From: thepipeline_xyz
Tristan, co-founder at Backpack, highlighted the journey of building a global community around Backpack and Mad Lads, emphasizing the intersection of product, culture, and strategic growth [09:31:00].
The Genesis of Mad Lads and Backpack Community
The initial inspiration for Mad Lads and the Backpack community stemmed from a desire to build a strong community and create a cohesive group of people [03:26:00]. This began with a unique, unannounced market entry for X NFTs (decentralized applications runnable in the wallet) [03:48:00].
Many individuals in the Solana ecosystem, including figures like Anatoly, Raj, and Armani, changed their Twitter usernames to include “xnf” [04:18:00]. This created an air of mystery, leading to rapid organic growth on Twitter, with 10,000 followers gained in the first month without paid engagement [04:52:00].
To channel this energy, a private Discord was created [05:24:00]. People were invited based on engaging content, such as good memes or well-written pieces, identifying them as potential contributors [05:31:00]. A specific GIF of an anime girl throwing a blue dodgeball became a public signal for those selected to join the Discord, leading to a “Cambrian explosion of memes” as others tried to emulate the behavior to gain access [06:14:00].
The resulting community comprised “hardcore, chronically online crypto addicts and meme masters” [07:23:00]. Building personal connections through extensive hours in the Discord and maintaining dialogue fostered a loyal base [07:29:00]. This engagement also led to the “blue ball meme,” symbolizing the mystery around X NFTs [07:46:00].
Integrating Product and Community: The Mad Lads NFT Collection
A key realization was that focusing solely on product and technology would not be sufficient [08:44:00]. Drawing an analogy to Bitcoin’s success, which wasn’t just Satoshi’s technological advancement but also the evangelism of early cyberpunks [09:00:00], it became clear that the intersection of product and culture was vital [09:31:00].
To sustain this energy, an NFT collection was launched as the best community building exercise [09:55:00]. The initial core group from the Discord became the cultural backbone, aligned with the team’s vision and ethos [10:05:00]. This strategy allowed the core members to maintain the community’s culture as it grew from 500-600 to over 30,000 members [10:29:00].
The Mad Lads collection also served to showcase the X NFT technology, making it possible for an NFT to also function as an application, providing a depth of experience previously uncommon in the NFT space [11:03:00].
During the Solana bear market, the Backpack wallet was used as a community engagement tool [12:10:00]. Games were integrated into the wallet interface to allow users to win invite codes for beta testing and whitelist spots [12:41:00]. Examples included guessing AI-generated image prompts, identifying animal sounds, and navigating a Minecraft map to find hidden codes [12:54:00]. This focus on creating shared experiences was crucial for community building, fostering genuine care for the project beyond financial incentives [14:19:00].
The Backpack Exchange and Global Expansion
The Mad Lads mint was also unique in that all interactions, including whitelist claims and the public mint, were conducted within the Backpack wallet [21:30:00]. A game to “defeat the Mad King” to unrug the NFTs further engaged users [21:44:00]. This generated significant hype, attracting participants from across the crypto ecosystem, including Ethereum, Bitcoin, and Cosmos communities, which helped re-blossom the Solana ecosystem during a dire period [22:46:00].
The decision to launch the Backpack Exchange came serendipitously when a leading crypto regulatory and licensing expert, met with Armani [23:21:00]. Recognizing the strong engineering, marketing, and community of Backpack, and the expert’s regulatory knowledge, they merged efforts to fill the gap left by FTX [24:16:00].
The exchange launched in November [24:46:00], distinguishing itself as an internationally focused exchange built with full regulatory compliance from day zero [24:54:00]. It was the first to receive a Vara full retail cryptocurrency exchange license in Dubai [25:13:00].
The Backpack Exchange was built on first principles, acting as a permissioned blockchain with validators running different instances of the exchange for replayability and potential future regulatory oversight [26:04:00]. It also incorporates a ZK proof of reserves system, allowing users to verify their funds [27:04:00]. The approach combines Coinbase’s compliance with Binance’s crypto-native agility [27:36:00].
There is a clear synergy between the non-custodial Backpack wallet (for on-chain activity) and the Backpack Exchange (for off-chain activity), creating a seamless user experience [29:38:00]. Mad Lads NFT holders serve as “super fans” and “super users,” driving attention and providing valuable feedback [30:07:00].
The team decided to move operations out of the US due to the unfavorable regulatory environment and to align with Asia, seen as the center of crypto activity [32:10:00]. Japan was chosen for its consistent and thoughtful approach to web3-friendly regulation, despite a slow pace [33:08:00].
Growth and Future Vision
The Backpack Exchange launched with a large distribution event, partnering with Pyth Network to give out 10 million PYTH tokens [34:57:00]. This event led to 140,000 KYC users in the first week and 74,000 participants in the Pyth drop [35:29:00], despite breaking systems and requiring intense work for the team [35:38:00]. This intense period hardened the team and improved their systems [36:01:00].
The exchange has seen significant growth, with over 350,000 active traders [36:37:00]. A point system launched in February generated absurd spot volume, reaching 8.6 billion in spot volume [38:30:00]. This stress-tested infrastructure and consistently increased organic trading volume between events [39:08:00].
The exchange actively drives users to the on-chain world; for example, requiring users to connect their wallet and make a trade on Tensor for the Tensor token drop, which onboarded approximately 100,000 new users to an on-chain protocol [40:31:00].
The team aims to become a Mainstay International cryptocurrency exchange and one of the largest exchanges in the world [48:07:00].
Key Principles of Community Building
Tristan emphasizes that successful projects in crypto must understand that the space is “ran by crypto Twitter” and storytelling happens through this medium [44:58:00]. Therefore, having an entertainment side and not taking oneself too seriously is crucial [45:07:00]. This involves making content that appeals to both “mid-curvers” (who might criticize) and “left/right-curvers” (who appreciate the humor and genuine engagement) [43:40:00].
A core message to the Mad Lads community from the beginning was “no utility, this is a rug, send it to zero” [46:45:00]. This approach fostered a community with “no expectations, just vibe, just enjoy the journey” [47:04:00].
The ultimate advice offered is to “live from a place of gratitude,” being grateful for every moment, breath, and connection, as life is transient [50:02:00]. This perspective makes it easier to be happy and appreciative of all experiences, both terrible and joyful [50:35:00].