Stirring interest across the NFT-verse is the y00ts NFT collection coming to Solana. Living on the Solana blockchain is a collection of 15,000 NFTs that is developed by the team behind the oh-so-successful DeGods collection.
The promise of the team behind y00ts is to build a community of 15,000 of the coolest and “goated” people in Web3 by using a transparent mint list and an innovative scholarship system, which has been deployed in the minting of t00bs, its minting token. The team wants to test drive the idea of new ownership and copyright system for NFTs, calling then y – a replacement for the commonly seen copyright symbol c.
Candidates have already filled the waiting list even though the collection has not even launched yet (only the toob has been released so far). Successful applicants will receive a notification via their associated Twitter account. The dedicated Twitter page takes pride in providing transparency on all successful applicants. Although having some cool features, the y00ts website is simplistic and stripped back. For instance, clicking the Y00TS image on the page reveals alternate Y00TS characters and logos.
Initially, y00ts was not meant to be the name of the new collection. What the DeGods developers planned was a project called Duppies—an expansion collection within the DeGods ecosystem. The Duppies did not go far enough, the creators realized. So they rebranded to y00ts, which stuck.
According to the Y00ts white paper, the company aimed to be “a common-sense version of ownership and copyright for NFTs.”
Despite a few differences, the founders intend for y00ts to function similarly to regular copyright. Handling intellectual property rights is typically done by one entity in a centralized manner. The new NFT collection will function as a governing body to do that job.
Intellectual property rights (IP) will not be specific to one holder with y00ts. Instead, everyone can see who is approved to use each NFT’s IP because it will exist in a registry listing. Y00ts will be a fascinating test of this new licensing implementation method, although nobody can be sure if this founding vision will catch on.
Kevin, the CEO of Dust Labs, and Frank, the founder of DeGods and y00ts.
The Solana Project DeGods is also a community of other innovators, developers, artists, and creators. The Solana Project DeGods is a digital art collection. A software company specializing in benefiting holders by raising NFT value is Dust Labs. It is hard to think of a better founding duo considering the success of both Dust Labs and DeGods.
What is Y00TS NFT?
Y00ts is An NFT collection on the Solana blockchain made by the same developers of DeGods and Dust Labs. Duppies were the original idea before y00ts came.
In early July 2022, the team announced an expected Duppies mint around the end of July or early August. After a Twitter hack, the team announced a change of plans by saying, “We tried some sh#t. We learned some sh#t. Now we’re trying some new sh#t. “
A single image of a yeti with various metadata layered on top of it—that is how the collection of y00ts NFTs was crafted. This characteristics gave rights to the y00ts in all their full glory.
Consisting of 15, 000 yeti-like avatars, y00ts is a forthcoming NFT brand that has generated a lot of attention not only in Solana but in Ethereum circles as well. Lately, just a dozen art samples have been revealed, meeting mostly praise across Twitter. Y00ts is to be deployed as a standalone collection party, making it separate from the DeGods branding. This is partly intended to give NFT enthusiasts who are priced out of DeGods an opportunity to be part of the community.
Each y00ts costs 375 DUST tokens to mint.
By allowing users to sell and make PFPs, y00TS is considered to be a new “meta” in the NFT space. Plus, it resides on one of the fastest blockchains in the space.
There are a total of 15, 000 NFTs in this collection.
How to Get Dust
Users can earn DUST by staking DeGods NFTs as the native token of the DeGods’ ecosystem. However, if you do not have a DeGods NFT or Dust in your wallet, the token can be purchased on the secondary market.
An experimental whitelist management platform, the scholarship is. This will enable up-and-coming NFT projects to better handpick minters for their upcoming launch. Serving as a proof-of-concept, the team will test out the scholarship program on its own y00ts collection first, which it did. However, since y00ts hasn’t launched yet and only the t00b tokens have been sold, we have yet to see how this will unfold.
But allowing projects to choose the most suitable and deserving individuals to join the community during pre-mint days is how the y00ts program is designed. Before being accepted, applicants would need to provide a clear idea of what value they can bring to the table. This includes solving a few notable problems across the Solana space, particularly pump and dump problems and botters, because each minter can be verified.
With the current whitelist setup, many NFT projects have faced great problems, crashing floor prices in the process. Then whales would buy up whitelisted accounts or find other methods to mint more. They would dump all their minted NFTs on the secondary markets in the process. It is a goal of y00ts to fix those.
If it succeeds, projects may be able to form better communities than before. Y00ts will earn more because many projects will want to use their platform.
Is Y00TS NFT a Smart Buy?
You cannot be sure that your NFTs are excellent long-term investments unless you can foretell their future as a fortune teller. An informed guess can be made by anyone who is paying attention. Why?
- Y00ts is backed by an impressive team with a good track record of success.
- The most eagerly awaited event in NFT history is its launch.
- bound to start the endeavor on the right foot with its curated community of scholarship recipients.
- The collection size is 15K yet the floor prices remain above 100 SOL.
- Up to six months is the allowable time for users to be able to make fresh traits.
- There are several ways to make a lot of money for both non-artists and artists.
Another reason for optimism is that Dust Labs recently raised $7 million, which is too large to include in the bullet list. The funding round saw investments from Solana Ventures, Chapter One, Metaplex, Foundation Capital, Jump Capital, and FTX Ventures. A huge part of the confidence among these investors is a belief in your future success.
Y00TS has the potential to be a game changer in the world of NFTs, not just in Solana, but in Ethereum as well. Its insistence on creating a great community from Day 1, its novel approach to managing intellectual property rights, and its singular focus on PFPs made it stand out in a saturated field.