- Mad Lads xNFT series fuels the Solana NFT market.
- The market turnover reached 489,201 SOL, or about $10.124 million.
- Mad Lads pioneers Solana’s new xNFT token standard.
As interest in NFTs has been decreasing for months, traders have been looking for a reversal signal. The moment might have come with a new type of NFT.
The surge is primarily due to the launch of Mad Lads xNFTs, a first-of-its-kind collection on the chain.
The collection, created by Solana developers Armani Ferrante and Tristan Yver, aims to pioneer Solana’s xNFT technology.
What Are Solana’s xNFTs?
Pioneered on Solana, executable NFTs (xNFTs) combine the features of traditional NFTs with executable code.
Traditionally, NFTs represent a digital art piece, collectible, or digital asset. On the other hand, xNFTx can provide access to the execution of code, such as a decentralized application, interactive experience, or game.
According to the Solana Foundation, xNFTs represent an “entirely new way to build applications” in line with “decentralized values.”
On the Flipside
- Solana’s NFT sales are still far below their 2022 levels. In June 2022, Solana registered more than $1 billion in NFT volume.
- Solana recently partnered with the decentralized network Helium, which migrated its protocol to the Solana blockchain.
Why You Should Care
Interest in Solana’s xNFT standard indicates that traders are still optimistic about the potential for the utility of NFT tech.
Read more about Helium’s migration to Solana:
Read more about Solana’s efforts to curb carbon emissions: