Our Blue Chip NFTs 101 sequence is now approaching six months within the making, and we’ve taken wholesome deep dives into among the largest NFT initiatives available in the market; whereas everybody has heard of Bored Apes and CryptoPunks, we’ve taken the time to offer hefty due diligence round different main blue chip initiatives like World of Ladies, Artwork Blocks, DeGods, Moonbirds, and extra.
We’re again within the combine and trying to hold you forward of the curb as an upcoming mint for NFT challenge ‘y00ts’ has generated a lot traction and discuss, we suspect it might simply be a blue chip within the making. It’s invite-only whitelist up to now, which brings all the professionals and cons of exclusivity, and most notably the hype and anticipation that restricted entry can convey. Let’s take a deep dive into y00ts and what we’ve seen up to now.
From DeGods To y00ts: Is Blue Chip Standing Actually That Straightforward?
It’s been over three months since we printed our Blue Chip NFTs 101 piece on DeGods, the standout Solana challenge that basically took Solana-based NFTs excessive and helped surge the blockchain into the agency #2 place within the NFT market, second to solely Ethereum. On the time, DeGods had been commanding a ground value at roughly 200 SOL (roughly $15K with SOL costs on the time). Regardless of an ongoing bear marketplace for NFTs, at present the DeGods assortment stands at almost a 600 SOL ground, which at at present’s SOL costs, equals nearly $20K. Step apart, bear market, as a result of DeGods have been enduring the storm.
Why do DeGods match into the equation on this dialogue? The staff behind DeGods is basically that behind y00ts, with each initiatives spearheaded by more and more widespread NFT determine, Frank. We’ve taken the time to overview DeGods at size, so let’s shift again to y00ts; is Frank merely a group mastermind who understands the key sauce of NFT initiatives, or is DeGods the exception to the rule, with y00ts using the hype prepare? Solely time will inform, however within the meantime we are able to take an goal have a look at what has gotten a lot pleasure behind y00ts to hold it to the place it’s at present. This 12 months, DeGods have actually exceeded many expectations, securing a agency place as the highest Solana NFT challenge with few rivals even coming shut.
Solana (SOL) has been exhibiting actual potential at being a prime NFT blockchain; can y00ts assist safe the blockchain's #2 spot, and even look to have Solana contest Ethereum within the NFT realm? | Supply: SOL-USD on TradingView.com
Present Strikes As Mint Approaches
What’s the catch round the entire present hype? Few NFT initiatives have had this a lot hype pre-mint, and you can argue that this would be the first NFT challenge on the Solana blockchain to convey this a lot hype earlier than mint. Whereas the challenge is slated to move to mint on the finish of this week (September 2, to be actual), the hype has been fueled by a whitelist software course of over latest weeks. The window closed final weekend, however y00ts have been saying main whitelist spots to recognizable expertise and influencers – which is all the time certain to be a controversial technique as normies really feel left for the mud with public mint. So far, nonetheless, it appears to have paid off for the challenge, who’ve additionally accepted handfuls of purposes from non-recognizable names – even in crypto.
In the meantime, the challenge’s imaginative and prescient outlined within the whitepaper is to problem conventional strains of considering round NFT mental property. The challenge seems to be to combine streamlined IP utilization instruments which can be owner-first, and construct out a storefront that permits customers to customized their NFT property at their discretion; briefly, it’s a roadmap for what the challenge calls “y00topia.”
In the meantime, y00ts have filed a registered trademark earlier this month which may present added perspective, too. The submitting spans quite a lot of use circumstances, together with broad software program items, NFT-related retail and advertising efforts, digital asset and NFT market lessons, leisure and schooling and extra. Whereas initiatives and companies sometimes overindex (somewhat than the choice) in relation to trademark purposes, the transfer additionally indicators y00ts want to go massive.
Keep tuned to see if y00ts can take over DeGods for the highest spot on Solana.
Featured picture from twitter.com/y00tsNFT, Charts from TradingView.com The author of this content material shouldn't be related or affiliated with any of the events talked about on this article. This isn't monetary recommendation. The next op-ed represents the views of the creator, and should not essentially mirror the views of Bitcoinist. Bitcoinist is an advocate of artistic and monetary freedom alike. *The author of this content material doesn't personal any of the NFTs talked about on this article. This content material is produced solely for academic and informational functions.