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Rather than eliminating competitors, it's better to grow the cryptocurrency cake.

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Competition is a game for losers.

Source: Blockworks

"You don't choose products that fit the market, but products with high market fit choose you," said Armani Ferrante.

"This is largely what is happening with NFTs on Solana," said the developer. The developer is best known for their Mad Lads NFT series and Backpack wallet. Now, the creator sees the potential for Solana to grow in the new product market.

Ferrante recently expressed his optimistic attitude towards the future of Solana on Blockworks' Lightspeed podcast, and many of its innovations may surprise those who doubt him.

The core network of Solana has generated a lot of incredible improvements, which will enable its "revival," Ferrante said. I am optimistic and eager to see its energy poured into revival and recovery.

Ferrante believes that the reason Solana is so fascinating is because of its superpowers. "All I need is a smart contract and a Helio subscription. That's it, I can build applications and transfer billions of dollars around the world without permission and with verification. It's incredible."

Very easy to disdain

Ferrante recalls his initial disdain for industry innovation in the past, admitting that he initially scoffed at the creative ideas that were ultimately proven to be very successful.

I realized this on NFTs," he said. His initial thought was, "I won't participate in this, it's too stupid." When encountering new things like Automated Market Makers (AMMs) and NFTs for the first time, it's easy to instinctively reject them. However, the fact is that many of these imperfect things eventually become very good ideas.

I have repeatedly verified this point in my experience in the encryption industry.

Solana's Backpack Wallet

Backpack wallet achieves broader functionality through xNFT that can run built-in code, which is an example of Ferrante's development approach.

"Before you start building, you actually don't know what you're building. It's not important where you start, but the million decisions and turns you make during the process that ultimately lead you to a good position."

Ferrante compared the difficulty of understanding the Backpack wallet function to the difficulties consumers faced when the iPhone was first launched.

Steve Jobs described it as an "internet computing device," which was a concept that was difficult for people to understand at the time. "An iPhone can not only make phone calls and send text messages, but you also have access to a rich developer ecosystem, an app store, a browser, and the ability to access rich device functionality. Any word can describe an iPhone."

Ferrante said that a crypto wallet is not just a token manager or an access device. This reminds people of Steve Jobs' description of the iPhone.

Ferrante said that a cryptocurrency wallet is a "blockchain computing device" that serves as the central point for accessing data and the blockchain. He stated that Backpack's goal is to integrate every protocol and blockchain into a single user interface in a "iPhone-like" manner. "You can build an awesome, flagship consumer product and position it more as a platform and open ecosystem where anyone can build on top of it."

When comparing Solana's successful path with other blockchains such as Ethereum and Cosmos, Ferrante quotes Peter Thiel's words: "Competition is for losers. All of our energy should be spent expanding the market share, not trying to eliminate the competition."