The DeGods NFT group has shaken up the NFT house in a giant method. With a present flooring worth of 1,200 SOL, or greater than $26,000 (as of writing), the DeGods assortment has shot up into the highest 5 Most worthy NFT collections throughout all chains, coming in after Bored Ape Yacht Membership, CryptoPunks, Mutant Ape Yacht Membership, and Moonbirds. The gathering has greater than 4,100 distinctive homeowners and is likely one of the highest-ranked Solana tasks on each OpenSea and Magic Eden.
Its sister undertaking, y00ts, which launched in September 2022, noticed related reputation, attracting the curiosity of a number of celebrities, together with Allen Iverson, Wayne Rooney, and Howie Mandel.
Two of essentially the most well-known and revered Solana-based tasks, DeGods and y00ts made headlines when their groups introduced they’d be leaving the blockchain in 2023. The tasks will bridge to Ethereum and Polygon, respectively. Given the upcoming bridge, the hype, and DeGods’ Cinderella story comeback from the top of 2021, now is a wonderful time to refresh your information on what the DeGods undertaking is and the way it’s altering the face of Solana NFTs.
What are DeGods NFTs?
DeGods is a deflationary 10k PFP assortment of gods clad in a inventive aesthetic mixture of recent streetwear-meets-ancient-deity vibes, with an emphasis on constructing utility for its group.
What number of DeGods are there?
There are at the moment 9,465 DeGods NFTs in existence, because the workforce has burned the remaining 535 (extra on that later). They characteristic varied traits starting from Frequent to Unusual, Uncommon, Tremendous Uncommon, and Mythic. A number of the Tremendous Uncommon and Mythic traits within the assortment embrace the Divine Gown, the Heaven background, Evening Imaginative and prescient Goggles, the Mythic Helmet, Smoke Ring, and extra. The rarest trait within the assortment is the Medusa Head, of which there are solely 25 in existence.
The place can you purchase DeGods?
Collectors should buy DeGods NFTs on the Magic Eden, Alpha Artwork, OpenSea, and Solanart marketplaces.
Affecting the worth of your complete assortment additional is the truth that DeGods NFTs might be burned.
When the Degods workforce first introduced the undertaking on Twitter in September 2021, they did so by detailing its plans to institute what it known as a “Paperhands Bitch Tax,” a 33.3-percent tax levied at anybody who listed their DeGods NFT beneath the mint worth. For a time, undertaking builders despatched the funds from that tax to a treasury pockets they used to purchase again the most affordable DeGods NFTs available on the market.
And right here’s the place issues get fascinating: The DeGods workforce burned all 535 of the NFTs it purchased again with this treasury pockets. This resulted within the lowest-ranking items within the assortment, these within the Frequent class, turning into more and more uncommon and driving up the gathering’s worth total.
What are DeadGods?
DeadGods was the DeGods NFT improve that allowed collectors to purchase a “positive artwork” model of their current NFT. Beginning on March 31, 2022, DeGods holders might pay 1,000 DUST (the group’s utility token) to acquire the brand new model of their NFTs (which featured the identical rarity however had their attributes re-illustrated).
Because the workforce added the DeadGods NFTs to the metadata of collectors’ unique NFTs, they’re thought of the identical and might’t be bought individually. On this method, the introduction of DeadGods didn’t inflate the gathering’s provide whereas including to its worth. It was a much-needed shot within the arm for holders and grabbed the eye of many individuals exterior the group. The brand new NFTs appear like undead and decrepit variations of their unique counterparts, and the community celebrated the creative improve.
When did DeGods mint?
DeGods minted on the Solana blockchain on October 8, 2021, for 3 SOL every. Whereas the workforce did an important job of constructing anticipation for the gathering, each the lead-up to the mint and its rapid aftermath noticed quite a lot of controversy.
The DeGods workforce had supplied allowlist spots to group members via “bounties,” basically having individuals movie themselves doing pushups or chatting in regards to the undertaking with family and friends members. Sadly, bots mucked up the mint, inflicting the undertaking to sell out in less than ten seconds. 1000’s have been unable to mint, and the group rapidly labeled the undertaking a rug pull. The ground worth crashed, and the workforce got down to construct the undertaking again up.
Within the coming months, they launched a handful of merchandise, like de.xyz, a webpage devoted to offering individuals with Solana NFT assets, and DePalace, the undertaking’s “personal discussion board.” Regardless, the undertaking’s flooring stored plummeting. Issues have been going so badly by November 2021 that at the least one workforce member claimed developers felt like abandoning the project altogether.
In January 2022, DeGods axed the Paperhand Bitch Tax as soon as and for all and launched the DUST token. Shortly after the token launch, the workforce relaunched the DeGods assortment with the DeadGods improve, and issues started to show round for the undertaking.
What’s DeDAO?
DeDao is the group’s decentralized autonomous group. It will get its funding from the DeGods’ 9.99 % market payment, which is cut up into two components. 6.66 % goes to DeDAO to assist fund undertaking growth, whereas the remaining 3.33 % goes on to the core workforce.
The DeDAO management, which consists of DAO Leads, The Divine Council, and the DeAlpha Staff, additionally holds group raffles and works collectively to resolve on DAO acquisitions.
For instance, certainly one of these acquisitions noticed DeDAO purchase a basketball workforce in Ice Dice’s Big3 Basketball League.
What’s DUST?
DUST is the DeGods group token created to drive utility within the undertaking additional. It’s an SPL token on the Solana blockchain with zero beginning provide. The workforce goals to cap the provision of DUST at 33,300,000. The one solution to mine DUST is to stake a DeGods or DeadGods NFT. Staked DeGods earn 2.5 DUST per day, whereas staked DeadGods earn 7.5 DUST per day.
Nevertheless, DUST is listed on the DEX Raydium and is on the market for buy with SOL. The main utility of the token is to rework your DeGod right into a DeadGod, however collectors may use it to participate in raffles, auctions, and mint future collections. The DeGods workforce additionally claims that the DeDAO will actively search alternatives to combine DUST utility into different important tasks within the Solana Ecosystem.
Bridge to Ethereum
On December 25, the DeGods workforce released a statement that the undertaking would formally bridge to Ethereum in Q1 of 2023. In a video posted to his Twitter account, creator Rohun Vora, recognized in Web3 as Frank III, addressed the Solana NFT group, thanking religious SOL collectors for his or her help and stating that he and his workforce realized that to develop, they would want to discover new alternatives.
“We imagine now could be the time to take a calculated threat and embark on a brand new journey,” stated Vora. Following his video, Vora additionally participated in a Twitter space the place he answered questions and supplied extra context to the announcement.
Within the house, he made parallels between streaming providers (like Netflix and HBO Max) contending for mental property and blockchains racing to create essentially the most strong NFT platforms. He additionally famous that an argument might be made that DeGods had capped out on Solana, saying, “It’s arduous to just accept, nevertheless it’s been powerful to develop on the fee we wish to develop. If Ethereum is the place we’ve to go to continue to grow, it’s what we’ve to do.”
General, the undertaking and its management have proven themselves to be extremely resilient. And this newest transfer continues to show it. Should you scroll right down to the underside of the DeGods’ web site, you’ll discover three quick sentences encapsulating the builders’ method to their NFT group: “We tried some shit. We Realized some shit. Now we’re making an attempt some new shit.”
It’s the right encapsulation of the perspective Web3 entities ought to undertake in the event that they wish to create one thing of substance, whether or not in a crypto winter or not.
