When indulging in cryptocurrency and digital artworks, you might have come across y00ts NFTs. y00ts Non-Fungible Tokens are the new trend expected to be the next digital artwork blue-chip collection. Stirring interests shown toward the token in the NFT-verse coming to Solana proves its popularity in Web3. Its hype before the release realized its growing popularity and will grow in the future based on the beneficial features it offers both artists and non-artists. Keeping that in mind, this guide explores what y00ts NFTs are, how they are worth investing, and how you can purchase or mint your tokens.
Background
In early July this year, Dust Labs announced the introduction of a new project called Duppies was to be an expansion of the DeGods project. However, the developer’s plans changed after a Twitter hack and instead opted to release the y00ts collection.
The y00ts NFT is a collection that’s part of the DeGods team that allows users to forge their PFPs. However, this Solana Non-Fungible Token project was initially meant to be something other than the y00ts currently known. Its name was supposed to be something other than y00ts since the DeGods developers planned for the Duppies project. It was to be an expansion within the DeGods ecosystem, but their plans were thwarted, and they had to reconsider. The y00ts NFT came to light as a common-sense version of NFT ownership and copyright.
The founders sorted the y00ts NFT to function like regular copyright. However, it has a few differences. It aims to handle intellectual property in a centralized manner. The y00ts NFT serves the purpose of a governing body that presides over the handling and management of intellectual property. It means that the intellectual property rights will not be specific under one y00ts holder. Moreover, everyone can see who is approved to use the NFT’s IP since it will be displayed in a registry listing.
The y00ts NFT explores the new licensing implementation method despite the uncertainty of this unchartered area. To understand the y00ts NFT project, you need to know about the DeGods project by Solana. DeGods is a community of creators and developers of the Solana digital art collection. The software focuses on benefiting NFT holders by raising the token’s value via Dust Labs.
What is y00ts NFT
The y00ts Non-Fungible Token is a digital art project that allows users to mint and sell PFPs (NFT Profile Pics). PFPs are among the most popular way of displaying NFT ownership. The Solana blockchain ecosystem backs it, that’s also one of the fastest in existence. Dust Labs is the team behind this NFT and is also the developer of the DeGods collection project. It recently hit its all-time high of 999 SOL, and its current floor price is 379.40 SOL. The y00ts token is centered on a sheep avatar with metadata layers that give the collection its unique features and characteristics.
y00ts Price and Market Supply
The y00ts NFT collection is displayed in the form of Yeti-like avatars, which has generated a lot of traction for Solana and Ethereum. However, y00ts NFT collection is a standalone collection party different from DeGods collection branding.
The y00ts collection consists of 15,000 available NFTs in the y00ts collection. Each y00ts NFT will cost 375 DUST tokens to mint. It will be a new kind of collection that will allow users to create and sell PFPs, making it one of its kind in the metaverse. Moreover, it is backed by Solana, one of the fastest blockchain networks.
Initially, the y00ts price was valued at 124 SOL and hiked to 186 SOL within 24hrs on September 6th. Its current floor price is 136 SOL, valued at $4,243. Dust Labs and the developers behind DeGods and y00ts are experts in raising NFT collection floor prices, and you can see this from here. The collection’s floor price is predicted to rise in the future, confirming profitability if invested in. Also, to purchase the y00ts NFT, you must have DUST tokens.
What is DUST?
DUST is the community token used by the DeGods collection and is employed to drive the project’s utility further. DUST is an SPL digital token on the Solana blockchain with a zero starting supply. The developers behind DUST aim to increase its supply cap to 33,300,000. In relation to y00ts NFT, 375 $DUST tokens are what you need to mint one y00ts token. Currently, it’s valued at $761.25 or 21.29 Solana ($SOL). However, one DUST token is priced at $1.51 since it has no economic value, and the free market determines its price.
You can get DUST tokens by staking DeGods NFT collections. Staked DeGods earn 2.5 DUST daily, and DUST is listed on DEX Raydium and can be purchased using SOL. They can also be purchased in the secondary market if you still need the DeGods NFTs in your digital wallet or missed the y00ts scholarship shortlisting.
