A Complete Guide to DeGods in 2024

NFT communities are identified for being devoted, engaged and passionate – and one neighborhood embodies these traits above all others: DeGods.

Since minting on Solana in 2021, because of its clear management, culture-focused course and community-first mantra, it’s shortly turn out to be one of the vital widely-known and well-liked NFT collections amongst blockchain fanatics – however how did it get to the place it’s immediately?

Right here’s our full 2024 information to DeGods.

What’s DeGods?

DeGods is a group of 10,000 distinctive avatar NFTs, initially minted on Solana in October 2021. Every DeGod has a mixture of traits; from backgrounds and hairstyles to clothes, eyewear and different equipment.

The gathering quickly gained reputation because of its distinctive utility. Holders have been in a position to mine the $DUST token, with future initiatives together with entry to NFT monitoring app DYOR, unique merch and extra.

DeGods is a product of DeLabs, an organization with three major figures; Frank DeGods (Rohun Vora), Kevin DeGods (Kevin Henrikson), and Finn DeGods – who introduced his departure in August 2023. DeLabs additionally created the y00ts NFT assortment in November 2022, and continues to handle each collections to today.

As of immediately, DeGods exist on all three main NFT blockchains: Solana, Ethereum and Bitcoin, and holders proceed to learn from an increasing checklist of options and utility, together with conversions into DeadGods NFTs (utilizing $DUST), entry to DeDAO, and – most just lately – interactions with the $DEGOD token.

The historical past of DeGods

DeGods have been minted on October 8, 2021, priced at 3 SOL. A mixture of demand and technical points noticed all 10,000 NFTs promote out in 7 seconds.

To mitigate an anticipated decline of ground costs, DeGods instituted the “Paper Fingers Bitch Tax”, a 33.3% tax on anybody who listed their DeGods beneath the ground value. Any funds collected from this tax have been used to purchase and burn DeGods NFTs, lowering the general provide.

By the point the Paper Fingers Bitch Tax was halted on January 1, 2022, the full provide had been diminished to 9,465 – however that was simply the beginning of the progressive strikes made by the gathering.

In January 2022, DeGods launched the $DUST token – and with it, the DeadGods. Holders might stake their DeGods to earn $DUST, which might then be used to improve their DeGods into DeadGods at the price of 1,000 $DUST. This revitalized curiosity, and addressed aesthetic points with DeGods.

April 2022 noticed DeDAO determine to buy Big3 Basketball crew Killer 3’s for $625,000 USD, giving DeGods its first mainstream publicity, and giving holders choices to learn from the IP and licensing rights of the crew – in addition to alternatives to buy possession stakes within the type of NFTs.

December 2022 noticed DeGods announce plans to maneuver from Solana to Ethereum, accomplished in March 2023 – however not earlier than the beforehand burned 535 DeGods made their return as Bitcoin Ordinals in February 2023.

The chain-hopping wouldn’t cease there, as in Might 2024, DeGods made the shock transfer emigrate each DeGods and y00ts (which had spent the final 12 months on Polygon) back to Solana, with a bridge now supporting the existence of DeGods on Solana, Bitcoin and Ethereum.

September 2024 noticed DeGods launch the $DEGOD token – however as with all issues DeGods, they took a singular strategy. Holders are in a position to:

• Swap a DeGod NFT for 550,000 $DEGOD tokens
• Burn a y00ts NFT for 120,000 $DEGOD tokens (no matter rarity), or
• Burn 1 $DUST token for 36 $DEGOD tokens

Reactions have been blended, with many nervous in regards to the influence of tying DeGods on to a token might have on ground costs. Within the short-term, DeGods have declined from 2.00 ETH on September 16 to 0.94 ETH on the time of writing – however the long-term results are but to be identified.

What’s forward for DeGods?

DeGods all the time stride ahead confidently – certainly the crew have acknowledged that “DeGod” stands for “do every little thing nice or die” – and with that mantra on the coronary heart of what they do, we’re certain they’ll proceed to make waves.

Though the debut of $DEGOD has been a blended bag, we’re certain the DeGods crew has deeper utility in thoughts for the token – although when that will probably be revealed is anybody’s guess.

They’ve been unafraid to push boundaries, problem conventions or observe the trail well-trodden – and it’s that degree of confidence that’s received them so many supporters to this point.

Mud Labs, a blockchain expertise side-project to DeGods, has started to develop software program options for different NFT tasks – off the again of their chain-hopping experience – and this might result in additional improvements for DeGods in future.

The DeDAO will play a significant half in what DeGods will turn out to be. The fervour from its members is felt all over the place you flip – from X to Discord and extra – guaranteeing that the pursuits of the DeGods crew and their holders are all the time aligned.

With DeGods, anticipate the sudden.