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Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

author:MarsBit

原文作者:Alex Liu

原文来源:Foresight News

Can you airdrop in your NFT?

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

Mad Lads W 空投领取页面

Holders of the Mad Lads NFTs have just claimed the W tokens airdropped by Wormhole in their own NFTs. That's right, not on the official airdrop collection site, but in the "NFT". The relatively novel experience has aroused the curiosity of many people, and it turns out that the xNFT protocol launched by Backpack can tokenize the code, so that NFT is also an executable program, and then realize advanced and customized functions.

An NFT in a wallet is an executable program, and if you hold it, you have the right to use it. Using the combination of NFTs and apps, Mad Lads has previously built a staking points system and badge achievement system in NFTs, but only holders know about it. The arrival of Wormhole's airdrop, and the overwhelming discussion on the Internet "Do you have a W badge on your Mad Lads?", made this kind of gameplay out of the circle.

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

Mad Lads xNFT program entrance (left), staking points system and badge system (right)

One may be underestimating the xNFT protocol.

"Can you airdrop in your NFT?" is a simple question. At the moment, with the exception of Mad Lads holders, the answer is "NO" for all of them. In the past, top NFT projects that have received airdrops from various project parties also need to go to the official website to collect them themselves, and cannot interact with the NFT itself, and more generally, for a long time, avatar NFTs (PFPs) have no value outside of art - even if they can receive airdrops. Because such an airdrop is separated from NFT, the value is in the airdrop and not in the NFT itself, and it is completely possible to sell the NFT after the airdrop, which is equivalent to a de-voting to reduce the value of the NFT. The movement of the floor price after the Tensorians received the TNSR airdrop can verify this view to a certain extent.

Paragraph 1 mentions that xNFTs are capable of advanced, customized functionality. Behind the mod for Mad Lads to claim the airdrop is a complex unlocking contract. In addition to the initial unlock of 3,200 W, the remaining 12,800 Ws are unlocked linearly daily throughout the year. Airdrops follow NFTs, "NFTs are airdrops. "Sell it, the unclaimed W is gone. After the Wormhole airdrop, the price of Mad Lads stabilized, and the number of pending orders in the market continued to decline.

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

Mad Lads' W airdrop share is linearly unlocked by the locked contract

This is a simple use case for xNFTs to send airdrops. It is not difficult to reflect that the concept behind it "application and NFT are one, NFT ownership is application ownership" may give birth to more possibilities. Mad Lads was the first to show the outside world such a possibility, acting as a "promotional video". That's why Backpack, which is a wallet-based product, focuses on building the Mad Lads NFT community in the first place - active and influential community members let more people see what Backpack's products can do.

There's so much more that can be done.

The Web2 dilemma in the Web3 world

Let's throw out the problem first, and then talk about the solution. The current Web3 world is actually "very Web2".

A browser that is "stuffed into your wallet".

Why do startup teams want to make wallets, why do crypto wallets that don't usually issue tokens get hundreds of millions of dollars in financing? I think everyone is betting that wallets can become the "traffic entrance" of the Web3 world, just like the browser of the Web2 world. But the problem is that most of the current crypto wallets are essentially browsers and wallet modules, which are shells. If this consideration is to use the experience close to Web2 to Onboard traditional users, then how to compete with browser giants like Brave, which have built-in wallet modules in the browser and already have tens of millions of users?

Such wallets are too fungible, and they are only Web2-like experiences, which fail to give full play to the advantages of blockchain as a public ledger and solve ownership problems, and do not create a "Web3-native" experience.

Joining the community of holders is difficult

Quite a few people buy NFTs to join the Token Gated Community behind them. Being in the same chat group with celebrities like Stephen Curry and Justin Bieber, top traders and project owners used to be the biggest selling point of NFTs like BAYC.

But if you want to join the holder community, it is actually difficult. First of all, in the process of buying NFTs, transferring tokens from the exchange to crypto wallets can stump a large number of users who have never interacted on-chain. Then go to the NFT marketplace, authorize, buy. After buying, you need to go to the tool designated by the corresponding project to link Discord and wallet to verify the ownership of the NFT.

