Solana OG project DeGods has breached a new all-time high of 420 SOL ($15K) today, essentially surpassing multiple Ethereum bluechip NFT collections including BAYC‘s Bored Ape Kennel Club (BAKC), Azuki, VeeFriends, and even Nike and RTFKT‘s Clone X.
The DeGods community is currently melting faces across Crypto Twitter. As it stands, it currently has the fifth-highest floor price among NFTs across Ethereum and Solana, which both account for more than 95% of NFT revenue in all chains. It is exceeded by Mutant Ape YC, which has a floor of 12 ETH ($20K).
Admit One currently stands at 7.7 ETH ($12.8K), which is more than $2k below DeGods. Even blue-chip collections like Azuki ($11.4K), Veefriends ($9.8K), and Doodles ($11.6K) are now several thousand dollars below the Solana collection.
While DeGods has been in the top 10 for a while, it wasn’t until it captured new hype around its new drop that it started to pump higher than it’s ever been despite the looming global recession and current NFT winter.
The primary catalyst for this rally is the forthcoming drop of its second collection, y00ts, which has garnered a lot of hype across the Solana ecosystem, as well Ethereum circles, to some degree. Crypto Twitter is currently overflowing with multiple content around y00ts, ranging from fanart to Twitter threads.
Essentially, all DeadGod (mutated DeGod NFTs) holders are eligible to be whitelisted for y00ts, which has caused a buying frenzy as the minting date announcement of the new collection draws near. Users could buy either a DeadGod, or a DeGod and some $DUST tokens so it can transcend into a DeadGod. These NFTs can be purchased on Magic Eden.
What struck most NFT enthusiasts about y00ts is the new utility it brings: Scholarship Programs, which enable new NFT projects to manage their whitelists in a way that prioritizes the most ‘valuable’ members of their community before minting. This could enable projects to filter out bots, pump and dumpers, and holders that bring less value to the project.
And to serve as proof of concept, the DeGods team aims to implement the Scholarship Program on y00ts first, which is called the y00tlist. If you want to participate, check out FrankDeGod’s community recommendations.
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