Latest Steedz of Degen News
Knights of Degen staking went live yesterday evening, per an announcement from the project.
- All Knight holders have been airdropped a Degen Deed.
- Use your Degen Deed to stake your Knights & Steedz in Phase 1 of Pre-Season.
- After 60 consecutive days of staking, Deeds will become “fully baked”.
- “Fully Baked” = eligible for a 1:1 exchange of a Degen Quarter during the redemption period taking place at the end of the Pre-Season.
- The Degen Quarters serve three (3) primary purposes:
- 1) Staking all of your KOD NFTs after the initial Degen Quarters redemption period. Without a Degen Quarters, you cannot stake the NFTs you acquire from the Degen Kingdom.
- 2) Earn rewards from staking like future NFTs and gameplay multipliers.
- 3) A 3D customizable space where you can display your NFTs, host others, and recharge from competitions in the Degen Arena.
❗ Why It Matters
Knights of Degen holders are now able to stake their Knights and Steedz (with the Degen Deed that was airdropped to all Knights) for rewards that impact their gameplay. Staking allows Knights to accumulate XP to move up the leaderboard, earn scarce NFTs, and earn $DGEN.
🎬 Take Action
- Receive Degen Deed: Degen Deeds (OS collection here) were airdropped to every Knight via Polygon (check your hidden folder if you don't see it)
- Access the Staking 🥩 site here: app.knightsofdegen.io/stake
- Login to your KoD account or sign up for an account (if you signed up for a Degen Bracket, you already have an account)
- Connect wallet containing Knights of Degen assets
- Select the Knight(s) and Steedz you would like to stake to your Deed(s)
🎤 Community Quotes
Love the art concept here of a futuristic Deed with some classic style mixed in (e.g. the wax stamp w/ the KOD swords). The level of thought & detail behind everything in KOD is top notch 🤌— MetaverseKing ⚔️ (@MetavrseKing) April 8, 2023
🧠 Learn More
Participate and earn, that's the web3 way, right?
The latest edition of participate and earn comes via Knights of Degen's, Degens Brackets, where March Madness meets web3.
After building an innovative bracket solution last year, KoD is back this year with an upgrade to its March Madness product which mints brackets to the Polygon blockchain. Find the announcement here.
What Is Degen Brackets?
Degen Brackets is a March Madness pool product that allows users to create brackets that are minted on the Polygon blockchain as NFTs. The Degen Bracket solution can be found inside the Knights of Degen mobile application, which is available in both the iOS and Google Play Stores.
With Degen Brackets, users can create or join March Madness pools with a web3 twist, winning prizes like NFTs, $DGEN (the KoD ERC-20 token), and more. Notably, the Knights of Degen app will automatically creative a native wallet for new users, not requiring the use of a seed or secret recovery phrase and lowering the barrier to entry by removing onboarding friction.
Each new wallet is automatically funded with 100 $DGEN, which can be used to enter in pools or other community events. Ready to fill out your bracket? Follow the steps below. Learn even more about the product here.
How to Join a Degen Brackets Pool
This year, Knights of Degen is offering one lucky player tickets to the Final Four in Phoenix, Arizona in 2024. Below we'll show you how to join.
1. Download the Knights of Degen Mobile App
Degen Brackets is hosted in the Knights of Degen mobile app. You can download it via the Apple App or Google Play Stores.
2. Sign Up, Create a Degen Wallet
Signing up for the Knights of Degen app doesn't involve any complicated recovery phrases or technical competence. Instead, users can simply sign up with email and password at which point they'll automatically have a Degen wallet created for them and seeded with 100 $DGEN to start. Once your wallet is created, you can find your wallet address inside the settings tab of your user profile. Here you'll find your $DGEN balance. At present time, $DGEN is unable to be transferred.
3. Join a Degen Tournament
After your wallet is funded and created, you can find Degen Tournaments by selecting the "Tournaments" icon at the bottom navigational bar. From here, select "Degen Tournaments" to find a list of available March Madness pools for entry.
For each available tournament, the entry fee, prize pool, and total entrants are listed.
After you've selected the tournament you wish to join, you can hit enter and join.
3a. Create a Tournament
Don't see anything that interests you, or want to challenge your own friends? By hitting the "plus" button, you can quickly create your own Degen Tournament. Follow the prompts to create a league that fits the conditions you wish to play for!
4. Fill Out Your Bracket
Upon joining a tournament you'll be able to choose to create a new bracket, or import an existing.
For those creating their first bracket, select "Fill Out New Bracket" and begin making your way through each region and round until a champion and tiebreaker score are selected.
