Knights of Degen Acquires Players Only NFT After Allegations

Knights of Degen announced an agreement with Michael Carter-Williams to benefit Players Only holders and bring in new members to the KOD Kingdom ecosystem.

The move comes after on-chain sleuth @zachxbt described Players Only as a "$1.4 million rug" in a thread last week. Zachxbt said the project failed to deliver on promised giveaways and benefits for holders – which Carter-Williams apologized for in a June 10 tweet. Zachxbt later tweeted confirmation that Terrence Ross gave back 31.46 ETH and Marcus Zegarowski gave back 21 ETH to the project.

A snapshot was taken for Players Only NFT holders on June 14 at 4:05 p.m. ET. Players Only NFTs will be eligible to claim the upcoming $DGEN  token of the KOD Kingdom ecosystem released at a later date. 

Players Only NFT holders will also have the opportunity to buy a Knights of Degen NFT claim pass for 0.088 ETH (the original mint price of the collection). The passes will be subsidized by the Players Only treasury and offer a low-cost entry into Knights of Degen, as the collection has a floor price of 0.3 ETH at the time of this writing. The claim pass offer is exclusive to Players Only NFT holders who do not yet own a Knights of Degen NFT. Holders of both Players Only and Knights of Degen NFTs at the time of the snapshot will only receive the $DGEN token and not a claim pass.

The claim passes represent randomly assigned Knights of Degen from the existing collection of 8,888 NFTs, and no additional supply will be added. The supply will be provided by the Players Only treasury and some gracious members of the Knights of Degen community for new community members to be welcome in from Players Only. The Players Only Vault has purchased 50 Knights of Degen so far.

A maximum of 1 claim pass will be available per wallet from the Players Only snapshot, and further details on how to purchase and claim the NFTs will be shared soon.

Full details can be found in the Knights medium article.