Coral CEO Credits Mad Lads for Resuscitating Solana NFTs
It is the season of NFTs and Mad Lads has become the hottest topic in the world of NFTs, generating over $15 million worth of trading volume since it launched last week. The Solana profile picture (PFP) project has risen to the top, becoming the most buzzworthy mint for any PFP project in months.
Armani Ferrante, the co-founder and CEO of Coral, the creator of Mad Lads, believes that the Solana community has had a rough time recently since the FTX collapse. Still, he also thinks this was a “soul-forging moment” for the community.
Ferrante believes that NFTs are crucial for the network, and the departure of DeLabs’ DeGods to Ethereum and y00ts to Polygon has created a chasm in the community, leaving a void that needed to be filled.
Ferrante partly attributed the success of Mad Lads’ to fortunate timing – their project was ready to launch just weeks after similar ones had left Solana. Additionally, he believes that his and co-founder Tristan Yver’s positive reputation and strong ties to the community played a role in the project’s popularity.
“I think a lot of folks looked at us—and I’m just speculating here—as a credible team that can execute and that are good people, fundamentally, that care a lot about the ecosystem,” he said.
The recent surge in popularity of Mad Lads convinced Ferrante that the project has not only dominated the Solana NFT space but also topped the sales charts across the broader market recently, signaling a revival of the Solana community.
“I think that DeGods and y00ts kind of sucked the life out of the NFT space, but I think it’s totally back now,” Ferrante said. “And it’s not going anywhere. It’s honestly more exciting than ever.”