In the event of a tie, the player with the total points closest to the actual total will be crowned champion.
Degen Brackets uses a simple multiple scoring system, which rewards points on advancement at the following intervals:
- Round of 64 winners = 1 point
- Round of 32 winners = 2 points
- Sweet Sixten winners = 4 points
- Elite Eight winners = 8 points
- Final Four winners = 16 points
- National Championship winner = 32 points
After your bracket is completed and submitted you'll be entered into each respective tournament. All $DGEN amounts used to enter brackets will be refunded at the conclusion of the tournament as part of Knights of Degen's "Stake2Play" functionality.
5. Follow Along
Once you're submitted, you can follow along and track your standings in the Knights of Degen app. Beyond the Final Four tickets to the winner, the prize pool will allocate 30,000 $DGEN to users as well.
Get More March Madness
Knights of Degen is not the only NFT community exploring March Madness.
Below find more March Madness opportunities depending on the NFT projects you hold:
Knights of Degen announced "Degen Brackets," an NFT/March Madness crossover in a teaser video shared with its Twitter following on Thursday night.
Degen Brackets are March Madness brackets that are minted on the Polygon blockchain. Additional details include:
- Users can join or create a "tournament" in which other brackets may be entered.
- Degen Brackets is mobile first, running on the Knights of Degen app (available on iOS and Android).
- Prizes like Knights of Degen NFTs, or $DGEN, the ERC-20 of KoD can be won.
- Users will automatically get a web3 wallet in app, without needing to remember a seed phrase.
❗Why It Matters
March Madness is a major cultural event for sports fans and the general public. Knights of Degen - the web3 community for sports and gambling fans - is utilizing its niche to drive attention to its brand via an innovative approach to March Madness participation, all while removing a major barrier to web3 adoption (initial onboarding).
🎬 Take Action
Prepare for Degen Brackets by downloading the K.o.D. mobile app in the iOS or Google Play Store.
Knights of Degen announced the beta launch of its community iOS app Friday evening.
❗ Why it Matters:
The app will serve as the home base for all things KOD, including contests and tournaments hosted through the app utilizing $DGEN, the project's native token.
👤 Degen Identity
- Users will first be prompted to create a "Degen Identity" upon logging in to the app.
- This will serve as a "Web3 personal identity that opens up a world of powerful on-chain incentives."
- KOD will host its first Bet2Earn competition this weekend ahead of the Wild Card Round of the NFL Playoffs.
- A total of 33,333 $DGEN will be up for grabs.
- To play, link your sportsbook account to the KOD app.
- Prizes will be awarded to the individuals with the highest ROI during the Wild Card Round.
🔜 What's Next?
- Users will be able to host their own competitions through the app in the future
- An Android app
- Degen Media integration
- Staking mechanisms
📱 Get the App
Knights of Degen released its updated whitepaper yesterday to "set out the next phase of the development of the Knights of Degen ecosystem," while touching on a number of initiatives fior 2023 and beyond. In this article, we'll review some of the main takeaways from this announcement by the web3 sports brand.
Launching the KoD Mobile App
The project's upcoming app will serve as a hub for KoD holders to interact with each other on iOs, Android, and web. A valid "Degen Identity" will be required in order to access the app as proof of membership in the ecosystem. Interested users can join the app's whitelist here by entering password "carpeDegen" and providing an email address.
A key feature of the app will be the "Degen Feed", which covers the betting and fantasy activity of users in the KoD app. Members will be able to link different third party sports betting or fantasy applications to the feed, and that activity will be viewable by other app users.
Knights of Degen will also host "Degen Tournaments" via its app. Eventually, the app will support fully customizable, user-hosted tournaments, where tournaments can be josted by anyone in the KoD ecosystem.
What is a Degen Identity?
A KoD Identity is comprised of a member's username, avatars, web3 wallet, NFT characters and authorized third party apps. It serves as an on-chain personal identifier that is used to connect the various apps and products across the KoD ecosystem. One motivation the project had for creating Degen Identities was to help onboard new collectors by assisting with key storage and asset custody.
The whitepaper also mentions an upcoming "Gen II Knights" collection, which will serve as "the virtual personification of your Degen Identity." Gen II Knights will be customizable NFTs that provide utility within the ecosystem.
