Ultimate Guide to DeGods: The Rise, Evolution, and Future

DeGods, a Solana-based deflationary NFT collection, has taken the crypto world by storm. With a limited collection of 10,000 virtual gods, its journey from inception to becoming a major player in the NFT space is nothing short of remarkable. As the NFT landscape continues to evolve, there are numerous projects making waves in the industry. For those interested in diving deeper into the world of NFTs, AJ Marketing's blog post provides a comprehensive list of the '17 Best NFT Projects You Must Know in 2023'. This article delves deep into the evolution, challenges, and future prospects of DeGods.

The Genesis of DeGods

In March 2021, the DeGods project was introduced to the world. The collection was initially released to an exclusive list of potential investors who had to complete an online challenge to be included. However, the initial release faced challenges with bots and fake NFTs, leading to a rapid "sale out" of the assets. Despite this setback, the DeGods team was undeterred and set out to introduce key upgrades that would revitalize the project.

By September 2021, DeGods made a significant impact in the NFT community with a single Twitter thread that introduced the "Paperhands Bitch Tax", a 33.3% tax on anyone that listed their NFT under the floor price. This innovative approach to stabilize the value of the NFTs and discourage rapid selling garnered significant attention. Within just a week, DeGods became the most hyped upcoming mint on the Solana blockchain. The buzz was so immense that a video was made just two days after the DeGods Discord was opened, capturing the excitement and anticipation surrounding the project.

Rohun Vora, the brain behind DeGods, remained anonymous throughout the project's development. It wasn't until November 29, 2022, that he revealed his identity to the world.

By October 2021, the project witnessed a significant milestone. The entire collection of DeGods NFTs sold out in less than 10 seconds, with each NFT priced at 3 SOL, equivalent to $450 at that time

The Fall of the "Paperhand Bitch Tax"

The "Paperhand Bitch Tax" (PHBT) was an audacious attempt to stabilize the value of DeGods NFTs. By imposing a hefty tax on those who tried to sell their NFTs below a certain price, the idea was to discourage rapid selling and ensure the NFTs retained their value. However, in practice, this approach had its challenges. Instead of fostering a stable and thriving community, it seemed to create barriers. The realization dawned that PHBT was not the solution they had hoped for.

The Rise of $DUST

In the beginning of the New Year 2022, DeGods made a bold move. They decided to leave the PHBT era behind and usher in a new chapter. The introduction of a new utility token, $DUST, was announced. $DUST was set to play a pivotal role in the ecosystem, offering holders new opportunities and privileges.

$DUST was launched with a zero supply and had a strict upper limit set at 33,300,000. But what truly set $DUST apart was its deflationary nature. Designed with three halving periods, the staking rewards for the token would decrease by 50% at each halving, ensuring its scarcity and potential value appreciation over time.

For those invested in DeGods, $DUST shone as a golden opportunity. There were several paths to gather this precious token:

• Earning: Through active participation in community endeavors and initiatives.

• Staking: By staking their DeGods NFTs, holders could earn $DUST as a form of passive income.

• Buying: $DUST could be traded and purchased on various marketplaces.

Within the DeGods universe, $DUST unlocked a treasure trove of perks:

• Art Upgrades & Merchandise: $DUST could be expended to acquire exclusive art upgrades and DeGods merchandise.

• Exclusive Access: It granted entry to special community programs, games, and bespoke products.

• Winning Opportunities: Holding $DUST provided opportunities for raffles and prize draws.

• Priority Pass: For NFT enthusiasts, $DUST ensured priority access to DeGods' upcoming collections.

DeadGods in the DeGods Universe

On March 22, 2022, the DeGods team announced the introduction of DeadGods via their official Twitter account, @DeGodsNFT. Here are the key facts about this new development:

• DeadGods was created to elevate the overall DeGods experience, aiming to make holders feel akin to deities.

• The minting of DeadGods is set to begin on March 31st.

• The upgrade to DeadGods will cost 1000 $DUST tokens per DeGod.

• Due to the limited supply of $DUST, not every DeGod holder will be able to upgrade immediately.

• Only existing DeGod holders can mint DeadGods.

The Phenomenon of y00ts

y00ts, an NFT collection on the Solana blockchain, is another brainchild of Dust Labs, the creators behind DeGods.

