Try Quests to earn cryptoThe Rise of DeGods
In this analysis we show why You can expect both DeDAO's DeGods NFT and $DUST token to rise in value following the DeadGod launch on 2022.03.31.
DeGods is a premier NFT of the Solana Ecosystem with a number of twists on the classic NFT and DeFi concepts. DeGods may be staked at stake.degods.com to earn 10 $DUST. DeGods may be burnt for 1000$DUST plus an amount proportinal to their rarity ranking. Out of the approx. 9.5k DeGods remaining at the time of writing a 1-2k ranked one would burn for ~8k $DUST, which is worth more than some of the DeGods on sale at the moment. $DUST has many uses: it will usable to upgrade a regular DeGod to a DeadGod, which earns 3x when staked (and can't be burnt)! It is also useful for participating in DeDAO's auctions and ruffles (NFT lotteries) where one might bid for or win BlueChip NFTs that DeDAO buys with it's treasury. Here's an overview of the idea straight from the DeGods twiter account.
So a DeadGod upgrade (which not only gives you a 3x staking bonus, but upgrades the NFTs visuals as well) will cost 1000 $DUST and will become available from 03.31. With this brief history of the DeGods out of the way, let's examine Sales Volumes, the NFT trait's effect on the trades and $DUST swaps in anticipation of the coming upgarades.
Trading volumes on ME definitely picked up since February, but which wallets are buying?
The distribution of sales tells us that only 7% of the Total Volume was done by whale accounts with individual Total purchase volumes over 1000 SOL. A further 10% was done by accounts with volumes over 500 SOL and 20% between 200 and 500 SOL. A further 20% between 100 and 200 SOL and 24% between 50 and 100 SOL, with only 13% between 20 and 50 SOL and about 6% belonging to accounts with purchases below 20 SOL. All this volume points to a very active community with over 60% of the buyers reaching 93 SOL Total volume or more.
Overall, I see no emerging trend yet towards any particular trait. The composition of sales mostly reflects the rarity of a particular trait. It is little surprise than, that we find that, most common Eye trait (no shades) making up most of the sales every day.
Circle sizes reflect the accounts Total DeGods purchase Volume in SOL for 2022.
Well, yes and no. It is true, that the largest $DUST swapper is massively in the DeGods game, having realized the 3rd largest purchase volume in 2022, but the 1st and 2nd most prolific buyers are missing from the $DUST swap scene on Jupiter. Also, 2 out of the top10 and 4 out of the top 20 $DUST swappers, have purchased no DeGods at all!
So, we can say this much: Large $DUST swappers, that buy DeGods, tend to buy a lot of them. However, not all big buyers swap for much $DUST.
Conclusion
With strong and sustained interest in the project as well as rising volume and sale price of the DeGods NFTs, I expect an explosion of demand for $DUST. With the currently available supply rapidly used up for the coming upgrades I expect $DUSTs price to rocket sharply following the upgrade's launch. The increased $DUST price will motivate many to burn their DeGods, decreasing their number and driving the price of both DeGods and DeadGods higher.