March 21, 2023

This post was originally published on bein crypto

The much anticipated y00ts non-fungible token (NFT) collection by Dust Labs has gone live after an initial blocker bug delay.

The team behind the DeGods NFTs launched the collection on the Solana blockchain after the blocker defect, which is generally known to break the software or create security-related critical errors disabling the primary features of the program, was tackled.

y00ts creators raise $7M

Despite the hiccup, Dust Labs has confirmed that it has raised $7 million in a strategic round to build out the $DUST ecosystem. According to reports, the investment was divided 50/50 between the company’s stock and its DUST coin.

The participants in the funding include Foundation Capital, Solana Ventures, Metaplex, Jump, FTX Ventures, and Chapter One.

Users will require the DUST native token of the DeGods ecosystem in order to mint a y00ts NFT. According to DappRadar, the number of NFTs in the y00ts collection will be 15,000.

It appears that 375 DUST tokens will be needed to produce a single y00ts NFT based on the founders’ tweets. At the time of writing, one DUST is $2.22, with the protocol recording a $9,322,795 trading volume during a 24-hour period. The market price of 375 DUST comes to $832.50. 

The users that have been approved, via a scholarship, on the y00tslist handle will have to use the required DUST to mint the NFT. Notably, DUST can only be minted by burning NFTs or staking a DeGod NFT.

At press time, OpenSea data shows that 5,600 owners minted a total volume of SOL 140,400 at a floor price of SOL 144. Y00ts NFTs will trade on Solana’s secondary NFT marketplaces, like Magic Eden and OpenSea, after the limit has been subscribed.

Meanwhile, among Solana NFTs, DeGods seems to be trending at the top spot on at a floor price of SOL 450.

Source: OpenSea


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Shraddha Sharma

Shraddha is an India-based journalist who worked in business and financial news before diving into the crypto space. As an investment enthusiast, she has also has a keen interest in understanding crypto from a personal finance standpoint.

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