DeGods, a prominent non-fungible token (NFT) project, has experienced a surge in sales following the announcement of its "Season III" collection. This new phase will introduce artwork that provides each DeGods token holder with four unique artistic assets. Within a day, the trading volume skyrocketed by almost 200%, reaching 1,359 ETH, equivalent to approximately $2.5 million. Despite the overall NFT trading volume witnessing a decline of 50% since January, DeGods seems to be bucking the trend.
OpenSea marketplace data reveals that DeGods' trading volume has surged by 197% in the past day, with traders buying 158 DeGods, placing the project at the top of the NFT platform's collection leaderboard. Even though the base price has dropped from 8.8 ETH to 7.4 ETH during this sales boost, a $13,600 NFT remains a significant investment in the current bear market, hinting at a potential upward trend for NFT sales in general.
DeGods recently unveiled its plans for "Season III", which will introduce 20,000 fresh artworks. The project will incorporate female profile pictures (PFPs) that can be exchanged for male PFPs. Additionally, certain traits that holders find unfavorable will be removed and replaced with new ones. DeGods emphasized that this strategy ensures no dilution of the collection. Instead of introducing new tokens, each DeGod NFT will now feature four pieces of generative art.
To update their token, holders will need to spend 333 DUST, the project's native utility token, which is currently valued at $2.26. All of the DUST collected will be allocated to the "Points Parlor" prize pool, allowing DeGods Season III holders to participate in games and win rewards. For those unable to afford the nearly $750 update fee, the cost will gradually decrease over time.
Originally a Solana-based NFT initiative, DeGods transitioned to the leading NFT network, Ethereum, after the downfall of FTX impacted Solana's token. The project also shifted its Solana-based counterpart, Y00ts, to the Polygon sidechain, accepting a $3 million grant from Polygon Labs. However, Y00ts recently declared its migration to Ethereum to align with DeGods, returning the previously accepted grant.
