In recent days, DeGods, an NFT project on Solana, has risen fiercely. Judging from the analysis data on Magic Eden, DeGods has shown an upward trend since August 22, with an increase of 359% in a week. It ranked fourth in yesterday's Opensea 24-hour leaderboard and is the first Solana to enter the top five For NFT projects, the current floor price is 400 SOL.

Since May of this year, the encryption market has continued to slump, but the Solana NFT market has ushered in explosive growth. Among them, a project called Okay Bears was publicly sold at a price of 1.5 SOL. Since then, the price has been soaring, and its floor price once exceeded 260 SOL. In just a few days, a huge wealth effect was created, which not only made the project explode instantly, but also made the voice of Solana Summer louder and louder. However, with the continuous occurrence of thunderstorms and liquidation events in the market, coupled with the lack of influx of new funds, it has caused panic among crypto market participants and a sharp drop in the crypto market. Against the background of the overall downturn in the market, Solana NFT's transaction volume and floor price are severely sluggish, and it has gradually withdrawn from the Opensea rankings. At this time, the appearance of DeGods seems to have revived everyone's enthusiasm for Solana NFT.

DeGods is an NFT project launched last year, with an initial mint price of 3 SOL. The project proposed the "PaperHand Bitch Tax" (PHBT) mechanism at the beginning of its establishment.

The principle of the paper hand tax is that if DeGods sells at a price lower than the floor price (3 SOL), you need to pay a 33.3% paper hand tax, and the tax will be automatically transferred to the DeGods treasury for purchase at the floor price The DeGods of the pending order will be destroyed, thus increasing the scarcity by continuous deflation. This is also to prevent holders from causing FUD by placing orders at low prices.

The proposal of this mechanism has aroused heated discussions in the community, and everyone has mixed opinions on the mechanism. In fact, this mechanism caused DeGods to jump from the floor price of 3 SOL to 15 SOL when it was first released. However, after the slowdown in trading volume, DeGods' floor price began to decline. Subsequently, due to various reasons, the DeGods community voted to cancel the paper hand tax mechanism.

Although the paper hand tax was abolished, DeGods continued to punish paper hands. DeGods introduces the $DUST ecosystem and DeGods staking. You can get DUST tokens by burning NFTs and staking DeGods. Through this mechanism people are incentivized to hold or burn their DeGods, which will greatly increase the intrinsic value of DeGods over time. After the mechanism was launched, 50% of the total supply of DeGods was pledged within 24 hours, which also caused the number of pending orders of DeGods to decline, and the floor price showed a parabolic growth. In addition, DUST tokens have a wide range of application scenarios. You can buy NFT, upgrade DeGods, and then participate in P2E games.

Soon, at the stage when Solana NFT exploded, DeGods also ushered in its bright moment and became a blue-chip project of Solana NFT. However, DeGods was also affected by the continued sluggishness of the market, the floor price fell from 398 SOL to 195 SOL, and did not fluctuate much in the following two months.

However, just recently, DeGods has ushered in a turning point. DeGods' second series project, y00ts, has become active on Twitter. y00ts, formerly known as Duppies, was proposed by the DeGods team as early as May this year. However, in early July, the Duppies program was canceled and the team reworked the design, changing it to y00ts.

y00ts proposed the ⓨ mechanism, a way similar to copyright ⓒ. This applies to the features of y00ts. Authors can submit customized versions of original y00ts features on the y00t store. The y00t store is a marketplace for customizing y00ts features. Once a submitted feature is approved, the submitting individual will own ⓨ of that feature. It also means that no one else can replicate the ⓨ of this character, style, theme, and brand. At the same time, you can also set the price, supply, etc. of the trait in the y00ts store to collect a 5% copyright fee for each sale of the trait.

Community members can also create and register sub-communities where they can charge SOL as an entry fee and receive a percentage of royalties from all sales in their sub-communities.

Interestingly, you can also receive one Ⓨ token every 30 days (up to 6 Ⓨ tokens in total) by staking y00ts, which can be used to purchase customized features on y00ts st0re.

Since the explosion of Solana NFT, many people have some concerns about some NFTs on Solana, because most Solana NFT projects lack innovation, and many of them are imitations on the ETH chain. At this point, good results are obtained, but when the overall NFT market declines, the shortcomings behind it will be exposed.

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