Table of Contents:

· Points Parlor Shut Down, DeGods "Fundamental Flaws in Point System"

· Co-founder Leaves Team, DeGods No Longer Glorious

November 28th, Frank, the founder of DeGods and y00ts series NFT, announced on social media that Points Parlor, the point program, will be shut down and the distribution of points to DeGods and y00ts NFT holders will be stopped.

According to the market data from Blur, as of the time of writing, the floor price of DeGods is 3.4 ETH, with a 24-hour decline of 0.55%. According to NFTGO data, the current DeGodsTVL is 114,713.69 ETH (approximately 210,876,115.49 USD), with a market value of 30,419.8 ETH (approximately 62,731,476.34 USD).

DeGods, which was once popular during the last bull market, may now need to rethink the future of the NFT market.

Shutdown of Points Parlor, DeGods "fundamental flaws in the point system"

Specifically, Frank stated that the original intention of the points program was to provide more value to the community. However, it has been proven that the points system has fundamental flaws, not only in terms of product design, but also in the severe imbalance of distribution. A reward system based on RNG is needed, but it has not been widely welcomed.

If there are feasible alternative solutions, we are willing to reconsider, but it has been decided to close the points program. More than 5000 y00ts and 3000 DeGods have reached their peak, which also makes 'effectively rewarding loyal people' a challenge.

Meanwhile, Frank also mentioned that he has prepared the y00tpoints final event for the y00ts community. The points program will be officially discontinued after the event.

The community has the same comments on this, all of which believe that the suspension of the points program is the "right choice": "To be honest, this is the right choice. As far as the points system is concerned, the negative impact on user experience far outweighs the positive impact."

In addition, Baer (@BaerEvo_), a loyal NFT player and community KOL, pointed out the problems with DeGods before Frank officially announced the suspension of the points program. He stated that the DeGods project had "completely fallen into chaos". On the one hand, two co-founders (including the chief artist) have left the DeGods project. On the other hand, the people in the Discord community lacked initiative and thinking, while "people held grudges because they were detained 10 ETH". The only thing DeGods did in four months was to update the banner of the social platform.

DeGods is no longer glorious as the team loses its co-founder, Lianchuang

This also brings up issues with the DeGods community and the project itself. On August 17th, Finny, co-founder of DeGods, announced that they would be leaving the DeGods team. Although they claimed that "my departure has nothing to do with recent events, and I still have faith in DeGods and y00ts," it has still raised more questions about the DeGods project within the community.

However, the former DeGods once became the hottest project in the NFT industry.

In 2021, DeGods officially launched with an initial mint price of 3 SOL. At the beginning, DeGods proposed an innovative "PaperHand Bitch Tax" (PHBT) mechanism, which was highly sought after by the community and drove its price up to 15 SOL. However, due to mixed opinions about the mechanism, the DeGods community later voted to cancel the PaperHand Bitch Tax mechanism.

Later on, DeGods introduced the $DUST ecosystem and DeGods staking, allowing users to obtain DUST tokens by burning NFTs and staking DeGods. Through this mechanism, people are incentivized to hold or burn their DeGods.

After the mechanism went live, users staked 50% of the total supply of DeGods within 24 hours. Soon, during the explosive phase of Solana NFT, DeGods had its moment in the spotlight and became a well-known blue-chip project on Solana, with prices rising over 300 SOL.

However, later on, the market gradually declined, and DeGods launched the second season project y00ts in August 2022. y00ts proposed the ⓨ mechanism, a way similar to copyright ⓒ, applied to the features of y00ts, and charged a 5% copyright fee each time a certain feature was sold.

September 2022, DeGods also attracted the attention of the NFT community with a price of over 7000 $SOL. According to the DeGod NFT project transaction data, DeGod #270 was sold for 7033.3 SOL, equivalent to about $225,000, which also set the highest transaction record for the series so far and was one of the most expensive digital collections sold on the Solana chain at the time.

This continuous innovation ability allows DeGods to remain relatively strong in the NFT market until Solana is affected by the FTX collapse, causing SOL prices to plummet and activity to decline. After a vote, DeGods officially opened the migration to the Ethereum network in March 2023, while y00ts migrated to Polygon.

Related reading: "DeGods plummets overnight, NFT narrative at full throttle but unable to stop death spiral."

Currently, DeGods seems to have lost its appeal to the community in the face of narrative exhaustion and existing flaws in its mechanisms. This is also a microcosm of the current state of some NFT projects: when the hype subsides, what kind of story can NFT still provide for the community?

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