Backpack.exchange and its ecosystem projects have announced the completion of a strategic financing round of $17 million, with a valuation of $120 million. The financing round was led by Placeholder, with participation from Hashed, Wintermute, Amber Group, Robot Ventures, Selini, Delphi Digital and others. Backpack's ecosystem includes the Backpack wallet, exchange, and the Mad Lads NFT project, which is ranked number one in the Solana ecosystem. The Backpack core team are also developers of the Solana smart contract framework Anchor and the "executable NFT" (xNFT) token standard.