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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.
An artistic representation of the DeGods ecosystem.
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.
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.
This DeGod NFT sold for over $220K.
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.
$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.
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.
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 we know so far about the y00ts visual style.
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.
