Latest y00ts (Solana) News
Frank DeGods announced the merging of DeLabs and Dust Labs in a redefining moment for the brands in which he'll play CEO.
The Deet
- Merger Magic: @delabsxyz and @dust_labs consolidate into one powerhouse.
- Leadership Shuffle: A new captain steers the ship as previous leader steps down.
- Lean and Mean: Streamlined team of 13 with ample runway for innovation.
- Vision Renewed: The fresh CEO brings a blend of optimism and realism to the table.
The Bulk
After the DeGods Season III was introduced to the world, Frank DeGods became painfully aware of his company's internal turmoil and reflection. Therefore, the decision to merge DeLabs and Dust Labs into a singular entity was made, but not taken lightly.
The merger is a strategic move aimed at aligning the team towards a unified goal, ensuring resources are optimally utilized and that the community remained at the heart of their efforts.
This restructuring was in response to a series of challenges that became apparent post-launch. The original division between DeLab's community focus and Dust Labs technological development led to a dilution of efforts and priorities. Recognizing this, the leadership took decisive action to consolidate efforts, streamline the team, and refocus on their core mission. The merger also signaled the departure of former leader Kevin DeGods.
🎤 Founder Feedback
You honestly have to be a little crazy to still be here. whether that's on the team or in our community. but you have to be fucking nuts to fade us now.Frank DeGods
📊 By the Numbers
The DeGods floor price was relatively unchanged after the announcement, gaining 1.36% to 2.77 ETH. The collection is down more than 4% on the week.
🔜 What's Next?
With a leaner team and a unified vision, DeGods is gearing up for a future filled with innovation, community engagement, and new ventures.
Frank DeGods teased a few details of the upcoming v0.1 of de[id], a platform offering unique wallet authentication, Twitter integration, and enhanced Web3 profiles from DeGod's founding company, Dust Labs.
The Deets
- de[id] + Wallet: Offers authentication for ETH, Polygon & BTC, with wallet delegation to minimize security risks
- de[id] + Twitter: Connect your Twitter account for streamlined interactions with DeGods & y00ts NFT communities
- de[id] v1.0 (coming soon): Promises a more user-centric web3 profile environment
The Bulk
Dust Labs has unveiled the v0.1 of de[id], a cutting-edge platform designed to reshape how users interact with the Web3 ecosystem. The platform's functionality can be broken down into three key areas: wallet, Twitter, and user profiles.
In the realm of wallets, de[id] brings an advanced level of authentication for Ethereum, Polygon, and Bitcoin, providing a much-needed feature in an industry plagued by security concerns. Furthermore, it introduces the concept of wallet delegation. With this, users can authenticate their cold wallet once and avoid the risks associated with repeatedly accessing these secure storage solutions.
The platform's integration with Twitter enables quick community building. Upon connecting their Twitter accounts, users will be followed by DeGodsNFT and y00tsNFT. And shortly, a feature will allow users to one-click follow all verified DeGods and y00ts NFT holders.
🎤 Founder Feedback
🖼️ The Big Picture
Dust Labs is working to simplify the community building experience, making it more accessible, secure, and user-friendly.
![Frank DeGods Teases de[id]](https://d2jfnp6ieh0n8b.cloudfront.net/deid_38e3698c54.webp)
@waleswoosh summarized a Discord AMA session held by Dust Labs founder Frank in an early morning Twitter thread that was later retweeted by the official y00ts Twitter account today.
❗ The Details
In the AMA, Frank hit on a number of upcoming initiatives within the Dust Labs ecosystem, most notably:
- y00tpoints, the rewards program for y00ts holders, is one of the team's current priorities. Earned through staking a y00ts NFT, y00tpoints will soon be redeemable for rewards, which will "not be merch, but dope sh*t that no one expects," according to Frank.
- y00ts will receive a forthcoming art upgrade, but the rumor that states holders will be able to purchase certain traits using y00tpoints is not true.
- Operation MHL (which stands for Maximizing Holder Liquidity) is another focus for the project. Frank plans to provide y00ts holders with access to "top tier tools and individuals in web3 who will educate and enable them to make a bag in the space."
- To help solve for the low liquidity in the Polygon NFT ecosystem, Frank mentions that "several team are working on solutions" that will soon enable y00ts to be purchased with mainnet ETH.
🔜 What's Next?
The above items are all expected to happen in Q2, and Frank expects June in particular to be a big month for the team.
🎤Founder Feedback
"We gonna be the #1 and #2 projects in the f*cking world" - Frank
🕳️ Go Deeper
y00ts are officially on the move, after the team began the collection's migration to Polygon around 1:20 AM ET this morning.
🔎The Deets
- At the time of posting, 5,772 y00t NFTs held by 897 unique owners have been migrated to Polygon.
- Now denominated in ETH, the Polygon collection has a floor price of 1.93 ETH, with two sales over the first six hours.
⚡ Take Action
- Those interested can migrate their y00t via the project's official website.
- The team recommends using Phantom wallet for the smoothest experience.
- Holders will be gifted $5 by Magic Eden for every unique y00t listed on the platform in wETH over the first 24 hours following migration. If the y00t is sold, an additional $20 USDC will be awarded.
- Watch a demo of the migration process, recorded by @jaypee_sol.
- For instructions on funding a wallet to make purchases on Polygon, refer here.
🎤 Community Quote
The @y00tsNFT bridging to @0xPolygon has been an absolute orchestra from the branding to the smart contracts, and to the communications. The feedback from the community has been really solid. It's rare in web3 for things to go exactly according to plan when it comes to major bridging events. Hats off to @frankdegods and the @dust_labs team, you nailed it.@Tytanic
y00ts will be migrating to Polygon tomorrow, according to a late night announcement from the team.
