DeGods has ascended: the Solana NFT project flies ahead of the Buzzy Y00ts launch

In short

  • The Solana DeGods project dominated the entire NFT market on the last day, setting a new all-time low price.
  • The creator’s new NFT project, y00ts, will launch on Friday and has attracted celebrities and other high-profile figures.

As the buzz grows around this week’s launch of the y00ts Active NFT project Solana– which has attracted celebrities and crypto influencers – awards for the current team NFT collection, DeGods, reached new highs over the weekend. And on the last day, DeGods outperformed all NFT projects in terms of trading volume.

DeGods has exceeded a minimum price– ie the cheapest quoted NFT on a market – of 500 SOL for the first time on Sunday. At the time of writing, the Magic Eden main market plan headquarters at 587 SOL, or nearly $ 18,650. This makes it the most valuable Solana-based NFT Profile Picture (PFP) project with at least 10,000 items, easily outperforming Solana Monkey Business at SOL 192 (around $ 6,100) at the low end.

In terms of the broader NFT market, DeGods’ entry-level pricing ranks fourth among PFP projects with at least 10,000 items. DeGods follows the Ethereum-based Bored Ape Yacht Club, CryptoPunkAnd Lunar birds collected in this order, for data from NFT base price. DeGods is located just above the Mutant Ape Yacht Club on this list.

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A flurry of sales on DeGods’ secondary market helped drive the minimum price up over the weekend, and the project outperformed every other project on the market, including Ethereum. Analysis platform CryptoSlam reports $ 1.3 million in sales from 70 transactions in the past 24 hours, beating the Bored Ape Yacht Club with nearly $ 1.1 million from nine transactions.

DeGods was launched in October 2021 as Solana’s NFT market was heating upand the 10,000-NFT project gained significant momentum this spring between the launch of DeadGods – an initiative that enabled DeGods owners to transition to new works of art – and the DUST utility tokenthat DeGods / DeadGods owners earn as a reward for staking their NFTs.

The project gained notoriety in April when bought a majority stake in a team in BIG3, a 3v3 basketball league co-founded by rapper and actor Ice Cube. Also BIG3 sold NFT-based team shares to rapper Snoop Dogg and entrepreneur Gary Vaynerchuk, among others, and Ice Cube himself bought one of the NFT DeGods.

An NFT is a blockchain Token which can serve as proof of ownership of an item, including assets such as PFP, digital artwork, and collectibles. Solana is the second most active blockchain platform for NFTs behind Ethereum, and DeGods recently led the charge as the platform attracts more collectors and greater exposure.

DeGods’ momentum has increased considerably lately as the creator of the project, which just keeps going Franco– plans to launch a new NFT collection called y00ts on Friday.

Y00ts is a Solana-based profile picture project that will launch with 15,000 NFTs and has curated its allowed list, which is a list of people who are allowed to reach an NFT at launch, asking people to apply for a “scholarship” “and then publicly posts those who have been accepted through the y00tlist Twitter account.

With an array of NFT influencers and community members, the list has grown to include celebrities such as the football legend Wayne Rooneyanimator Howie Mandelrap singer Little childyoutube star iJustineand former NBA star Allen Iversonas well as athletes, professional esports players and other personalities from various sectors.

Y00ts aims to differentiate itself from traditional PFP projects by implementing new forms of personalization, as well as ways of earning for creators. According to his White papery00ts plans to launch a showcase where holders can purchase and equip visual traits for their NFTs from various artists, with artists taking a portion of the royalties in the process.

Frank is well known in the Solana space as an outspoken creator and his ambitions with y00ts could go beyond rethinking visual traits and artist compensation.

A Deposit mark (discovered by a Twitter user Guitar biscuits) suggests a wide range of potential y00ts cases, from NFT and gaming to other entertainment ventures, online services, and more. It was presented by Mark Jansen of the Fenwick & West law firm, which includes the producer of the Bored Ape Yacht Club Yuga workshops among its important customers.

As momentum builds around y00ts, DeGods is hitting new highs and also challenging Ethereum’s NFT heavyweights on pricing. We’ll see, however, if the y00ts launch will live up to the hype and if DeGods will continue to build on this latest push as well.

Editor’s Note: This article has been updated to correct the NFT production date.

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