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De Labs, a digital asset incubation studio and the parent company of the popular DeGods and y00ts non-fungible token collections, has launched a new cryptocurrency. The creator of the DeGods NFT plans to simplify his collection of digital assets into a single meaningful cryptocurrency. In this article, we’ll explore this recently launched cryptocurrency in more detail.
De Labs launches new memecoin
In a blog post on September 15, Frank DeGods, the co-founder of the highly acclaimed DeGods, y00ts, and Dust Labs projects, confirmed the launch of a new memecoin token $DEGODS. The newly launched memecoin is expected to merge all the digital assets of Dust Labs’ NFT ecosystem into a single, functional cryptocurrency. $DeGods will be powered by the Solana blockchain network.
Every time a new launch with liquidity is launched it gets sniped. I always hate when this happens because it makes the chart look bad.
In the $DEGOD Situation, about 1% of the supply has been coupled to 66M. It has been sniper and the sniper is out of order.
THE $DEGOD The wick costs $330 million. It’s time to fill it. pic.twitter.com/wexKkzYW7v
– Frank (god mode) (@frankdegods) September 15, 2024
Founded in 2021, De Labs (formerly known as Dust Labs) is a digital asset company focused on building software that empowers non-fungible token communities and provides more value to their holders. De Labs is home to DeGods, a collection of non-fungible tokens comprising a limited supply of 10,000 NFTs hosted in portions on the Solana, Ethereum, and Polygon blockchain networks, and Y00t, a collection of non-fungible tokens comprising a limited edition of 15,000 Polygon-based NFTs.
In 2024, De Labs’ NFT ecosystem grew in popularity, becoming a global community of creators, developers, entrepreneurs, athletes, artists, experimenters, and innovators. DeGods and its sister collection Y00ts quickly grew to become one of the best-selling NFT collections on the NFT market, rivaling giant NFT collections like Bored Ape Yacht Club, Mutant Ape Yacht Club and Pudgy Penguins, CryptoPunks, Azuki, and many more.
What are $DeGods and how do I claim them?
$DeGods is a new crypto token created on the Solana blockchain network, with a limited supply of 10 billion. The new tokens are available for conversion to all investors holding $Dust, DeGods, and y00ts NFT collections. The distribution of $DeGods has been happening organically for 3 years without anyone noticing. Between DeGods, y00ts, and $dust, there are 41,241 unique holders across 4 different chains, with the top 10 holding only 9.3% of $DeGods.
Dude, you didn’t pay for the sniper? 🫠 pic.twitter.com/Yc0z3Lk6g6
— Wazz (@WazzCrypto) September 15, 2024
At launch, the DeGods team sold 3% of $degod on a discounted bonding curve to seed liquidity. Once the bonding curve is filled, the LP will be seeded on Raydium and $degod will be tradable. Amazingly, all 3% allocated sold out within minutes shortly after launch. NFT holders will convert their NFTs into $DeGods token at 1 DeGod for 550,000 $Degods, 1 y00t for 120,000 $Degods, and 1 $Dust for 36 $Degods.
In the meantime, the new $DeGods is live on various cryptocurrency exchanges. Unfortunately, the cryptocurrency briefly spiked to $330 million at launch, sold off, and is now hovering around a $70 million market cap. The token has already left several traders with massive losses. An anonymous trader bought $900,000 worth of DeGod’s new $Degods cryptocurrency at launch and sold it too late for nearly $300,000 in losses after the token was minted twice.
The crypto project has not been without its negative sentiments, with some traders criticizing the team for converting NFT collections into new memecoins. One trader on X argues that moving DeGods to the 404 meta and burning Y00ts and $Dust entirely was a bad decision. Additionally, the project has also attracted scammers, with one scam developer simply minting a fake $Degod coin and making over $150,000 in a matter of minutes.
Related NFT News:
Most Wanted Cryptocurrency Launch – Pepe Unchained
- Level 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof and Coinsult audited
- Staking Rewards – pepeunchained.com
- Over $10 Million Raised in ICO – Ending Soon
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