Why Invest in y00ts?
Popularity for the y00ts token was long awaited before its release, and this was evident from the high number of applied scholarships to get the NFT. The founders’ success in raising the floor prices of digital artworks fostered the project’s popularity. The founders were Kevin, Dust Labs CEO, and Frank, DeGods creator. The y00ts whitepaper states that the collection acts as a copyright, but the collection will be the governing body instead of a central entity controlling the IPs (Intellectual Property).
Moreover, y00ts NFT collection focuses on changing the copyright game and allowing individuals to mint and purchase PFPs. As such, it is a unique feature that distinguishes the digital artwork from other NFTs. If y00ts is a smart investment, here is why you should take the next step of getting into the collection community frenzy.
Firstly, it’s backed by a team with an impeccable record having a good track record of success in NFT marketing and minting. It was also an eagerly awaited NFT that gained popularity even before its launch. The collection’s supply is 15,000, and the floor price is above 100 SOL. Also, there are several ways you can earn an income from y00ts for both artists and non-artists. In addition, the NFT collection has made over $6 million in secondary sales.
Earning Money with y00ts
There are unique ways in which you can earn from y00ts NFYTs collection. One is by being a developer or an artist. However, non-artists too can profit from the NFT collection.
How Artists Can Earn Money
Artists can earn money in multiple ways using the y00ts collection. After trait approval, artists and creators get a license. That means they can customize the prices and decide on a purchase method using DUST or SOL. This allows them to get 5% royalties on every purchase made in the secondary market. Artists can also pick available quantities and control their supply, creating demand for rare digital artworks. They can also earn through paid commissions for y00ts holders.
How Non-Artists Can Earn
Users can make traits for six months. Traits are the original y00ts NFT submission for approval, in which case, after approval, your y00ts gets listed. After this, the y00ts store will seise accepting them. After that, y00t holders can divide their artworks into different parts and sell them as individual items that are limited in supply. Trading for traits is also possible with y00ts. Also, non-artists can create y00ts clubs and y00ts copyrights and earn royalties from these sales.
Breakdown of y00ts NFT
Its rarity structure measures the collection to be 90% common, 9% rare, and 1% unique, with possibilities for double-staking for DeGods and y00ts owners. The release date was to be on September 2nd this year, but the launch date was postponed due to unknown reasons.
Where to Purchase or Mint y00ts NFTs
Purchasing the y00ts NFT can be done in two major ways: from the primary market through its scholarship or secondary market.
y00ts Scholarship
Individuals who registered and were shortlisted in the y00tslist were eligible for the y00ts mint release. However, if you are reading this article, there is still time to register and get a spot for the y00ts scholarship. There is another way to get the y00ts NFT. This is through purchasing the NFT marketplace.
NFT Marketplaces
The secondary market provides access to purchasing the y00ts Non-Fungible Token. Such secondary markets include Magic Eden, Solana’s top marketplace for NFTs. It’s among a handful of trustworthy choices for a digital artwork marketplace since they are already saturated, considering new ones pop up daily. Another marketplace is the OpenSea secondary marketplace.
Non-Fungible Tokens PFPs
NFT PFPs are Non-Fungible Token Profile Picturers and are digital artworks designed as characters or avatars. These PFPs are displayed of NFT ownership on social media platforms. They include characters resembling certain unique features, such as bored apes for the Bored Ape Yacht Club and yetis for the y00ts NFT. PFP NFTs are a growing collection that has taken the social media world by surprise and is yet to grow.
Conclusion
The y00ts Non-Funfgible Token Collection is among the top PFP collections that have been hyped, with valid reasons behind it. The NFT collection is profitable for artists and non-artist who are just token holders. As such, this has made it possible to invest and earn royalties and trade the NFTs to generate an income. Its value is also set to rise with its growing popularity, making it a reliable investment.