What are y00ts NFT, collection of 15,000 PFP avatars on the Solana blockchain?

y00ts is a collection of 15,000 yeti-like PFP avatars made by the founding team of DeGods and is one of the most popular NFT projects in Solana. The project has received contributions from a number of high-profile people, including NFT influencers and football greats Wayne Rooney.

What are y00ts?

y00ts is a collection of 15,000,000 NFTs on Dust Labs’ Solana blockchain, which is the team behind the DeGods NFT collection. The y00ts NFT collection features a single image of a sheep with multiple overlaid metadata to give y00ts its characteristics and attributes. Previously, y00ts NFT was known as Duppies, whose original plan was to become the extended collection of the DeGods ecosystem. yXNUMXts has undoubtedly emerged as a notable standout in the NFT space, especially as it has garnered the interest of numerous celebrities including Allen Iverson, Howie Mandel, Wayne Rooney, and others.

In July 2022, the project took an unexpected turn when the team announced the Duppies mint in late July or early August. However, a Twitter hack ruined the plans and the team said, “We tried to do shit. We learned shit. Now we’re trying new shit.” It seems the creators of DeGods got it right when they lured DeGods keepers and NFT enthusiasts alike with a comeback. There is now a solid community of 15,000 eccentrics 3 on Web00 who participated in the yXNUMXts project using an innovative academic system and transparent currency list.

What makes this collection so special?

What makes this collection so special is the “y00ts white paper” which is its copyright and license version. Rather than a central entity that controls the project and its intellectual property rights, the NFT collection will have a record of who is authorized to use the NFT’s intellectual property. The collection has also gained popularity for its “uniqueness” as it has a quirky “bags” feature where the team checks and selects people who have applied and who they deem suitable enough to be whitelisted by the collection. .

Copyright, intellectual property and y00ts

The real differentiator of the y00ts collection is their approach to the rights and permissions they wish to grant to NFT holders. The current setting for most NFT collections is that owners only protect the intellectual property rights in the NFTs they own. The alternative is CCO, or creative commons, which realistically means that an NFT holder’s assets are stored in the public domain. When NFT holders want to create businesses, sub-communities, fan art and more around their NFT, it often increases interest and, in turn, increases the value of the NFT. However, the current setup does not support the idea that the entire collection benefits from it.

The simplest way to think about the system described by y00ts is that ⓨ is used as a means of registering a copyright, with an NFT collection being the regulatory body. Each collection would have its own registry ⓨ, where it would be easy to keep track of who is authorized to use the IP NFT. This allows projects to approve and deny usage requests at the speed of Web3.

The team behind the project says y00ts is the test bed for this new system ⓨ and they are also transparent in their whitepaper that “this is a rough approximation of how we think this system might work”. Open to criticism and to see how it goes.

Projects and workflows for y00ts

The main points of the project, the flow of the process and how the team sees it work are below:

  • Licensees can also hire artists to perform commissioned work for them.
  • Artists own the intellectual property of their works and receive a% of the royalties
  • Owners can purchase community-created traits in the shop. Artists can also set the strokes as free if they wish.
  • Tenants can only apply one custom functionality to their NFTs per month. Custom functions cannot change the shape / size / name of the function. A t-shirt cannot be exchanged for a fur coat (it must also be the same size) This will not change the metadata.
  • Community members can officially create and register sub-communities / sub-DAOs. They may charge SOL for admission. Earn a percentage of royalties on all sales to your subcommunities

How ⓨ make money with creators?

With the ⓨ list, the y00ts team believes they can unlock multiple levels of monetization for each stakeholder involved. Independent and 1/1 artists can:

  • take individual shots and charge SOL or DUST for them
  • create fashion brands within the collection (covering multiple traits)
  • perform paid (or free) commission work for licensees
  • collect money forever via royalty%
  • Artists are encouraged to sell their work in the y00ts shop because if they get their ⓨ listing, they can receive royalties on their work after the initial sale.

y00ts store st0re

The y00ts store will be a marketplace for y00ts custom features where anyone can submit customizations of any original y00ts feature for approval.

