the second-most-traded NFT collection across blockchains according to CryptoSlam.
