The DeGods NFT neighborhood has shaken up the NFT house in a giant method. With a present ground worth of 1,200 SOL, or greater than $26,000 (as of writing), the DeGods assortment has shot up into the highest 5 most dear 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 initiatives on each OpenSea and Magic Eden.
Its sister mission, y00ts, which launched in September 2022, noticed comparable recognition, 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 initiatives, DeGods and y00ts made headlines when their groups introduced they’d be leaving the blockchain in 2023. The initiatives will bridge to Ethereum and Polygon, respectively. Given the approaching bridge, the hype, and DeGods’ Cinderella story comeback from the top of 2021, now is a superb time to refresh your information on what the DeGods mission 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 neighborhood.
What number of DeGods are there?
There are at present 9,465 DeGods NFTs in existence, because the crew has burned the remaining 535 (extra on that later). They characteristic numerous traits starting from Frequent to Unusual, Uncommon, Tremendous Uncommon, and Mythic. Among the Tremendous Uncommon and Mythic traits within the assortment embrace the Divine Gown, the Heaven background, Night time 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 purchase DeGods NFTs on the Magic Eden, Alpha Artwork, OpenSea, and Solanart marketplaces.
Affecting the worth of the whole assortment additional is the truth that DeGods NFTs could be burned.
When the Degods crew first introduced the mission on Twitter in September 2021, they did so by detailing its plans to institute what it referred to 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, mission builders despatched the funds from that tax to a treasury pockets they used to purchase again the most cost effective DeGods NFTs available on the market.
And right here’s the place issues get fascinating: The DeGods crew 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, changing into more and more uncommon and driving up the gathering’s worth general.
What are DeadGods?
DeadGods was the DeGods NFT improve that allowed collectors to purchase a “advantageous artwork” model of their present NFT. Beginning on March 31, 2022, DeGods holders might pay 1,000 DUST (the neighborhood’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 crew added the DeadGods NFTs to the metadata of collectors’ authentic 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 outdoors the neighborhood. The brand new NFTs appear like undead and decrepit variations of their authentic counterparts, and the community celebrated the inventive improve.
When did DeGods mint?
DeGods minted on the Solana blockchain on October 8, 2021, for 3 SOL every. Whereas the crew did a fantastic job of constructing anticipation for the gathering, each the lead-up to the mint and its instant aftermath noticed quite a lot of controversy.
The DeGods crew had provided allowlist spots to neighborhood members via “bounties,” basically having folks movie themselves doing pushups or chatting concerning the mission with family and friends members. Sadly, bots mucked up the mint, inflicting the mission to sell out in less than ten seconds. Hundreds had been unable to mint, and the neighborhood rapidly labeled the mission a rug pull. The ground worth crashed, and the crew got down to construct the mission again up.
Within the coming months, they launched a handful of merchandise, like de.xyz, a webpage devoted to offering folks with Solana NFT sources, and DePalace, the mission’s “non-public discussion board.” Regardless, the mission’s ground stored plummeting. Issues had been going so badly by November 2021 that at the very least one crew 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 crew relaunched the DeGods assortment with the DeadGods improve, and issues started to show round for the mission.
What’s DeDAO?
DeDao is the neighborhood’s decentralized autonomous group. It will get its funding from the DeGods’ 9.99 p.c market payment, which is break up into two elements. 6.66 p.c goes to DeDAO to assist fund mission growth, whereas the remaining 3.33 p.c goes on to the core crew.
The DeDAO management, which consists of DAO Leads, The Divine Council, and the DeAlpha Staff, additionally holds neighborhood raffles and works collectively to resolve on DAO acquisitions.
For instance, certainly one of these acquisitions noticed DeDAO purchase a basketball crew in Ice Dice’s Big3 Basketball League.
What’s DUST?
DUST is the DeGods neighborhood token created to drive utility within the mission additional. It’s an SPL token on the Solana blockchain with zero beginning provide. The crew goals to cap the availability of DUST at 33,300,000. The one technique 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 out there for buy with SOL. The main utility of the token is to remodel your DeGod right into a DeadGod, however collectors may also use it to participate in raffles, auctions, and mint future collections. The DeGods crew additionally claims that the DeDAO will actively search alternatives to combine DUST utility into different important initiatives within the Solana Ecosystem.
Bridge to Ethereum
On December 25, the DeGods crew released a statement that the mission 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 neighborhood, thanking religious SOL collectors for his or her assist and stating that he and his crew realized that to develop, they would want to discover new alternatives.
“We consider now’s the time to take a calculated threat and embark on a brand new journey,” mentioned 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 companies (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 laborious to simply accept, however it’s been powerful to develop on the charge we wish to develop. If Ethereum is the place we now have to go to continue to grow, it’s what we now have to do.”
Total, the mission 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 neighborhood: “We tried some shit. We Realized some shit. Now we’re attempting 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.
