Created way back in April 2021, the now-legendary DeGods NFT collection is one of the top collections on Solana. DeGods made waves so high that it stole market shares from elite Ethereum blue-chip NFTs. Let’s take a look at the revolutionary DeGods NFTs.
What Is the DeGods NFT Collection?
The NFT collection has 10,000 PFP NFTs. DeGods is a collection of mythological deities with a modern punk twist. The style of these digital artworks is unconventional but contemporary, entirely keeping up and pushing the boundaries of the NFT scene.
Divided into five categories, the NFT collection has the following traits and features:
- Common
- Uncommon
- Rare
- Super rare
- Mystic
Generally speaking, the rarer your DeGods NFT is, the higher the price.
Though it now has the support and passion of investors, DeGods’ beginnings were marked by incidents that almost brought the project to an end in its early stages.
The DeGods NFT collection was first made available to a select group of potential investors who had to successfully complete and share an online challenge to be added to the list. But once an army of bots joined the process, the assets were immediately “sold out.” This sparked enough mistrust in the project that its price fell, putting the entire venture in jeopardy of being sold down the river.
However, DeGods’ team remained true to its mission and implemented several critical upgrades to save the project. In the end, the project was undoubtedly a huge success. Its trading activity often rocked the entire Solana blockchain.
DeGods’ success is based on simple, yet efficient, standards:
- A top-notch and diligent workforce backing the project.
- Artwork with a meticulously crafted design that delivers a unique identity experience.
- A plotline that lures and appeals to a sizable percentage of the audience.
- The DeGods NFT and its auxiliary token, DUST (Dust protocol), offer holders innovative utility and benefits.
Paper Hands B*tch Tax
The DeGods introduced the “Paper Hands B*tch Tax” to dissuade investors from panic selling and reducing the value of the NFTs. The tax introduced in September 2021 was revolutionary at the time.
It was, in essence, a 33.3% royalty fee imposed on the NFT holders who sell on secondary markets at a price lower than what they bought them for or below the floor price.
This fee gets deposited in the DeGods’ burn wallet and is used to buy the lowest-priced DeGods. These DeGods are burned, which increases the rarity of the collection. Moreover, the floor price rises as well.
The approach, although revolutionary, was not sustainable in the long run. The team acknowledged it and later set the royalties to zero.
Reminder: Starting next week the Paper Hands Bitch Tax will be applied to all sales under 4.98 SOL.
And the PHBT threshold will move up by 0.33 SOL every week.
Anyway, carry on.
— DeGods III (@DeGodsNFT) November 19, 2021
Where to Buy a DeGods NFT
DeGods NFTs are available through OpenSea, Magic Eden, Solanart, and Alpha Art. Magic Eden has the most volume. So buying from Magic Eden would be ideal. You can also snipe other marketplaces to see if any rare NFTs are listed.
You will have full access to the DeGods Discord community after acquiring DeGods NFTs through one of these approved marketplaces. Always DYOR before buying anything.
How to Buy a DeGods NFT
The early investors have so far seen some decent gains. Back in October 2021, this project had a mint price of 3 SOL, and it is now trading at 363 SOL with a total volume of 2.3 million SOL. Given that the NFT was minted at a price of 3 SOL, the cost of this collection has increased by more than 12,100%.
The most expensive DeGods sale was DeGod #270. It was sold on September 1, 2022, for 7033.3 SOL, or around $220,000. It is 1,937% more than the current floor price and 234,443% more than the mint price. The floor price of the collection peaked in September at around 615 SOL.
The DeGods creator, Frank, has unveiled y00ts, a brand-new Solana NFT project. This new NFT collection was released at the beginning of September 2022, and its introduction was a crucial factor in the rise in the floor price of the DeGods NFTs. DeGods’ momentum has undoubtedly increased significantly to the point that the project is now competing with Ethereum NFT heavyweights on pricing.
Conclusion
Since its introduction, DeGods has been at the forefront of the dramatic development in the NFT space. DeGods is a community-centered initiative whose present objective is to expand its ecosystem through utility. This collection can be viewed as Solana NFTs’ face, the same as how CryptoPunks are in Ethereum.
And as one of the innovative and lucrative options available in the NFT market today, DeGods is one to keep an eye on. Stay tuned for our upcoming Part 2 article on DeGods.
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