To recap this week's events for y00ts, DUST Labs from DeGods captured an impressive $7 million during their September 5 mint session.
Even though the DeGods team may flirt with chaos, they are far from clueless. It’s easy to think they’re just riding the wave after breezing through the hack After the highly anticipated rollout of their Duppies NFT project back in June, the team decided to rebrand it to y00ts. This was a fresh drop on Solana featuring 15,000 unique yeti avatars.
After several delays that shifted the originally planned mint date from September 2 to September 4, then eventually to September 5, the y00ts The mint has finally launched, utilizing only the DeGods ecosystem's exclusive token, DUST, priced at 375. In terms of US dollars, that comes to approximately $743, showing a slight depreciation compared to last month.
"It's typical for tokens acquired to participate in a mint to experience a drop in value post-release,\" as noted by industry experts. NFT DUST can be acquired through various channels, either by trading at exchanges or by staking DeGods NFTs. On September 1, a DeadGod #270 fetched a staggering 7033.3 SOL, equating to around $221,177.31. CoinDesk pointed out.
This certainly adds a dash of competitive edge, considering DeGods is leading the charge as the highest-selling NFT collection on Solana. Interestingly, DUST Labs, which one of the DeGods founders referred to as a spinoff rather than just a parent entity, was able to rake in $7 million during the y00ts mint event. Despite skepticism surrounding the NFT scene, y00ts has effortlessly stirred up significant excitement. Their approach to intellectual property rights is distinctive—setting themselves apart from heavyweight contenders like CryptoPunks.
Ever lucrative Unlike traditional methods where ownership is exclusive (like BAYC/Yuga Labs), the ‘ⓨpaper’ states, \"Our NFTs can exist within the public domain or be governed by their respective collections with a registry that tracks who can utilize the NFT's IP. This enables fast approvals and rejections for usage requests in Web3.\"
The governing force is the collection itself rather than individual creators or owners. The y00ts initiative serves as a testing ground for this innovative concept, which includes features like a dedicated store for artists to contribute new traits. NFT owners can apply a new customizable trait each month. white paper Their clever launch process undoubtedly fueled interest and engagement during a highly competitive landscape. The y00ts team employed a public whitelist dubbed the ‘y00tlist’ or ‘y00t scholarship.’ Those looking to join had to amass enough DUST to mint an NFT, coupled with some degree of recognition. Well-known personalities such as Howie Mandel and Gary Vaynerchuk were seen showing support for the y00ts, previously known as Duppies, on Twitter. Many more enthusiasts eagerly sought their chance to participate.
“Right now, we’re usually offered IP rights As always, the DeGods have maneuvered through early summer turbulence and made a comeback—though they faced some last-minute drama the night before.
On September 4, the pivotal minting day, a tweet from the y00ts team read, \"We’ve hit a last-minute blocker bug. Given the circumstances, we are not ready to launch the mint. We will likely push it back by 24 hours. We’ll keep you in the loop as things develop.\"
So, I ended up lugging my laptop to the gym for no reason. difficult crypto winter Initial reactions ranged from anger and doubt to excitement as many jumped at the chance to submit their y00tlist applications. The emotional narratives shared across Twitter are truly touching—pack some tissues! We aren’t joking. Many faced setbacks, but others managed to achieve success. It’s heartwarming to witness!
Reports indicate that the secondary market for y00ts has surpassed a remarkable $6 million in sales. As if simply achieving this milestone wasn’t enough, further news broke that DUST Labs also raised a whopping $7 million during the y00ts mint through investment firms like FTX Ventures, Solana Ventures, Magic Eden, and Metaplex. An AMA session is planned on Twitter for September 8 to delve deeper into these developments.
With the minting delay and fewer than 100 applications remaining...
There’s a wealth of chances just ahead.
Since then, Decrypt Meanwhile, the momentum of y00ts is in full swing. Technically, those who minted this week didn’t receive their actual y00ts right away—they got t00bs instead. Starting from September 9 and for an undetermined period, users will have the opportunity to
In just 24 hours, Solana's top NFT collection, DeGods, raised over a million dollars. burn those DressX has achieved a milestone by being the first digital brand to launch a collection on Roblox.
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