Fantasy Initiatives with LeagueDAO
Knights of Degen acquired the fantasy sports platform LeagueDAO in the summer of 2022, and this acquisition will help KoD integrate fantasy applications into the KoD ecosystem. KoD's fantasy product will be called "Degen Fantasy", and it will allow users to join and host web3 fantasy sports leagues within the ecosystem. The whitepaper provides an example future usecase of a manager being able to sell or rent out players on their team in exchange for $DGEN tokens. A variety of different fantasy formats will be supported, including:
- Season Long Fantasy Mega Leagues: multi-division season-long managed leagues
- Season Long Dynasty Leagues: Multi-year managed leagues
- Scramble Fantasy: A unique NFT-powered format where collectors mint NFTs of random players, which are then "scrambled" into teams
Members will be able to enter contests in one of three ways: by entering free-to-play contests, by staking the project's upcoming native $DGEN token, or by traditional paid entry
Betting to Earn
Members will be able to earn the project's $DGEN based on their betting activity and/or through the completion of different tasks called "quests." Contests and quests will be presented and voted on by the project's DAO.
What is The $DGEN Token?
$DGEN will be the native token of the Knights of Degen ecosystem. When the $DGEN token is released, it will be distributed according to the following allotments:
- 45% to the Degen DAO Treasury
- 30% to Knights of Degen Inc.
- 10% to Contributors
- 15% via Token Claim
There will be a DAO staking pool where holders can stake their tokens to vote on different DAO proposals, with DAO governance serving as one of the token's main utility functions. The other function is the token's use as an in-game currency as referenced in previous sections.
The DAO will also be responsible for funding ecosystem development grants, managing the DAO Treasury, reviewing and approving proposals, and managing Degen Ventures, the venture arm of the DAO, among other duties.
Read the whitepaper in its entirety here.
Knights of Degen (KoD) is acquiring LeagueDAO, an on-chain fantasy sports product, according to a KoD fundraising slide deck that Lucky Trader recently obtained.
LeagueDAO is an NFT-powered fantasy sports product that blends together DeFi protocols, play-to-earn gaming and NFTs to create a web3 fantasy gaming environment. LeagueDAO enables collectors to own and trade the players on their team as NFTs and fantasy scoring is on-chain and based on real-world stats (think Yahoo Fantasy of web3).
For KoD, this merger represents a major step into the fantasy sports space, an area of focus as part of the project’s roadmap. The team has hinted the platform will incorporate both traditional sports and “future sports NFT games,” likely including Fan Controlled Football (an interactive football league which KoD is already a part of).
KoD further plans to “incorporate the LeagueDAO infrastructure into a platform” that can support the following capabilities:
- Tracking contest performance across all leagues, sports and events
- Ability to spin up new fantasy leagues for any sport at any time
- Integration of $DGEN (the upcoming native token of the KoD ecosystem, set to launch later this year) into the fantasy sports experience. Using $DGEN, the partners plan to take advantage of LeagueDAO’s ability to enable and incentivize league commissioners to be compensated for their efforts.
Members of the LeagueDAO team will be joining KoD staff, including the project’s founders– Jake Craven, Tyler Ward and Matt Hunter as part of the deal.
For KoD, the deal comes in the midst of a venture capital raise (reportedly around $8 million), as the project hopes to leverage these funds towards its stated goal of building a “decentralized Disney for degens.”
One key element of the KoD ecosystem will be the aforementioned $DGEN token. KoD is currently working with Wilder World’s Zero Tech and Horizen Labs (who also helped bring Yuga Labs’ $APE coin to market) on the token launch.
KoD launched in September of 2021 with its “Knights” PFP (profile picture) drop, and the project has since expanded into multiple different verticals, including:
- A food delivery business with KoD’s upcoming “Degen Sauce” restaurant, which will feature a “vodka sauce inspired menu” (in partnership with PopChew)
- An IPA beer called “KoD Degen Haze”, which was released earlier this month in a limited batch
- Ownership of a football team in the Fan Controlled Football league and co-ownership of a soccer team in EFL League Two (WAGMI United’s Crawley Town F.C.)
- A companion “Steedz” drop designed by featured artist Blake Jamieson
- The establishment of the “KoD Gaming Guild” as the team leans into the play-to-earn (P2E) space
- A KoD Tournament App for NFT-powered sporting competitions (for example, a 2022 March Madness bracket challenge) and other token-gated sports speculation contests
- The creation of KoD Media, the project’s decentralized media network
- Key partnerships with brands like Action Network, DraftKings, Dapper Labs, ZED Run that grant KoD holders perks like free memberships, private contests and more.
Through these initiatives, KoD’s ultimate goal is to create a 360-degen experience. In a glimpse of the future that KoD envisions, the deck posits: “Imagine being able to watch a live game and cheer on your own KoD team, order your own KoD food from egen Sauce, drink your own KoD Degen Haze IPA beer, all while hanging out and live betting the games with a community of like-minded degens.”
Neither side could be reached for comment on the matter.