Degods NFT

While Ethereum remains home to some of the largest NFT collections to date, Solana has been beefing up its game as well. Top names such as DeGods are making a name for themselves. They are now one of the most successful blue-chip NFT collections on Solana. 

Launched on 8 Oct 2021 for a price of 3 SOL, DeGods has risen tremendously to reach a current floor price of 285 SOL on the marketplace, Magic Eden. What made this collection turn into one of the best-selling NFT collections of all time?

A collection of 10,000 unique DeGods lives on the Solana blockchain. The collection has a strong community around it with more than 100K followers on their twitter.

As a holder of DeGods, you gain access to a vibrant community that is always at the forefront of driving innovation.

What are the benefits of holding a DeGods?
  • You can stake your DeGods to earn $DUST. $DUST, being the native token of the collection, powers the ecosystem. $DUST allows you to participate in auctions, raffles, exclusive whitelist spots, upgrades and more.
  • Earning $DUST, you can convert your DeGods into DeadGods which earn you more $DUST when you stake. A DeadGods will give you a daily stream of 15 $DUST. At the current price of $DUST, that is a daily passive income of $17.55!
  • DeGods has also snapped up full ownership in Big3’s Killer 3s, a basketball team under Big3. Holders are given full intellectual property and licensing rights for team names, logos and merchandise. A partnership like this definitely helps to drive DeGods name to the masses especially the sports community.
  • DeGods holders can access, a community-owned content platform. Holders can publish their own content on the site and own all their contributions.
Duppies, powered by $DUST

Duppies, another NFT project by DeGods team, is a 100% whitelist mint. The project should launch in end July/early August with a mint price of 375 $DUST. The collection has already amassed whitelist partnerships with several popular projects such as GhostFace NFT, Monkey Kingdom, Bohemia DAO and more.

$DUST staking rewards

In total, there will be 3 halvings for $DUST staking rewards. The first halving has already occured on 4 June 2022. Staking DeGods now earns 5 $DUST daily while staking DeadGods earns 15 $DUST daily. The next halving is expected to occur sometime in August. With a total supply of 33,300,000 $DUST and less than 50% of $DUST to go, the halving mechanism might reduce incentives to stake DeGods. It’s a possible headwind for the team looking to reduce listings.

Concluding Thoughts

As one of the most successful blue chips on the Solana ecosystem, DeGods prides itself for having a strong spirit of innovation. A downside though is the high floor price that acts as a strong barrier to entry. Duppies, a second NFT collection, will allow more people to get connected with one of the best NFT projects on Solana. However, given the bear market and the delay of the Duppies launch, I would prefer to err on the side of caution and wait to see the performance post-mint before diving in. Moving forward, having greater utility for $DUST and DeGods will definitely drive greater success for the collection.

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