Backpack issued the BP token and airdropped 250 million tokens, with 25% (out of a total supply of 1 billion) mainly allocated to users of its points program and Mad Lads NFT holders. Notably, no tokens were distributed to founders, team members, or investors in this issuance. The remaining 75% will be unlocked based on company growth metrics, with half linked to operational goals and the other half reserved for a potential IPO. A unique feature of the BP token allows long-term holders to convert it into company equity, thereby directly tying the token's value to the company's performance.