According to its description on OpenSea, DeGods is “a deflationary collection of degenerates, punks, and misfits.” It was built on the Solana blockchain, and its floor price is 245 SOL. After purchasing a DeGod, a holder can join an exclusive Discord server and verify their assets in order to gain access to certain DeDAO channels. DeGods grew in sales once OpenSea started integrating Solana NFTs onto its platform last month.
Within a relatively short period of time, DeGods has cemented itself as one of the most popular NFT collections throughout the entire Solana blockchain ecosystem, as has even attracted big-name holders such as NBA legend Shaquille O’ Neal.
WHO CREATED THE DEGODS COLLECTION?
The DeGods NFT collection was created by Frank DeGods. Frank is not publicly doxxed and his personal information is unknown.
HOW DOES THE $DUST TOKEN WORK?
$DUST allows the funding of the DeGods DAO, and is held in the DAO treasury. The DAO votes on which NFT assets to acquire, and the aforementioned NFTs that the DAO chooses to purchase are held in the DeDAO vault. The DAO often hosts $DUST auctions and raffles for exclusive whitelist spots and NFTs that are held in the DeDAO vault. In the future, the DeDAO vault will list DeGods for purchasing on a DUST store.
The $DUST token, the collection’s native digital currency, is built on the SPL-token protocol. Its maximum supply is 33,300,000. DUST will have three halving periods, and each halving will slash the token’s staking rewards by 50%. The two ways of earning DUST tokens are through earning and staking. DeGod holders can earn 10 DUST tokens per day by staking their NFTS, thus giving them the opportunity to generate a passive income. Holders can also burn DeGods, and burning Gods will remove them from the circulation. Burning an NFT and removing it from circulation will increase the value of the entire collection.
HOW DO DEAD GODS WORK?
Holders can turn their DeGod into a “Dead God” by minting a special concoction called StarDust for 1000 $DUST tokens. Because they are not identified as DeGods, Dead Gods don’t inflate DeGods’ supply. Holders who acquire a DeadGod do not have their own separate NFT, but another version of a DeGod. Through earning a DeadGod, holders can earn double the amount of DUST tokens compared to holding just a DeGod.
HOW DID DEGODS DAO MAKE HISTORY WITH BIG3 PROFESSIONAL BASKETBALL?
Recently, the DeGods DAO created headlines when it became the first NFT project to acquire a basketball team, for $625,000. The DAO purchased 25 “fire-tier” ownership shares of Big3 Professional Basketball’s Killer 3s. Each NFT cost approximately $25,000, meaning that the entire purchase was $625,000. Founded in 2017 by hip-hop mogul Ice Cube and entertainment executive Jeff Kwatinetz, Big3 is a 3-on-3 basketball league consisting of twelve teams throughout the league. Perks of owning fire-tier” ownership shares included lifetime meet and greets with the Killer 3 coaches and players, access to practices and after-parties, autographed memorabilia, and phone calls with Ice Cube and Kwatinetz. The NFT ownership tiers also grant right to license and intellectual property rights in connection with the team’s name, product, logos, and other game-day promotional campaigns.
WHAT IS THE DEGODS TIMELINE?
March 2021:
DeGods Twitter account was established, thus officiating the launch of the project. DeGods was described as an experiment in deflationary NFTs using game theory that would take the Solana blockchain by storm. DeGods were formed from the dust of stars from the molten core of Mount Solympus.
September 2021:
The Paper Hand Bitch Tax concept was revealed by DeGods’ Twitter and Discord accounts. Due to the PHBT concept, if a holder sells a DeGod NFT for below the mint, or current price floor, or a third-party marketplace that isn’t the official DeGod marketplace, you will have to pay a 33.33% tax. The tax money will be used to buy the lowest priced DeGods, and the bought-back Gods will be burned, raising the price floor.
After much Twitter hype and anticipation, DeGods held its first presale in September. The first DeGod was burned at the end of the month, and the first preview of the DeGods custom marketplace also took place towards the end of September.
October 2021:
DeGods gained further exposure when Anatoly Yakovenko, CEO of Solana Labs, made his purchased DeGod his Twitter profile picture for over a week. DeGods’ released its roadmap which included its DeGods marketplace, rarity tools, Twitter integration, launchpad, and DAO. DeGods’ public mint took place this month, as did the launch of its live marketplace. The Paperhand Bitch tax was fully deployed, as well as community-owned content platform De.xyz.
January 2022:
DeGods kicked off 2022 with the announcement of the DUST protocol, the DUST tokenomics, and the first DeGods DAO proposal. The DeadGods concept was launched in January, as was DeGods staking for DUST.
Looking for more NFT Reviews? Check out our guide on Bored Ape Yacht Club, The Wanderers, and more.
Subscribe to the #1 NFT Newsletter, NFT Lately. NFT Lately is a twice a week email newsletter that covers the latest in NFT drops, reviews, releases, and more.
