Our Blue Chip NFTs 101 series is now approaching six months in the making, and we’ve taken healthy deep dives into some of the biggest NFT projects in the market; while everyone has heard of Bored Apes and CryptoPunks, we’ve taken the time to provide hefty due diligence around other major blue chip projects like World of Women, Art Blocks, DeGods, Moonbirds, and more.
We’re back in the mix and looking to keep you ahead of the curb as an upcoming mint for NFT project ‘y00ts’ has generated so much traction and talk, we suspect it could easily be a blue chip in the making. It’s invite-only whitelist thus far, which brings all the pros and cons of exclusivity, and most notably the hype and anticipation that limited access can bring. Let’s take a deep dive into y00ts and what we’ve seen thus far.
DeGods to y00ts: Blue Chip Status Is Really So Easy!
It’s been over three months since we published our Blue Chip NFTs 101DeGods is the Solana standout project. It helped push the blockchain up to #2 in the NFT marketplace (second only to Ethereum). DeGods had a floor price of approximately 200 SOL at that time (roughly $15K based on current SOL values). Despite an ongoing bear market for NFTs, today the DeGods collection stands at nearly a 600 SOL floor, which at today’s SOL prices, equals almost $20K. DeGods are enduring the storm, so let’s not worry about bear markets.
DeGods fits into this equation? DeGods’ team is similar to y00ts. Both projects are spearheaded by a popular NFT figure. Frank. We’ve taken the time to review DeGods at length, so let’s shift back to y00ts; is Frank simply a community mastermind who understands the secret sauce of NFT projects, or is DeGods the exception to the rule, with y00ts riding the hype train? It will take time to see, but for now we can look objectively at what has brought the excitement to where it is today. DeGods exceeded every expectation this year and securing the position of top Solana NFT projects with very few rivals.
Solana (SOL), a leading NFT-blockchain, has shown real promise. Can y00ts secure #2 and make Solana contest Ethereum?TradingView.com: Source: SOLUSD | Source: SOL-USD on TradingView.com
Mint Approaches: Current Trends
What’s the catch around all of the current hype? There have been few NFT projects that received this much attention before mint. You could even argue this project will become the most hyped NFT project ever on Solana’s blockchain. Although the project is scheduled to go to mint by the end of the week, September 2, according to the exact date, the buzz has been fuelled over recent weeks through a whitelist process. The window closed last weekend, but y00ts have been announcing major whitelist spots to recognizable talent and influencers – which is always bound to be a controversial strategy as normies feel left for the dust with public mint. Thus far, however, it seems to have paid off for the project, who have also accepted handfuls of applications from non-recognizable names – even in crypto.
Meanwhile, the project’s vision outlined in the whitepaper is to challenge traditional lines of thinking around NFT intellectual property. The project looks to integrate streamlined IP utilization tools that are owner-first, and build out a storefront that allows users to custom their NFT assets at their discretion; in short, it’s a roadmap for what the project calls “y00topia.”
In the meantime, y00ts has filed a trademark registration earlier in the month. This can give you additional perspective. This filing covers a wide range of uses, such as broad software products, NFT-related marketing and retail efforts, NFT asset classes and NFT marketplace classes. Entertainment and education are just a few examples. Although projects and companies tend to overindex when applying for trademarks, this move signals that y00ts want to be big.
Keep watching to find out if DeGods is going to be replaced by y00ts on Solana’s top spot.
Featured image from twitter.com/y00tsNFT, Charts from TradingView.com This content was not written by or associated with the mentioned parties. This content is not meant to provide financial advice. This op-ed is the author's opinion and does not necessarily represent the views or Bitcoinist. Bitcoinist advocates creative freedom and financial independence. *The writer of this content does not own any of the NFTs mentioned in this article. This information is intended solely to be educational and informative.