Before the world came to know them as y00ts, they were initially introduced as Duppies. Envisioned as an "expansion collection" for the DeGods ecosystem, the Duppies were set to make their mark. In early July 2022, there was a buzz in the community about an impending Duppies mint slated for the end of July or the beginning of August. However, fate had other plans. Following a Twitter hack, the team at Dust Labs decided to pivot.

These youthful entities, y00ts, are not just younger versions of DeGods. They come with their distinct flair, characterized by vibrant designs and attributes. Some key facts about y00ts:

• Supply and Cost: y00ts has a total of 15,000 NFTs. Minting requires 375 $DUST tokens, translating to $761.25 or 21.29 Solana ($SOL).

• $DUST Acquisition: Earned by staking DeGods NFTs or purchasable on platforms like the Jupiter Aggregator on Solana.

• Licensing: y00ts' ⓨpaper introduces a decentralized approach to NFT copyright. The collection itself oversees intellectual property rights, acting as a "registry" for approved IP users.

• Trait Marketplace: "The y00ts st0re" will offer custom traits for y00ts NFTs. Approved traits allow artists to earn from sales. Collaborations with major brands are planned for future trait releases.

• NFT Customization: Staking a y00ts NFT for 30 days grants a “ⓨ token” for trait customization. Traits can be swapped only for similar categories.

• Getting a y00t NFT: Eligibility for minting requires approval from the “y00tlist” application process. Approved members need 375 $DUST for minting.

DeGods Latest Season: DeGods Season 3

DeGods announced its eagerly awaited Season 3 on August 13, 2023. Leading up to this announcement, DeGods teased its community with previews on August 10, 2023, capturing significant attention with over 1.1 million views. Further amplifying the excitement, DeGods revealed on the same day that they would be adding 20,000 new pieces of art to the NFT collection without any dilution. Each DeGod would now encompass 4 pieces of generative art. Additionally, in response to community feedback, they announced, "We're getting rid of the traits you don't like."

Key highlights of DeGods Season 3 include:

• Artistic Evolution: Instead of the typical "art upgrade" seen in many NFT projects, DeGods introduced an "Art Downgrade". Drawing from the iconic styles of the 1960s pop art and classic American comic book illustrations, this approach offered a vibrant and simpler art style. Hyperlink

• Points Parlor Introduction: A novel gamified business model, the Points Parlor was developed to boost community engagement and elevate the DeGods brand. This platform not only rewards DeGods NFT holders with loyalty points but also serves as a unique advertising product, bridging the gap between brands and DeGods holders. Hyperlink

• Migration and Expansion: DeGods also signaled its commitment to growth with the announcement of the migration of its sister project, y00ts, from Polygon to Ethereum. Hyperlink

The Future of DeGods

DeGods announced their latest initiative, "The Comeback." Here's a detailed breakdown:

• Season Reset: All DeGods have been reset to their original state from Season 1. This provides users with the flexibility to seamlessly switch between Seasons 1, 2, and 3 directly on the blockchain. Such a feature ensures that the community has access to the entire range of DeGods' artistic evolution.

• Migration of y00ts: One of the highlights of "The Comeback" is the migration of y00ts to the Ethereum platform. This migration, scheduled for the week following the announcement, comes as a boon for users as it's entirely free of charge. For those unfamiliar, y00ts is another project introduced by the DeGods founder, Frank, and like DeGods, it was initially issued on the Solana blockchain.

• Unified Progress: Emphasizing the interconnected growth of their projects, DeGods made it clear that from this point forward, both y00ts and DeGods would progress hand in hand, marking a unified approach to their future endeavors.

Conclusion

DeGods has consistently showcased its ability to adapt and innovate in the ever-evolving NFT space. From its inception in 2021 to the recent introduction of Season 3 and "The Comeback" initiative, the project has made significant strides. With strategic moves like the "Art Downgrade", the introduction of $DUST, and the expansion with y00ts, DeGods continues to set benchmarks in the industry. As we reflect on its journey, it's evident that DeGods is not just an NFT collection but a dynamic force shaping the future of digital art and community engagement.

For those looking to delve deeper into the world of NFT art investing, check out the DXA Group's Investing in NFT Art: The Ultimate Guide for Newcomers. This guide offers invaluable insights into understanding the market, evaluating NFTs as investments, and the intricacies of building and managing an NFT art collection. As the NFT landscape continues to evolve, staying informed, connected, and engaged is paramount. This not only applies to projects like DeGods but also to individual art pieces and collections. The future of art is being redefined, and it's an exhilarating journey for all involved.