42 [SOL] The Rise of DeGods

    What are DeGods and DeadGods?

    DeGods is an experimental NFT collection on Solana with a cool community behind it. It is introducing a new experiment with the $DUST token where the DeGods NFTs can be upgraded to DeadGods with the same traits.

    1. Looking at top 10 $DUST buyers, we have the top wallet with almost ~50K of $DUST purchased.
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    Sales Volume

    1. March has been a pretty shocking month for the NFT sales of this collection.
    2. For many days in March, we didn't see any sales.
    3. This collection reached its peak of 2500 SOL sales volume in the middle of Februray.
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    Sales Distribution

    1. Using a scatter plot, we can see the sales distribution of the number of NFTs bought. We find that 926 wallets have bought 1 NFT
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    Sales by traits

    1. Looking at the sales by traits, we find that the "Background" traits have the most sales in the top 20 following by "Skin".
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    1. When looking at how many of the $DUST buyers also bought a DeGods NFT, we only get 7.21% of the $DUST buyers which is quite low!
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    12 We can look at the top 10 $DUST buyers and see that the top $DUST buyer only bought 2 DeGods NFTs. 13. Overall, out of the top 10 $DUST buyers, only 3 bought the DeGods NFTs.

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    $DUST Sales

    1. Looking at the $DUST sales we can see the recent uptick in users swapping for $DUST.
    2. At its peak, there were ~75K $DUST bought on March 22, 2022.

    DeGods have become quite popular with floor price being ~100 SOL and all-time volume close to 220K.

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    Methodology

    In this analysis, we're looking at who are buying the NFTs and the $DUST token and if there's any correlation between the two.

    Observations

    1. Looking at the top 10 buyers, the top most buyer has bought 30 of the DeGods NFTs.
    2. All of the top 10 buyers have bought more than 10 NFTs each.
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    Conclusion

    The $DUST and DeGods NFT buyers seem to be a different audience. From the data, we saw that there is very low overlap between the two audiences with only 3 of the top 10 $DUST buyers also buying a DeGods NFT.