DeGods Sales Leap as Artwork Evolution Is Unveiled

DeGods “Season III” will add paintings to present every holder 4 inventive belongings related to their one DeGods token.

In 24 hours, buying and selling quantity elevated almost 200% to 1,359 ETH, or about $2.5 million.

It’s unsure if general non-fungible token (NFT) buying and selling quantity will come again after falling 50% since January, however for well-liked profile-picture (PFP) challenge DeGods, it positive appears prefer it.

In response to information from market OpenSea, up to now 24 hours DeGods’ buying and selling quantity has elevated 197% to 1,359 ETH – about $2.5 million – as merchants collectively bought 158 DeGods. It is also taken prime spot on the NFT platform’s leaderboard of collections.

Whereas its ground value has decreased from 8.8 ETH to 7.4 ETH throughout this gross sales spree, a $13,600 NFT continues to be a hefty spend within the bear market and might be a constructive signal for NFT gross sales tendencies past DeGods.

Early Thursday morning, DeGods revealed its plans for its “Season III” of the gathering, which can add 20,000 new artworks to the gathering. Not solely will DeGods be including feminine PFPs to the challenge which can be swappable for male PFPs, however they will even be eradicating traits from NFTs that holders “don’t like” and including new ones to interchange them.

“We took into consideration rarity, provenance and innovation to guarantee that every new trait can be a second of enjoyment that will match into their total design system,” DeGods mentioned in a tweet.

DeGods specified that this method means there will likely be “no dilution” for the gathering. As a substitute of including new tokens, every particular person DeGod NFT will now have 4 items of generative artwork related to it. Dilution is a standard concern amongst NFT initiatives that add further tokens with related paintings to a set, as seen with the chaos of the Azuki “Elementals” mint in June which the challenge has but to get better from.

DeGods tweeted that it might price 333 DUST for a holder to replace their token. DUST is the gathering’s native utility token, which at present trades at $2.26 in accordance with analytics platform CoinGecko. The gathering specified that 100% of the DUST will likely be put in direction of its “Factors Parlor” prize pool for DeGods Season III holders to play video games and earn prizes.

DeGods added that if holders can’t afford to spend the almost $750 to replace their token, the worth to take action will progressively lower over time to ask extra holders to morph their tokens.

DeGods began as a Solana-based NFT challenge, however following the collapse of FTX and its harsh affect on the community’s token, the challenge migrated to main NFT community Ethereum. It additionally moved its Solana-based sister assortment, Y00ts, to sidechain Polygon, accepting a $3 million grant from Polygon Labs to take action. Nevertheless, final evening, Y00ts all of the sudden introduced it might migrate to Ethereum in an effort to unite the gathering with DeGods, returning the grant.