Backpack Exchange (BP)

Backpack is a web3 development team focusing on building multiple Web3 products to make using crypto easy, rewarding, and enjoyable. It aims to make the blockchain space more user-friendly, further fostering web3 mass adoption by delivering three main products:

• Globally compliant CEX:

The Backpack crypto exchange is a custodial, globally regulated exchange designed with user-friendliness in mind. It offers over 57 trading pairs on the spot and supports nearly 10 assets for futures beta trading. Notably, the exchange runs multiple airdrop, giveaway, and quest campaigns, with the loudest ones appearing in winter-spring 2024, during launches and airdrops for Backpack from its partners, such as Tensor.

• Backpack crypto wallet

The Backpack wallet crypto is a fully-noncustodial web3 wallet and browser extension, allowing users to store, buy, sell, swap, and send any assets across EVM and SVM blockchain networks, such as Ethereum, Solana, Eclipse, Base, Arbitrum, and much more. It allows users to access most of the Web3 dApps via its interface, delivering an enhanced UX and security, preventing them from accessing any fake or phishing website. 

• NFT collection

Backpack Exchange’s own collection of 10,000 NFTs was minted on April 20, 2023, on the Solana blockchain. It features 10,000 illustrated human profile picture xNFTs, making them the first NFTs to contain embedded executable scripts.

As of February 7, 2025, the floor NFT price per token is nearly 46 $SOL, representing a nearly 6x increase from the initial price of 6.9 $SOL.

Find out more about the Backpack crypto company’s services on its website.

🪙 Backpack token: Currently, there is no info about the potential release of Backpack exchange, as well as its utility. However, considering the recent launch of $BGB, or Bitget wallet token, as well as existing utilities of CEXs’ native tokens, like $BNB, $BGB, $MNT, and others, it is going to be used as a governance token for trading fee discounts, and accessing exchange’s exclusive financial tools, like launchpools, launchpads, airdrops, etc.

Hence, the Backpack token release may happen at any time, and it is most likely to occur retrospectively, rewarding the past users of the Backpack exchange. Taking into account this info, our team completely analyzed the project and found some interesting pros and cons of it:

✅ Backpack pros:

• Compared with Backpack’s trading volume in spring 2024, competition for airdrop now is much smaller. This may potentially increase your share in Backpack airdrop if there will be such;
• Presence of PoR audit and pentest from Hacken, according to Backpack’s announcement;
• High SEO, PR, and Growth Marketing scores;
• Above the average SMM, and Influencer Marketing performance;
• Presence of the top tier backers, who collectively invested over $37M;
• A diverse network of top-tier partners, actively collaborating with the project;
• Core team members have extensive work experience in Apple, FTX US, and Stripe.

❌ Backpack cons:

• No info on the potential token release, tokenomics, and Backpack exchange airdrop;
• Very weak Marketing Infrastructure.