NFT communities are recognized for being devoted, engaged and passionate – and one group embodies these traits above all others: DeGods.
Since minting on Solana in 2021, because of its clear management, culture-focused route and community-first mantra, it’s rapidly grow to be one of the crucial widely-known and well-liked NFT collections amongst blockchain fanatics – however how did it get to the place it’s as we speak?
Right here’s our full 2024 information to DeGods.
What’s DeGods?
DeGods is a set of 10,000 distinctive avatar NFTs, initially minted on Solana in October 2021. Every DeGod has a mixture of traits; from backgrounds and hairstyles to clothes, eyewear and different equipment.
The gathering quickly gained reputation because of its distinctive utility. Holders had been in a position to mine the $DUST token, with future initiatives together with entry to NFT monitoring app DYOR, unique merch and extra.
DeGods is a product of DeLabs, an organization with three foremost figures; Frank DeGods (Rohun Vora), Kevin DeGods (Kevin Henrikson), and Finn DeGods – who introduced his departure in August 2023. DeLabs additionally created the y00ts NFT assortment in November 2022, and continues to handle each collections to this present day.
As of as we speak, DeGods exist on all three main NFT blockchains: Solana, Ethereum and Bitcoin, and holders proceed to learn from an increasing checklist of options and utility, together with conversions into DeadGods NFTs (utilizing $DUST), entry to DeDAO, and – most lately – interactions with the $DEGOD token.
The historical past of DeGods
DeGods had been minted on October 8, 2021, priced at 3 SOL. A mix of demand and technical points noticed all 10,000 NFTs promote out in 7 seconds.
To mitigate an anticipated decline of flooring costs, DeGods instituted the “Paper Fingers Bitch Tax”, a 33.3% tax on anybody who listed their DeGods under the ground worth. Any funds collected from this tax had been used to purchase and burn DeGods NFTs, lowering the general provide.
By the point the Paper Fingers Bitch Tax was halted on January 1, 2022, the entire provide had been lowered to 9,465 – however that was simply the beginning of the modern strikes made by the gathering.
In January 2022, DeGods launched the $DUST token – and with it, the DeadGods. Holders might stake their DeGods to earn $DUST, which might then be used to improve their DeGods into DeadGods at the price of 1,000 $DUST. This revitalized curiosity, and addressed aesthetic points with DeGods.
April 2022 noticed DeDAO determine to buy Big3 Basketball staff Killer 3’s for $625,000 USD, giving DeGods its first mainstream publicity, and giving holders choices to learn from the IP and licensing rights of the staff – in addition to alternatives to buy possession stakes within the type of NFTs.
December 2022 noticed DeGods announce plans to maneuver from Solana to Ethereum, accomplished in March 2023 – however not earlier than the beforehand burned 535 DeGods made their return as Bitcoin Ordinals in February 2023.
The chain-hopping wouldn’t cease there, as in Might 2024, DeGods made the shock transfer emigrate each DeGods and y00ts (which had spent the final yr on Polygon) again to Solana, with a bridge now supporting the existence of DeGods on Solana, Bitcoin and Ethereum.
September 2024 noticed DeGods launch the $DEGOD token – however as with all issues DeGods, they took a singular strategy. Holders are in a position to:
- Swap a DeGod NFT for 550,000 $DEGOD tokens
- Burn a y00ts NFT for 120,000 $DEGOD tokens (no matter rarity), or
- Burn 1 $DUST token for 36 $DEGOD tokens
Reactions had been blended, with many nervous concerning the influence of tying DeGods on to a token might have on flooring costs. Within the short-term, DeGods have declined from 2.00 ETH on September 16 to 0.94 ETH on the time of writing – however the long-term results are but to be recognized.
What’s forward for DeGods?
DeGods at all times stride ahead confidently – certainly the staff have acknowledged that “DeGod” stands for “do every thing nice or die” – and with that mantra on the coronary heart of what they do, we’re certain they’ll proceed to make waves.
Though the debut of $DEGOD has been a blended bag, we’re certain the DeGods staff has deeper utility in thoughts for the token – although when that will probably be revealed is anybody’s guess.
They’ve been unafraid to push boundaries, problem conventions or observe the trail well-trodden – and it’s that stage of confidence that’s gained them so many supporters to this point.
Mud Labs, a blockchain know-how side-project to DeGods, has started to develop software program options for different NFT initiatives – off the again of their chain-hopping experience – and this might result in additional improvements for DeGods in future.
The DeDAO will play a serious half in what DeGods will grow to be. The eagerness from its members is felt in all places you flip – from X to Discord and extra – making certain that the pursuits of the DeGods staff and their holders are at all times aligned.
With DeGods, anticipate the sudden.
