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Blue Chip NFTs 101 – A Brief Look At Solanas DeGods

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In our latest installment of ‘Blue Chip NFTs 101,’ we’re taking a dive into non-Ethereum chain NFTs; we’ll be working our strategy by the use of excessive 10 blockchains and their largest NFT initiatives, all whereas nonetheless highlighting predominant noteworthy initiatives that are on Ethereum.

In our first piece inside the assortment, we lined the excellent rise of ‘Moonbirds,’ the most recent NFT mission that has seemingly skyrocketed to blue chip standing nearly in a single day. Let’s try

The Fundamentals: Solana’s NFT Standing

Solana has had it’s justifiable share of critics in latest instances – the chain has had durations of intermittent downtime, and it is normally criticized as carrying further centralized qualities relative to comparable and competing chains. The goal of this write-up isn’t to guage the character of the chain, nonetheless fairly to hone in on certainly one of many largest NFT initiatives inside the ecosystem. We’ll go away a deep dive of Solana’s blockchain development for yet one more day, on account of one issue leaves little questioning – Solana was an early mover in being an Ethereum competitor that offered an NFT ecosystem with cheap gas prices.

At current standing, the brand new trending topic in Solana NFTs is undoubtedly Okay Bears – a extra moderen PFP NFT mission that has gained traction as a result of the Solana ecosystem has grown.

DeGods: Current Standing

DeGods have far and away one of the best flooring worth inside the Solana NFT ecosystem, continuously commanding north of 200 SOL whereas routinely sustaining a excessive 5 place in daily amount. The ten,000 mint mission has a market cap that encompasses virtually 20% of the total Solana NFT market cap, primarily based on info from Solana NFT aggregator Hyperspace.

DeGods has a bit further of a ‘legacy’ standing inside the Solana ecosystem, nonetheless as with all early mover, it might be troublesome to handle the standing as challengers emerge. The most important challenger in present weeks has undoubtedly been Okay Bears, which have been the face of Solana on communities like NFT Twitter, and has blown away Solana amount over the earlier week with over $40M worth of Okay Bears being bought and supplied. DeGods even have a greater ceiling, nonetheless having decrease than 10% of that amount over the an identical timeframe implies that Okay Bears is likely to be gunning for the best spot as a result of the Solana panorama continues to develop.

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Solana (SOL) wouldn’t have the legacy standing in NFTs that Ethereum has, nonetheless the blockchain has seemingly secured the #2 spot by way of NFT communities. | Provide: SOL-USD on TradingView.com

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Newest Buzz: A Essential Acquisition

What’s DeGods doing to cement it’s positioning as a Solana ‘blue chip’? It’s less complicated talked about than completed, nonetheless the DeGods group these days made a splash and made some headlines by shelling out roughly $625,000 for a workforce acquisition in Ice Cube’s ‘BIG3’ basketball league. The league brings 3×3 half-court basketball with a twist, and has continuously hosted ex-NBA athletes and ex-college stars (a couple of of which have even returned to the NBA flooring after exhibiting for the BIG3, a la Joe Johnson).

DeGods purchased 25 NFTs of the BIG3’s ‘Killer 3s’ workforce at $25,000 a piece, in a name made by the NFT group’s DAO late ultimate month. Almost equally impactful is likely to be the strikes that adjust to go effectively with. Launched over the weekend was an an identical switch from music mogul (and well-known crypto fan) Snoop Dogg, who teamed up with PayPal co-founder Ken Howery to purchase 25 NFTs of their very personal, this workforce for the league workforce ‘Bivouac.’ This sponsorship model from the BIG3 may be very distinctive, and the league has opened up it’s private Possession Model Twitter internet web page, along with a loyal whitepaper outlining how the sponsorship model operates. Crypto and blockchain know-how is working rampant by the use of the BIG3 and DeGods can safely consider themselves ‘early.’

There’s heaps further on the horizon for DeGods as successfully. In a present ‘State of the Union‘ deal with, the workforce addressed an area token (and among the many suggestions of skepticism spherical it), events, and a loyal clip throughout the logic behind the DAO shopping for the BIG3 workforce.

Little is particular inside the NFT panorama, nonetheless DeGods is seemingly well-positioned to be a Solana staple with it’s current engaged group and energetic, aggressive technique.

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