Blue Chip NFTs 101 – A Transient Look At Solana’s ‘DeGods’

by Cryptospacey

In our newest installment of ‘Blue Chip NFTs 101,’ we’re taking a dive into non-Ethereum chain NFTs; we’ll be working our approach by way of high 10 blockchains and their greatest NFT tasks, all whereas nonetheless highlighting main noteworthy tasks which are on Ethereum.

In our first piece within the sequence, we lined the exceptional rise of ‘Moonbirds,’ the newest NFT challenge that has seemingly skyrocketed to blue chip standing virtually in a single day. Let’s check out

The Fundamentals: Solana’s NFT Standing

Solana has had it’s fair proportion of critics lately – the chain has had durations of intermittent downtime, and it’s usually criticized as carrying extra centralized qualities relative to comparable and competing chains. The target of this write-up isn’t to judge the character of the chain, however slightly to hone in on one of many greatest NFT tasks within the ecosystem. We’ll depart a deep dive of Solana’s blockchain construction for an additional day, as a result of one factor leaves little questioning – Solana was an early mover in being an Ethereum competitor that supplied an NFT ecosystem with inexpensive fuel costs.

At present standing, the new trending matter in Solana NFTs is undoubtedly Okay Bears – a more recent PFP NFT challenge that has gained traction because the Solana ecosystem has grown.

DeGods: Present Standing

DeGods have far and away the very best ground worth within the Solana NFT ecosystem, persistently commanding north of 200 SOL whereas routinely sustaining a high 5 place in each day quantity. The ten,000 mint challenge has a market cap that encompasses practically 20% of the full Solana NFT market cap, in response to knowledge from Solana NFT aggregator Hyperspace.

DeGods has a bit extra of a ‘legacy’ standing within the Solana ecosystem, however as with every early mover, it may be troublesome to take care of the standing as challengers emerge. The most important challenger in latest weeks has undoubtedly been Okay Bears, which have been the face of Solana on communities like NFT Twitter, and has blown away Solana quantity over the previous week with over $40M value of Okay Bears being purchased and offered. DeGods definitely have the next ceiling, however having lower than 10% of that quantity over the identical timeframe means that Okay Bears may very well be gunning for the highest spot because the Solana panorama continues to develop.

Solana (SOL) would not have the legacy standing in NFTs that Ethereum has, however the blockchain has seemingly secured the #2 spot with regards to NFT communities. | Supply: SOL-USD on TradingView.com

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Current Buzz: A Main Acquisition

What’s DeGods doing to cement it’s positioning as a Solana ‘blue chip’? It’s simpler mentioned than accomplished, however the DeGods group not too long ago made a splash and made some headlines by shelling out roughly $625,000 for a group acquisition in Ice Dice’s ‘BIG3’ basketball league. The league brings 3×3 half-court basketball with a twist, and has persistently hosted ex-NBA athletes and ex-college stars (a few of which have even returned to the NBA ground after showing for the BIG3, a la Joe Johnson).

DeGods bought 25 NFTs of the BIG3’s ‘Killer 3s’ group at $25,000 a bit, in a choice made by the NFT group’s DAO late final month. Virtually equally impactful may very well be the strikes that comply with swimsuit. Introduced over the weekend was an analogous transfer from music mogul (and well-known crypto fan) Snoop Dogg, who teamed up with PayPal co-founder Ken Howery to buy 25 NFTs of their very own, this group for the league group ‘Bivouac.’ This sponsorship mannequin from the BIG3 is very distinctive, and the league has opened up it’s personal Possession Mannequin Twitter web page, in addition to a devoted whitepaper outlining how the sponsorship mannequin operates. Crypto and blockchain know-how is operating rampant by way of the BIG3 and DeGods can safely take into account themselves ‘early.’

There’s a lot extra on the horizon for DeGods as nicely. In a latest ‘State of the Union‘ handle, the group addressed a local token (and a few of the feedback of skepticism round it), occasions, and a devoted clip across the logic behind the DAO buying the BIG3 group.

Little is definite within the NFT panorama, however DeGods is seemingly well-positioned to be a Solana staple with it’s present engaged group and energetic, aggressive method.

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Featured picture from degods.com, Charts from TradingView.com
 The author of this content material is just not related or affiliated with any of the events talked about on this article. This isn't monetary recommendation.
 
 *The author of this content material doesn't personal any of the NFTs talked about on this article, nor do they maintain SOL or another Solana-based NFTs at time of publishing. This content material is produced solely for academic and informational functions.



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