Frank is typing

the history of degods & y00ts

I just wrote this off the dome so it’s pretty raw.

We started by making human PFPs at a time when animal adjective PFPs were the hottest thing. That’s how we landed on “gods”.

We focused on the idea of making our holders feel like gods. We picked DeGods as the name because the domain names were $5.

Then we had the idea of the Paper Hand Bitch Tax. At the time, people were always complaining about paper hands, so we wanted to solve it by implementing a smart contract tax on people that listed under the floor.

Even this was an experiment on if you could create an NFT that programmatically made number go up. The answer was obviously no. Fine, no problem we scrapped it. Worth a shot.

After that, we wanted to do a fair launch token. No pre-mine, no complex tokenomics. Modeled after Bitcoin, $DUST started at 0 supply and the only way anyone could mine it was by staking their DeGods.

Max supply was set in stone at 33,300,000. Instead of setting aside any portion of the supply, we decided to just launch things for our ecosystem to collect the $DUST supply from people that fairly earned it.

This was around the same time as many popular NFT projects were launched tokens with all kinds of convoluted mechanics and unfair distribution schemes.

Then, as we started getting more traction after being labeled “dead” for 5 months… instead of diluting our community with a new collection we decided to just update the metadata of our existing NFTs with new art.

DeadGods. Yes, what I’m describing is the “art upgrade” meta. DeGods -> DeadGods (Season 2) is what popularized this meta in the first place. It’s funny because many of my critics often say “lmao all you do is update your art”… yeah bro we kinda started this meta because we don’t want to dilute our collection.

People didn’t think DeGods would do well after the first art upgrade. They were wrong. DeGods became the #1 project on SOL.

Right after that happened, we decided to make our next big move. We bought a basketball team in the Big3. Immediately after us, VeeFriends, Moonbirds, DOGE, and a few other projects purchased a team as well.

We bought it for $500K upfront and don’t pay any operating costs on it. There are stipulations to this but none are really that restrictive at all. If we decide to sell the team, we can. We have no intention to for a while though. We want to buy more teams in all kinds of different leagues.

Online communities owning sports teams of all kinds is inevitable. Maybe it feels more obvious today after guys like Ryan Reynolds & Tom Brady are buying football & F1 teams.

In April of 2022… it wasn’t as obvious to everyone. Then it got to a point where people were begging for us to drop a 2nd collection. Instead of doing “Mutant DeGods” or “Baby DeGods” we recognized that it would be optimal to create a new type of IP with its own unique audience and upside.

What came next was y00ts & y00tlist.

The idea was to make people rethink the concept of forming a community in Web3. What if we try to curate the community from day one? What if we can make our new holders have a mini-celebrity moment? This experiment generated 80M impressions across all our major Twitter accounts over 30 days. It increased our audience and awareness exponentially.

Next, was the dark days. We had personal experience in seeing that royalties were going to zero. DeGods were being traded on 0% royalty marketplaces way more often than most other projects. We decided to cut down our team size and lower burn dramatically…way before anyone else started to realize how serious this 0% royalty trend would become.

I got infinity amounts of shit for trying to send a warning to other creators that this was inevitable. Despite the hundreds of lies spread about this decision, my intention was always to serve as a warning to teams that they needed to buckle down and be prepared for a world without royalties.

I’m happy that at least a few teams took the warning seriously. Right after that, y00ts reveal was short-lived because FTX happened literally 7 days after. That’s when we floated the idea publicly of potentially bridging blockchains.

This made me public enemy #1 on Solana for a while. I didn’t care… because everyone’s public emotions did not affect my decision making.

I made it publicly clear that my loyalty is to our communities not to any blockchain. Right after that, we announced our intentions to bridge on Christmas.

Right after that, in late January is when I first saw Ordinals. It became obvious to me that this ecosystem would be a big deal. So we decided to flex on everybody and literally inscribe an entire Bitcoin block.

Then we launched the first public, flat mint mechanics on BTC with Luxor Mining. Obviously, many “experts” faded BTC DeGods heavily. They are currently the #1 NFT on BTC by marketcap.

Right after that, we debuted a custom bridging experience we created in collaboration with Wormhole. We thought through every mechanic we could possibly implement to make it as frictionless as possible.

The bridges went historically well. 90% of y00ts bridged on the first day and 80% of DeGods too.

Right after that we hosted DeNYC. We booked out 3 floors of The Public hotel and sold them to community members that wanted to hang out with other people in the community.

We took the profit from the fees generated and used most of it to supply all attendees with exclusive merchandise. Not to mention all of the sponsors that help make these events profitable.

Which is something I want to scale. Right after that, we launched de[id], our form of holder identification.

This involved building our own Discord verification bot, our own wallet delegation system and a new type of Twitter bot.

The idea for Twitter is to verify holders by following them with our official Twitter accounts, so others could easily verify their authenticity at a glance.

We launched de[id] and it caught a lot of traction. I’m excited for people to see what this type of infrastructure is going to allow us to do.

Right after that, we started to really get to work on what you’re about to see coming out this week. I think it’s our best work on every level. I’m excited to share it with everyone.

In the meantime feel free to use this as your bookmark for anytime you want to know about the history of this project.