Is Solana NFT summer here?

Today we cover:

• ☀️ Tensor vs Magic Eden are head-to-head

• 😡 Mad Lads — Don’t sleep on this

• 💰 What’s going on with NFT Finance

• 👻 Upcoming mint: Azuki’s Spirit DAO

Market Update: Tensor vs Magic Eden

After a period of price collapse, Solana NFTs are back on a roll. Leading the pack is Mad Lads, which saw a 20% increase in the past 24 hours, almost doubling its value over the week.

This bullish trend isn't exclusive to Mad Lads. Many other Solana NFTs have also seen their prices rise by 20 - 30% this week. This sudden uptick feels like a reflexive move following the recent downtrend. The burning question now is whether this momentum will be sustained in the coming days.

On the marketplace side, Tensor and Magic Eden are locked in a head-to-head battle for daily trading volume. Magic Eden still has the edge on most days, but it appears that its position as king of Solana NFTs is very tenuous

Is the mythical Solana NFT summer finally here?

Mad Labs: Revolutionizing NFTs with Backpack

💲 What to know: Have you heard of the Mad Lads NFT collection? Here’s why you shouldn't sleep on it.

This 10,000 PFP is breathing new life into Solana's NFT world after DeGods and y00ts left, leaving a huge void.

☘️ In the weeds: Ever tried to buy an NFT, verify it, and then join the community? If you have, you know it's like trying to solve a Rubik's cube blindfolded. But guess what? Mad Lads has taken up the challenge to simplify this process.

Mad Lads has rolled out a one-stop platform - Backpack. With Backpack, you can buy NFTs, verify them, and join the community chat with just a few clicks. It's like having a personal assistant for your NFT journey!

But that's not all. Mad Lads NFTs are more than just digital collectibles. They're a showcase of the cutting-edge technology built by the team. They're hoping to inspire other NFT creators to adopt similar protocols and make the NFT space as smooth as butter.

The Mad Lads community is a buzzing hive of individuals who are passionate about the project. They've self-organized into various sub-groups based on the traits of their NFTs. It's like a big, happy family.

And let's not forget about the memes. Mad Lads are meme maestros. Their new meme page just dropped and it's hotter than a jalapeno!

Backpack offers features like usernames (instead of public keys), push notifications, and integrated messaging. Plus, it provides open APIs for developers to build custom experiences for their users.

🤑 Why it matters: The Mad Lads team isn't resting on their laurels. They plan to continue improving the Backpack platform and expanding the Mad Lads community.

They're also exploring the possibility of launching another collection in the future, but that's dependent on the continued success of MadLads.

And here's the cherry on top: both Backpack and the XNFT protocol are open source. This allows other developers to integrate these technologies into their own projects. The team hopes that this will lead to wider adoption of the XNFT standard.

Today's News & Coolest Tweets

News

• Kanpai Pandas launches its media unit

• Nike’s .SWOOSH sells 55,000 OF1 NFT boxes on Day 1 (Mint is still open)

• Magic Eden makes major updates, now has a negative maker fee (earn SOL by being a maker)

• Binance announces NFT loans will begin today

NFT Finance

🐥 NFT Lending on Solana

🐥 Hot Takes on NFT Fi

🐥 Upshot collabs with new NFT lending protocol Astaria

🐥 Version 3 of X2Y2 Fi launches

PFPs

🐥 Why Milady floor price crashed. Hint: Whale games

🐥 Azurbala makes a comeback

Gaming

🐥 Bullish on Web 3 gaming

🐥 Do web3 games need tokens?

🐥 Building a community before you launch

New Projects Corner

🍿 Azuki’s Spirit DAO is launching their mint on 31 May

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). If you found this newsletter helpful, imagine how much your friends will love you if you forwarded it to them. 🥹 

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Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.