DeGods is one of the largest NFT collections on Solana. It is a deflationary collection of 10K NFTs consisting of degenerates, punks, and misfits. Collectors can purchase them on major Solana NFT marketplaces such as Magic Eden and Solanart, as well as on OpenSea. The collection stated its minting on 8th October 2021 and since then, a wide range of experiments has been conducted on the project. The collection has implemented a 33.3% Paper Hand Bitch Tax (PHBT) to punish those who sell below mint. These taxes will later use to buy and burn DeGods. Since the implementation, 535 DeGods have been burnt to $DUST. The DeGods holders can stake their NFTs to earn DUST tokens daily. Then, they can spend these tokens to mutate their DeGods into DeadGods which will earn more DUST tokens per day if staked. The DUST token has a maximum supply of 33,300,000 tokens with three having events.

More information is available in the official documentation and the link tree of the project.

In this analysis, the sales of DeGods and the swaps of DUST tokens have been investigated since the inception of the collection.

Since the launch of DeGods NFT collection in October 2021, more than 4K of its NFTs have undergone around 6.5K sales with a total sales volume of near 700K SOL. Around 3.9K unique sellers have sold their NFTs to 3.4K buyers in 4 marketplaces, counting V1 and V2 of Magic Eden as different stores. The average sale price of DeGods NFTs has been around 106 SOL since the inception of the collection.

Among the three marketplaces of Magic Eden (V1 and V2), Solanart, and OpenSea, Magic Eden has been the dominant marketplace by a massive margin. Almost 99% of the sales have happened on Magic Eden since the inception of the collection. However, the average sale price of NFTs has been different in each marketplace with OpenSea having the highest average with around 240 SOL. Considering the dominance of Magic Eden, especially its version 2.0, its price of near 150 SOL can be considered the most accurate average price.

The daily sales analysis of the collection is an indication of sales on Magic Eden considering its domination over other marketplaces. The number of sales has heavily dropped since early the months after the launch to levels lower than 10 per day. The sales activity was high during the first three months of 2022 due to the progress that the project made with the introduction of DeadGods and the DUST token. Interestingly, the number of sellers was higher in days with a high number of sales in the first few months while it has balanced with the number of buyers in recent months. On the other hand, the gradual increase in the average price of each NFT has increased the sales volume. However, this trend continued until the end of April. Since then, although there have been some spikes in the volume chart, the overall trend has been to the downside. Also, the price has plateaued to around 300 SOL which coincide with the massive drops in the whole crypto market

The analysis of NFT distribution among the holders has demonstrated that nearly 70% of the owners have only had 1 NFT, while the holders of 2 and 3 NFTs have been around 15% and 6%, respectively. Cumulatively, less than 10% of the holders have more than 4 DeGods. Nevertheless, there are a few addresses that hold a substantial number of DeGods. Two wallets hold more than 60 DeGods which could be considered the DeGods whales. It is worth noting that the number of NFT holdings of an address does not directly correlate with the average purchasing price and the total purchasing volume of the NFTs.

Among all the DeGods/DeadGods, the NFT numbers 4486 and 3033 (two left images) have had the highest sales price with more than 999 and 1099 SOL each, respectively. On the other hand, the NFT numbers 7516, 4971 (two right images ), 4877, and 6487 have had the highest number of sales and have traded 7 times since the launch of the collection.

Each NFT from the DeGods collection has a maximum of 8 attributes including background, skin, clothes, specialty, head, eyes, mouth, and neck. The majority of NFTs have 5 to 7 attributes while only around 4% of them have 8 attributes. Around 0.5% of all DeGods have only 3 attributes.

The highest number of sales and sales volume of eye, mouth, neck, and specialty traits have belonged to NFTs with none of these attributes. On the other hand, NFTs with a teal background, a fade head, turquoise skin, or a god beater cloth has had the highest sales volume.

In conclusion, the analysis of the sales of DeGods has demonstrated that although the average price of each NFT has massively increased since the launch of the project, the number and volume of the sales dropped to the lowest levels the project has seen during its lifetime. Magic Eden has been the dominant marketplace for purchasing and selling DeGods. The project is well distributed among its collectors, however, there are large holders with a substantial number of DeGods in their possession. Among the NFTs, those with fewer attributes, have accounted for the majority of sales both in terms of number and volume. Last but not least, the swaps trend of the DUST token has decreased to levels as low as its swapping start after a massive upward trend from the beginning to mid-June of 2022.

The required data for the sales analysis of DeGods NFT collection were selected from the fact_nft_sales table of the core schema of the solana database. The address of each NFT in the collection was obtained from the dim_labels table using the degods filter. The analysis of the traits of NFTs was conducted using the data on the dim_nft_metadata table. The queries are quite straightforward with a daily refresh rate.

> Considering the limited number of DUST tokens available and more than 97% of DeadGods being already staked, according to the official staking website, the staking and burning of DeGods have not been analyzed in this dashboard.

The daily swaps of DUST token both to and from it has been plotted on the following charts. From the DEX perspective, Jupiter had the highest share from the beginning to mid-June. Since then, Raydium has accounted for the majority of the swaps. The swaps had an overall upward trend again from the start until mid-June, and after that, they massively dropped to levels as low as April.