Home Latest News Latest Solana NFT Collection Gives Ethereum NFTs a Run for Their Money...

Latest Solana NFT Collection Gives Ethereum NFTs a Run for Their Money – Blockworks

DAS: London Ticket Prices Increase Next Week. Secure Your Ticket Today.
webinars
As the volume of Web3 activity continues to surge, it has become increasingly important to collect the right data to monitor consumer behavior and prevent fraud. This webinar will discuss how blockchain intelligence tools can be utilized to improve consumer confidence […]
Y00ts NFTs have garnered attention for their free mint and approach to NFT intellectual property rights
The company behind the Solana-based DeGods project, the most valuable Solana NFT collection, is at it again.
Dust Labs is in the midst of a whirlwind week — complete with a few hiccups — between a $7 million seed raise and the release of its newest NFTs, y00ts.
The “y00ts mint t00b” collection has topped OpenSea volume charts for the past 48 hours, amassing 227,000 solana (SOL), or over $7.1 million in secondary sales at the time of publication, per CryptoSlam data. Its floor price peaked at 167 SOL on Wednesday. 
The hype behind y00ts, short for y00topia, is in part due to its scholarship whitelist program and its custom version of copyright, promising to reform the traditional monetization system for NFT collections.
Only collectors accepted to the y00tlist are eligible to mint a t00b NFT. Essentially two different collections, t00bs are vials that can be burned to mint y00ts NFTs. 
DUST, the DeGods ecosystem utility token on Solana, is necessary to mint y00ts. 
The full NFT reveal hasn’t occurred yet, and a derivative collection called y00ts Yacht Club, has already been developed and sold out.
Initially scheduled to drop on Sept. 4, the y00ts mint was delayed due to a “blocker bug” five minutes before start time, according to the team. 
Since going live on Sept. 5, the project’s volume is greater than that of the Bored Ape Yacht Club (BAYC) collection within the last seven days. 
However, even the waitlist mint, scheduled for Sept. 6, ran into unknown issues and has been rescheduled
Despite the delays and complications, Twitter user alexjm.eth lauded the project for having “singlehandedly sparked bullish sentiment in the midst of a painful bear.” 
Another collector, NFT influencer Franklin, decided to sell his y00ts mint spot and make a 90 SOL profit. He is the 6th largest Bored Ape collector with 60 BAYC NFTs in his portfolio.
y00ts have taken over NFT Twitter. I was able to sell my mint for 127.41 SOL after fees. I spent about 37 SOL on the DUST, and paid 6.85 SOL to the team through royalties on my sale. It was a major accomplishment to make this list and I will work hard to make future lists! https://t.co/zeyhIKqXGO
Y00ts and DeGods’ founder Frank responded to Franklin via Twitter, stating that it’s “gonna be hilarious when degods flip apes this year though.”
We would like to announce that we have raised a strategic round of $7M to build out the $DUST ecosystem.

AMA with @frankdegods & our CEO @kevindegods on Thursday, September 8th. pic.twitter.com/VxzdZeu3P0
Backers of the startup’s venture included Foundation Capital, Solana Ventures, FTX Ventures, Solana NFT protocol maker Metaplex and top Solana NFT marketplace Magic Eden. 
The company tweeted that it intends to build a “B2B SaaS start up to help NFT projects provide the most value back to their holders.”
Dust Labs is experimenting with a new copyright and ownership system for y00ts NFTs they call ⓨ, as a replacement for the more common copyright symbol ⓒ. 
The power behind ⓨ, according to the y00ts team, is that any active community member can start their own “club” or sub-community — based on shared interests, memes or merchandise — and register the derivative project with ⓨ.
Each sub-collection is a governing body that can benefit from royalties on every y00t that sells with any of their customized traits. This system may also make it easier to approve or reject requests to use an NFT’s intellectual property (IP). 
This comes at a time when many blue chip NFT collections are altering their own terms of service when it comes to copyright and IP rights.
Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.
DATE
Monday & Tuesday, October 17 & 18, 2022
LOCATION
The Royal Lancaster Hotel, London
Enclave Markets to allow crypto traders to make block trades off-chain to minimize market impact
The Biden administration is urging crypto miners to explore greener alternatives
Bitcoin has forever remained the top crypto, but Ethereum’s Merge could mark the beginning of a major divergence
$1.4T asset manager’s separately managed accounts to be available to financial advisers and wealth managers via Eaglebrook Advisors’ platform
Gensler, who served as the CFTC head for six years, said he is on board with helping Congress grant the commodities regulator more oversight

source

Previous articleApple Leaves iPhone 14 Mini Out of Latest Lineup – CNET
Next articleAndroid 13 new features – WePC – PC Tech & PC Gaming News
An Open Source activist, who pursues his passion for tech blogging. In early years of his life, he worked as market analyst for a number of companies. Martin has been writing reviews and articles for a local magazine for last five years.