Degenerate Trash Pandas is a collection of 20,000 3D funky-looking scavenger pandas whose main goal in life is to scavenge in the blockchain realm, which launched its minting recently.
In fact, you can now buy your very own Trash Panda on Solanart and Magic Eden.
We are seeing the beginning of a major shift in the non-fungible token (NFT) arena as art-based NFTs move from aesthetics and purely PFP (profile pic) to projects with amazing artwork and real utility, the best of both worlds, which would give them an edge in a highly saturated and competitive market.
The new innovative NFT collection known as Degenerate Trash Pandas knows this very well as each of its characters can be used in an immersive game, gives its community more power, and above all, can work side by side with Solana‘s biggest NFT project, Degen Ape Academy. All Degen Trash Pandas are considered living entities on the Solana blockchain and will have more attributes and experiences over time.
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What are Degenerate Trash Pandas?
Degenerate Trash Pandas (DTP) is a collection of 20,000 3D funky-looking scavenger pandas whose main goal in life is to scavenge in the blockchain realm.
DTP has a close relationship with the highly successful NFT project, Degenerate Ape Academy, as anyone who owns a Degen Ape can also acquire their very own scavenger panda.
Every holder of unlisted Ape Degen will receive one Candy Machine Token for every Ape they hold, which they can then redeem to acquire a Trash Panda.
What’s great about owning these two NFT creatures is that both of them can share their utility benefits, which, in the end, adds more benefits for their holders. Owners can also simultaneously receive the Ape’s and Trash Panda’s unique rewards, which can accumulate and result in bigger perks.
Trash With Frens: A DTP NFT Game
This game is exclusively made for Trash Pandas and Degen Ape holders, allowing players to use PANDA Token, which will serve as the medium of exchange inside the Trash With Frens NFT game.
In this game, both Pandas and Apes have to find, or to be more specific, to “scavenge” collectible map tiles to find treasures that can be utilized on mini-games.
Another exciting part of this game is that these tiles would also have explorable buildings where more valuable treasures are hidden waiting to be found by competitive players. Players must also have the skills to use an appropriate combination of Pandas and Apes to locate treasures and battle enemies on the way successfully.
Players can also combine tiles across various wallets to increase the efficiency of their scavenging. What’s more, these map tiles are configurable and can be created through a creator user interface where builders can generate their own NFT map and sell it.
How Did DTP Set An Example To The NFT World?
When Degen Trash Panda was launched, one of the most notable things, aside from its impressive 3D artistry, is its system in the collection’s bidding process. The system, which is called Fair Launch Protocol or FLP, has made it possible for participants to bring down the cost of each Trash Panda to 0.1 SOL, which made the scavenger Pandas accessible to more bidders.
How Does FLP Work?
The concept of the Fair Launch Protocol is quite confusing to many, but thanks to a thorough explanation made by @sainteclectic, the process of FLP was greatly simplified, enabling more people to understand it better.
FLP is a “gated” process that implements three phases to select participants that can enter the lottery and purchase an NFT. Anyone who can pass all these phases and win the lottery will have the opportunity to purchase a Trash Panda at the “median price,” which will depend on all the participants.
Here are the things that each participant will have to go through in each phase:
Phase 1
Participants would be allowed to bid the price they are willing to pay for a Trash Panda, and the “median” of the collective bid will set the price of each NFT.
The “median bid,” also called the middle bid, is the point where half of the bids are lower and 50% is higher. To make it more clear, let’s say that a bid has a total of 15 bids, then the median bid would be the 8th bid.
Bidders were prohibited from viewing the current median bid when they were bidding for Trash Pandas.
Phase 2
The median bid will finally be revealed, and whatever middle bid the system has determined will be the official price of each NFT asset. If participants made a bid that was less than the median, the system would allow them to adjust their bid to join in the lottery. But if they bid greater than the median, they can still withdraw their funds.
Phase 3
Participants who will match the median price can finally join in the lottery, and winners will then acquire an FLP token, meant to be exchanged for a Trash Panda.
Kudos To the Degen Trash Panda Community!
The DTP project has proven to the world that a community of like-minded individuals, no matter how degenerate they may be, can, in fact, come through no matter how “degen” its vision may be. Although the mint didn’t go as smoothly as planned since minting has been paused midway, you can tell that most are happy judging by the lack of complaints on DTP’s Twitter page.
Right from the very start, the Trash Panda team has made it clear that the FLP implementation was meant to provide the community the authority to vote and decide on the price of each NFT. As a result of this experiment, the collection’s price was effectively set at 0.1 SOL, as the majority of the community leaned on this price, significantly lowering the entry barrier for new holders. As complex as FLP is, the community believed it to be the fairest way to launch an NFT mint, so they went down this route.
Conclusion
It is refreshing to see a team behind an NFT collection that focuses on the community’s welfare rather than profits. By allowing the collection to be affordable to more people, the Trash Panda team has missed the opportunity to rake in large profits, but they have set a clear and rare example to the NFT world on how a community should be treated — like a degenerate.