Approval criteria:

  • must be in the same space as the original stroke (cannot transform a t-shirt into a fur coat)
  • must be identifiable by the original metadata tag (a hat cannot become a crown)
  • no hate speech or pornographic images
  • no direct use of existing copyrighted intellectual property
  • meet a quality standard to match the collection
  • Once approved, the applicant (s) will have the ⓨ for the trait (s).

Having the ⓨ of a function allows you to:

  • set the price of the dash in the y00ts store
  • set up available trace supply
  • sell everything ⓨ to someone else
  • Collect 5% royalties on every dashboard sale

No one else can copy this trait / style / theme / brand. If derivatives attempt to enter the market, they will not be approved. Additionally, the team says no user-generated features will be added to the y00ts store after six months. At this point, the creators can separate the y00ts into their individual parts. You can sell your limited stock sweatshirt separately or trade it in for another stretch. Going forward, all new features added to the y00ts store will come through limited sourcing partnerships with major apparel and lifestyle brands.

Customization of y00ts

To get personalization rights, cardholders must stake their y00ts for 30 days, then a ⓨ token is added to the y00t metadata.

  • There will be a maximum of 6 ⓨ that each y00t can hold
  • Metadata example: “ⓨ Token: 1”

Holders can use this token ⓨ to apply a custom ⓨ functionality from the y00ts store to their y00t. Specifically, the new functionality must match the attribute y00t has in its metadata. For example, when you change a black hoodie for a custom gold hoodie, the metadata stays the same: hoodie. Once the ⓨ token is used, y00ts holders can still trade any trait with the original y00t base.

But they will have to wait another 30 days of staking before applying any new custom features from the y00ts store. Due to the staking requirement, holders should be careful which feature they choose. In particular, if a holder never uses the ⓨ token, y00t will simply collect them. As a result, NFT can potentially be sold at a premium with the tokens attached.

Can i make money if i am not an artist?

Imagine if Eminem and Snoop Dogg were rewarded for the value they brought to the entire BAYC collection and its unique features. These two mega stars in possession of BAYC add to the charm of the collection. However, the two celebrities are not compensated for this marketing assistance. Instead, they are free to use whatever BAYC they have in their creative work.

The real power of ⓨ is that it can lead to the creation of small clubs within communities. Someone who wants to create a sub-community can use the y00ts shop to find an artist and order a custom set of strokes with their logo or crest and register the club with ⓨ.

Any active member of the community can create their own club based on common interests, memes, or whatever. The key is that because they have the ⓨ in the feature set, they can monetize that sub-community. They can collect royalties on every y00t they sell with one of their features. They may also charge an upfront fee of SOL or DUST for features.

How much will y00t NFT cost?

The number of NFTs in the y00ts collection will be 15,000,000 NFTs and to create a y375ts NFT, users will need the native DeGods ecosystem token, DUST. The founders’ comments on Twitter suggest that 00 DUST tokens will be needed to mint a y375ts NFT. At the time of writing, 1320 DUST costs around $ 36, or around 1320 SOL.

DUST tokens and where to buy?

DUST is a token issued on the Solana Blockchain, started with zero supply. DUST can only be hit by burning NFT or betting on DeGod NFT. As a native token of the DeGods ecosystem, users can earn DUST by betting on DeGods NFT. However, the token can be purchased on some cryptocurrency exchanges, which are: MEXC, Jupiter, Serum DEX and Orca.

Conclusion

The y00ts project could potentially put Solana on the map when it comes to NFT as it still plays a minor role in NFT-based collections. Ethereum. Additionally, y00ts intends to implement its reasonable version of NFT copyright and ownership, which could produce some exciting results as NFT creators and admirers continue to push the boundaries of technology that can be exploited.

* PortalCripto values ​​the quality of the information and certifies the verification of all the contents produced by its team, underlining however that it does not formulate any type of investment recommendation, as it is not responsible for losses, damages (direct, indirect and ancillary), costs and failure I earn.

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