News Report
October 11, 2022

Solana-based DeGods NFT collection becomes royalty-free

In Brief

DeGods NFT creators switch from 9.99% royalties to 0%

“Y00ts” NFT collection will also undergo the change

Solana-based DeGods NFT collection becomes royalty-free

Solana-based NFT project DeGods becomes royalty-free. On October 9, DeGods shared a tweet announcing the project’s update as well as its transfer to proof of work. 

From now on, the creators will receive 0% of royalty fees instead of the 9.99% they previously got. Notably, the cut of the sale the creators previously got was slightly higher than the average royalties among NFT collections. 

We still believe that royalties are an incredible use case of NFTs. We will continue to support creators that want to find solutions to enforce royalties. We believe this is the best decision for our business at this time. It’s about time we take a new approach. 

DeGods said about the update.

Interestingly, DeGods did not share the exact reason behind this decision to go royalty free. 

DeGods is a Solana-based collection of 10,000 PFP-styled NFTs first launched in October 2021. As of October 11, the average sale price of a DeGod NFT is 8.4 ETH (approximately $10,360 at the time of writing), with 1 million SOL traded. The project also features its utility token, $DUST, which is currently worth $1.29, as the price decreased by 4% after the royalties announcement. 

In September, the creators of DeGods introduced a new NFT project, “y00ts.” Individuals willing to receive access to the allowlist had to fill in a question form with their data and answer several questions. Following this, the project’s creators chose who was worthy enough to participate in the mint, stating that they aim to build a community of “the coolest people in Web3.” According to the statement, y00ts will also undergo royalty updates. 

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
HyveDA Unveils X Committee In Partnership With Lido, Lists wstETH As First Collateral
News Report Technology
HyveDA Unveils X Committee In Partnership With Lido, Lists wstETH As First Collateral
November 21, 2024
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
News Report Technology
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
November 21, 2024
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
Opinion Lifestyle Markets Technology
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
November 21, 2024
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
News Report Technology
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
November 21, 2024