What is DeGods?

DeGods is a collection of 10,000 unique non-fungible tokens (NFTs) originally built on the Solana blockchain. Unlike the many NFT collections that launched on Ethereum, DeGods stood out as one of the prominent projects to emerge on Solana during the NFT boom of 2021. This collection falls under the category of profile picture (PFP) NFTs, featuring distinct combinations of attributes generated through an algorithm, making each NFT one-of-a-kind.

 

These NFTs are more than just digital collectibles. By holding a DeGod, users can generate DUST tokens through staking. Additionally, ownership grants access to the DeDAO, a decentralized autonomous organization (DAO) that governs the broader DeGods ecosystem. Holders are also given the option to transform their DeGod NFT into a second version, known as a DeadGod.

 

The DeGods collection has continued to thrive by offering additional benefits beyond the typical collectible aspect of NFTs. The staking process, governance opportunities, and access to exclusive rewards make DeGods a multifaceted NFT project that has captured the attention of collectors and crypto enthusiasts alike.

 

What are DeadGods?

DeadGods represent the second iteration of DeGods NFTs. Initially, some collectors criticized the original DeGods collection due to what was considered “unattractive” artwork. To address this, the developers revisited the art, allowing holders of DeGods NFTs to transcend their digital assets into the improved version: DeadGods.

 

Although DeadGods introduced new and more appealing artwork, they are not considered separate NFTs. Each token carries both the original DeGod art and the updated DeadGod art, giving holders the ability to switch between the two versions at their discretion. The process of transcending a DeGod into a DeadGod is fueled by DUST tokens, which can be earned through staking or purchased on the open market.

 

This approach allowed the project to refresh its visual identity while maintaining continuity with the original collection. DeadGods have become a symbol of the DeGods community’s adaptability and the project’s commitment to evolving based on feedback.

 

What is the DeDAO?

At the heart of the DeGods ecosystem is the DeDAO, a decentralized autonomous organization that allows the community to govern the project. The DeDAO consists of three main groups: DAO Leads (the project’s founders), the Alpha Team (comprised of market experts), and the Divine Council (voted-in contributing members). Together, these groups guide decisions regarding the project’s direction and treasury management.

 

One of the most notable achievements of the DeDAO was its acquisition of the Killer 3s, a 3-on-3 professional basketball team in the BIG3 league. In April 2022, the DeDAO purchased 25 NFTs issued by Killer 3s for a total of $625,000, securing ownership of the team. This high-profile move generated significant buzz around DeGods, especially since BIG3’s co-founder, Ice Cube, is a DeGods NFT holder himself.

 

The DAO's funding has traditionally come from the DeGods marketplace royalty fee, which was set at 9.99%. However, this fee was eliminated in October 2022, marking a shift in how the DAO operates financially. Despite the change in funding strategy, the DeDAO remains a driving force behind the project, playing a crucial role in shaping its future.

 

Staking DeGods

In April 2023, DeGods introduced non-custodial staking for both DeGods and DeadGods. This allows holders to stake their NFTs and earn rewards without losing ownership or control over their assets. Once staked, the NFTs remain in the holders’ wallets, ensuring that they maintain full custody while participating in the ecosystem.

 

Staking DeGods is a straightforward process. Holders transfer their NFTs to the staking platform, where they begin to accumulate DePoints, a reward mechanism tied to the NFT’s staking duration. For every minute the NFT is staked, one DePoint is earned. These points can be redeemed for a range of rewards, including airdrops, physical goods, and opportunities to participate in brand partnerships.

 

In addition to DePoints, staking also allows holders to continue earning DUST tokens daily. This system incentivizes long-term staking, as the longer an NFT is locked up, the more rewards the holder can accumulate. Beyond the financial incentives, staking grants access to the DeDAO and voting rights on community proposals, further integrating users into the decision-making process.

 

Future for DeGods

DeGods has established itself as a leading NFT collection, and its future looks promising. In May 2023, the team released an updated roadmap with several exciting plans, including the launch of new community initiatives and experiences. Some of the teased ideas include a Squid Game-inspired park, a Lord of the Rings-themed mountain, an Egyptian sphinx, and a dedicated jobs board for the community.

 

The team behind DeGods has committed to releasing updates, partnerships, and events on a weekly basis. This steady stream of new developments has helped maintain the project's momentum, keeping both collectors and potential investors engaged.

 

Moreover, DeGods’ decision to move from Solana to Ethereum and become a pioneer in Bitcoin NFTs has broadened its appeal. By tapping into the larger Ethereum and Bitcoin ecosystems, DeGods is positioning itself for greater growth and visibility in the NFT space.

 

As the NFT market evolves, DeGods is poised to continue innovating and offering value to its community. With a strong foundation, dynamic rewards system, and ambitious future plans, DeGods is well-equipped to remain a top-tier NFT collection for years to come.