DeGods has established itself as one of Solana’s top blue-chip NFT collections. The collection and community, which describes itself as a “deflationary collection of degenerates, punks, and misfits”, is still riding high after launching in 2021. So, let’s take a look at the colourful, virtual gods with an in-depth look at what DeGods are, the benefits of holding DeGods, and more.
What is DeGods?
DeGods is a Solana-based deflationary collection that consists of 10,000 virtual and super colourful gods. An individual known as “Frank” is the mastermind behind this collection. DeGods first appeared on Twitter in March 2021, with the unique selling point of being a deflationary NFT. By September 2021, the colourful project was already very popular, with artists, developers and athletes supporting the project.
Solympus launched in September, and required its first members to complete projects to gain early access to the NFTs. After several months of intense hype – which included a video of a man jumping from a plane in a DeGods costume – staking went live in January 2022. It is safe to say that the popularity of the collection was solidified when, after one day, more than half of its supply was staked.
What are the benefits of holding DeGods NFTs?
In addition to being a highly sought-after NFT, there are several perks of holding a DeGods NFT. First off, the DeGods NFTs are deflationary. This means that, due to the fact that you can burn the NFTs, their value will continue increasing. When a holder burns their DeGod, it automatically upgrades to a DeadGod, increasing its value.
Additionally, you can stake your DeGods NFT to earn $DUST – the collection’s native taken. $DUST enables you to participate in raffles, upgrades, auctions and more. If you burn your NFT in favour of a DeadGod, you will also earn more $DUST. This is because DeadGods give holders a daily stream of 7.5 $DUST.
DeGods holders also gain access to the community-owned content platform. Here, holders can publish their own content and reach out to other holders. Last but not least, in April 2022, DeGods purchased the basketball team Killer 3s, which forms part of Ice Cube’s Big3 League, for $625,000. Holders have full IP and licensing rights for anything team-related. Furthermore, this launch gave holders the opportunity to mint part of 975 killer 3’s Gold-tier NFTs for $5,000 apiece. Unquestionably, this purchase is but one of the many things the DeGods team has in store for holders.
How do you buy DeGods NFTs?
DeGods are available on Magic Eden, Alpha Art, Solanart and OpenSea. After purchase, you can join the official Discord channel, where you can connect with other members and verify your assets. Before purchasing an NFT, you can check its rarity using the Official Rarity Tool and Sniping Tool.
What are DeadGods?
You can mutate your DeGods and transform them into DeadGods for 1000 $DUST. During the mutation process, you will be changing the NFTs metadata, to reflect the one-of-one swaps for DeadGod traits. By burning your DeGod, you will be removing it from circulation, increasing its rarity and benefitting the entire community.
What is DUST token?
$DUST is the DeGods collection’s official token on the Solana blockchain. Burning or staking a DeGods NFT is the only way to mint $DUST. The $DUST total supply has been capped at 33,300,000 tokens, with halvening events taking place at supply milestones. To earn $DUST, you can mine 2.5 DUST per day per DeGod and 7.5 DUST per day per DeadGod. There is no other way of earning $DUST. Furthermore, in the future, there will be new collections that can only be purchased using $DUST.
What is DeDAO?
DeDAO is a unique aspect of the DeGods ecosystem. The community leaders and founders of DeDAO are the members of the DeDAO, who serve as the primary decision-makers.
Community leaders and NFT experts – the DeAlpha Team – are the ones that navigate the collection’s place in the market and make decisions. Additionally, a group of elected members – the Divine Council – provide input on acquisitions and allocating funds. Finally, the Divine Council of DeDAO and Community Leaders of DeGods are together called DAO Leads.
The marketplace fee of 9.99% for each transaction sustains DeDAO. Of that amount, 6.66% goes to DeDAO and 3.33% to the Core Team for DeGods and DeadGods sales. The DeDAO then uses these funds to acquire assets for auctions and raffles, fund community events and pay community-based talents for any work done for the community.
What is y00ts?
Y00ts is a brand new NFT collection from the DeGods team. It will consist of 15,000 NFTs that allow users to make their own PFPs. The collection revolves around a sheep avatar, with layers of metadata that give each NFT its unique characteristic.
According to the y00ts paper, “Each collection would have its own ⓨ registry, where it’s easy to track who’s approved to be using the NFT’s IP. This allows projects to approve & reject usage requests at Web3 speed.” To mint a y00ts NFT, interested individuals had to apply for a scholarship to get on the y00tlist – the y00ts version of a presale list. The initial release date of collection was the end of September 2022. However, despite selling out the mint, the launch was delayed and there is no official y00ts launch date yet.
Final notes
The NFT market is volatile. However, the fact that the DeGods collection maintained its high price and value is a good indication of its longevity. Still, if you are looking to buy into any collection, always do your own research before investing.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
