DeGods: The Utimate Guide To Y00ts, $DUST and more

DeGod 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 being launched in 2021. Therefore, if you are interested in investing in colourful, virtual gods, here is an in-depth guide to get you started.

An artistic representation of the DeGods ecosystem.

What is DeGods?

DeGods is a Solana-based deflationary collection that consists of 10,000 virtual and super colourful gods. The mastermind behind this popular NFT project is an individual known as “Frank.” It appeared on Twitter in March 2021, with the unique selling point of being a deflationary NFT. By September 2021, DeGods was already very popular, with artists, developers and athletes supporting the project.

Solympus was launched in September, with its first members required to complete projects that granted them 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, holding a DeGods NFT has several perks. 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, de.xyz. 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.

This DeGod NFT sold for over $220K.

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. It can only be minted by staking or burning a DeGods NFT. The total supply of $DUST is 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. 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. There are also elected members – called the Divine Council – who also have a say when it comes to acquisitions and allocating funds. Finally, the Divine Council of DeDAO and Community Leaders of DeGods are together called DAO Leads.

DeDAO is sustained via the marketplace fee of 9.99% for each transaction. 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 we know so far about the y00ts visual style.

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 collection was set to launch at the end of September 2022. However, the launch was delayed and there is no official 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. It is always recommended that you do your own research before investing in any collection.

The post DeGods: The Utimate Guide To Y00ts, $DUST and more appeared first on NFT Evening.

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