If all goes well, you'll end up in a Discord holder channel. It's not Web3. And any step in the process that goes wrong: transferring the wrong address, being phished during authorization and verification, will cause property damage. As Web3 players, even if we give a Web2 friend a favorite NFT, I am afraid that he will not be able to complete the above steps smoothly without a thousand instructions. Can such a user experience support mass adoption?

Web3 WeChat

How does xNFT solve these problems, and how is it inspired?

The answer is in the East

In China, is the browser still the traffic entrance of Web2? Only a domain name at a fraction of the price at its peak may tell us the answer - few Chinese enter the URL in the browser to access the service, and everyone directly uses different apps. A further trend is that everyone uses "super apps" like WeChat, and different services run on the WeChat platform as "mini programs", and WeChat has become a new form of traffic entrance.

Executable NFTs to make the experience natal

Backpack co-founder Armani Ferrante, whose wife is Chinese, has bluntly said that Backpack was inspired by China's WeChat. Using the xNFT protocol, Backpack is expected to develop in the form of "Web3 WeChat".

Using the xNFT protocol, "wallet + executable NFT" may replace "browser + web application" and become a new interactive paradigm with Web3 characteristics. In this mode, the concept of Web2 is dissolved. Wallets manage assets, and executable applications are also an integral part of assets, allowing users to access different dApps through different xNFTs. The relationship between Backpack and different xNFTs is similar to the relationship between WeChat and different Mini Programs.

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

Manage native, token-based apps in your wallet

Now that you have an avatar-like PFP xNFT, open and execute it, you're in the owner's exclusive chat group. And it's all happening in your wallet, no more complicated interactions like Discord, NFT ownership verification sites, and more. "Wallet + NFT" is a more Web3 interaction mode, and the experience is relatively more natural: if I own this NFT, I should be able to enter an exclusive group, so why do I need to interact with unrelated websites to achieve this?

Now you can send your favorite NFT to a Web2 friend, just ask him to download the Backpack and send the wallet address to you. After receiving the NFT, open the execution, and he will be in the same holder's exclusive crypto community as you, and successfully Onboard. Such a user experience may be more conducive to mass adoption.

Everything happens in the Backpack. Executable NFTs, or the Web3 experience can be nativized.

New distribution methods and traffic entrances

xNFTs can bring new ways to distribute content, applications, and perhaps help Backpacks become traffic portals.

The most common solution to Web2 is advertising. This model is actually not efficient. On YouTube, the cost of exchanging a large number of ads for users to actively click is huge, but it cannot guarantee the number and proportion of target users in the advertising audience. In order to make NBA fans see, many domestic companies advertise in Chinese in NBA stadiums, and for all non-Chinese fans, these high-value advertisements are ineffective.

How to distribute content and applications in a more targeted and efficient manner?

Since xNFT is an application, the project team can screen target users based on on-chain interaction records, take the initiative to accurately distribute these xNFTs to user wallets with certain behavioral characteristics. For example, a blockchain game application can be airdropped into the wallets of many blockchain game experts for free, and at the same time sold at a normal price on the NFT marketplace. Will players who get paid games for free be interested in trying it out, and if it's fun, will they actively promote it, which in turn will drive the overall sales of the game? I think it's possible.

Such a new distribution method may attract many developers to make their apps as xNFTs and distribute them through backpacks. Backpack can become a "traffic entrance" and "Web3 WeChat".

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

DeFi vs. gaming xNFTs on xNFT store xnft.gg

Backpack 愿景的重要拼图

Tristan Yver, co-founder of Backpack, spoke at Consensus2023 that it was the idea of xNFTs that was strong enough that they felt it made sense to start a company for it. This shows the importance of xNFTs in the Backpack blueprint.

Airdrops in NFTs are just one of the ways to play! Explain the secret weapon of xNFT - Backpack

Tristan Yver speaks at Consensus2023

Try out the mobile app of the Backpack exchange and you'll see that they're trying to combine the functionality of the exchange and the wallet. The two functional partitions, which were originally completely different, have a similar user interface design, and can switch functions with one click. The authors believe that Backpack is trying to unify the current fragmented user experience, combining all the different features that meet all the needs related to encryption into a unified experience - and to achieve this vision, xNFT's ability to make the Web3 experience nativized and help Backpack become a traffic on-ramp may be indispensable.