❗ Why It Matters
Back in December, project founder Frank announced y00ts and DeGods would be migrating away from the Solana blockchain, with y00ts headed to Polygon and DeGods following a hybrid approach, bridging to both Polygon and Ethereum. Polygon gave DeLabs a $3m non-equity grant to help facilitate the deal. Now, we finally know when this move will take place.
🔎The Deets
- The announcement notes that holders will be rewarded for migrating within the first 24 hours.
- NFT marketplace Magic Eden will be covering gas fees associated with the move, and will gift users $5 in USDC for every y00ts NFT listed on Magic Eden. Additionally, y00t trading will be fee-free on Magic Eden for the first 30 days.
- y00ts will be airdropping one BTC DeGod and one y00t NFT to lucky winners 24 hours after the migration based on a snapshot of holder wallets.
- To encourage holders to migrate, DeLabs will be enforcing a 33.3% PHBT (paper hands bridge tax) royalty fee on the y00ts Solana collection. This will take effect on April 3.
- It was also announced that DeGods will migrate to Ethereum on March 31. More info about the DeGods migration will follow this week.
🎤 Community Quote
This is a work of beauty. I hope the tech matches but in terms of communication, aesthetics, marketing and attention to details, @frankdegods and the team are unrivaled in crypto and also top notch in the retail worls. Truly captivating stuff.@PsyChrypto
The 535 resurrected DeGods NFTs are expected to mint on Bitcoin on Friday, according to a detailed thread from the project.
The Deets
The DeGods mint will be open to the public, and be rewarded on a first-come, first-served basis. Additional details include:
- Recommended self-custody wallet with 0.444 or more BTC ready.
- A separate Ordinals wallet will be needed to receive the inscription.
- 34 DeGods raffled in $DUST, the DeLabs ecosystem token.
- First burned DeGod raffled in $DUST, auction live now. Current bid ~$61,000.
- Expected mint sometime Friday evening.
❗Why It Matters
Frank DeGods, founder of DeGods, has been championing the Ordinals movement and has continuously proclaimed that his goal is to be "No. 1 on Bitcoin." While that may be to the dismay of DeGods or y00ts holders hoping to reign in his focus, the new project has brought additional attention to the DeGods brand and offers a new opportunity to collect a unique entry point to the project.
🎤Community Quotes
The latest announcement has been somewhat polarizing, with commentary mainly being shared about the mint price which clocks in at more than $11,000 at the time of writing.
Frank DeGods will participate in community-hosted AMAs starting early next week for both the DeGods and y00ts community, according to a message shared in the DeLabs Discord.
The Deets
- Members of the XDeGods and y007ts sub-communities will gather pressing community questions and feedback.
- Frank will record two separate AMAs, one with each community.
- AMAs will be shared for all to watch and will continue until new team members are onboarded.
- Schedule is TBD for now, but the start is expected early next week.
❗Why It Matters
Making all community members happy is a fool's errand, but Frank is borrowing a page from PROOF's book, looking to more transparently update holders on the initiatives of DeGods and y00ts. Though the recognition is coming retrospectively, Frank's AMA is at least an attempt to rectify the poor communication he realizes has been present in the last few months. The lack of project communication is a frequently a gripe of NFT holders, but even the notoriously bad communicators (Doodles) may be coming around to a growing trend of "innovating in public" versus building in silence (hat tip, Pixel Vault).
🎤 Founder Feedback
I empathize with any holder that has been disappointed in us lately. I'm aware that communication has been bad. To solve this, I'll be recording & publishing a structured, information dense AMA with leadership of @XDeGods & @y007ts every week.Frank DeGods
The official DeGods Twitter account tweeted, "535 DeGods on Bitcoin. Coming soon," this morning, indicating the project will be the next to hop on the Ordinals bandwagon.
❗ Why It Matters
The announcement comes hours after Yuga Labs raised over $16 million through its TwelveFold drop of Bitcoin Ordinals.
🔍 The Deets
- The 535 DeGods were inscribed on Bitcoin block 776408. DeGods describes its inscription as a "1/1 revolutionary art piece."
- DeGods collaborated with Luxor Mining and Terra Pool on the project.
🎤 Community Feedback
Pudgy Penguins announced it is co-hosting "Midnight in Paris," an official and private event with DeGods, on Feb. 24 in Paris, France.
❗ Why It Matters
Two of the most prominent PFP projects are collaborating for an IRL event in Paris of their own making, and it's notably not attached to a larger event like NFT NYC or Art Basel.
This comes in the wake of DeGods announcing its plans to take over NYC for NFT NYC 2023, and both teams clearly have an eye on ramping up "IRL activations" in 2023.
🔜 What’s Next?
RSVP details for holders to be announced in the next week.
🎤 Community Quotes
DeGods and y00ts are hosting an NFT NYC "experience" at the Public Hotel in New York, according to an announcement by the project.
The Deets
Announced around 10:00 p.m. ET on Friday, the De NYC experience offered 50 rooms to DeGods and y00ts holders, all upgraded with limited edition merch and more surprised from the DeLabs team. About five hours later, all 50 rooms were sold out, leaving only a waitlist for any other holders hoping to take part in the experience.
❗Why It Matters
NFT NYC has historically provided NFT communities with a great opportunity to connect with holders and prospective holders alike. Brands like Cool Cats and Doodles have been applauded for their respective "IRL activations" and DeGods and y00ts will now have the same opportunity.
🎬 Take Action
Although all 50 rooms have been blocked, holders can still sign up for the waitlist if any of the reservers are unable to prove ownership of a DeGods or y00ts NFT, or unable to attend the event.
