The Rise of DeGods
Introduction
NFT market is rising. On Solana Magic Eden provides the most popular place for selling and purchasing NFTs.
One of the most valuable NFT collections on Solana is DeGods. DeGods is deflationary collection composed of 10,000 virtual gods showcasing artistry with their creative outfits and eye-feast colors.DeGods holders can stake their NFTs and earn $DUST.
Recently, a new relevant project has been launched; DeadGods. Using $DUST, DeGods holder can upgrade their DeGods NFTs to DeadGods.
This dashboard sheds some lights on the rise of DeGods by quantifying and visualizing:
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sales volume and unique wallet purchases of DeGodz since January 1st on Magic Eden.
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identifying certain traits that have become more popular over time in anticipation of DeadGods.
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investigating who is swapping for $DUST on Jupiter
Finally, the dashboard provides insights into the price of the DeGods collection and $DUST when DeadGods launches on March 31st.
This graph shows how daily number of purchasers and sales volume has been changed over time.
AS can be seen while the number of purchaser is slightly decreasing, the daily sales volume is sharply increasing.
please note: the size of markers represent the sales volume.
Traits
There are eight attributes that can be changed in DeGods NFTs:
Backgrounds, clothes, eyes, head, mouth, skin, neck, specialty.
Each NFTs for some of these has its own choice. The graph below shows how the daily number of attributes for average NFTs has been changed over time.
Interestingly, we can see that the average attributes is declining.
The graph below shows that what traits are the most and the second most popular traits each day.
Note: The larger marker size represents rank 1 and the smaller rank 2.
We can see that some traits became more popular than the other approaching 31st March.
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Turquoise skin, Deep ocean blue background and Lavender Stripe skin are increasingly popular traits.
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Red and Purple Background is loosing their earlier popularities.
The graph below shows the correlation between swap amount and purchase amount.
AS can be seen the higher investment in purchasing DeGods led to the higher swapping of $DUST.
Discussions
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The volume of Degods sales is sharply increasing.
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The average number of traits of DeDogs NFTs are declining over time. It can be explained by two mechanisms: 1- as the price of DeGods are rising, users tend to buy relatively cheaper NFTs with lower specific traits. 2- Users tend to buy more simple DeGods as they are able to upgrade their NFTs later this week.
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The most popular traits concentrates on Skin and Background. Deep ocean blue background and Lavender Stripe and Turquoise skin are dominant traits.
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Users with the higher investment in DeGods is more likely to swap for $DUST rather than average users. It is obvious that these investors have plan to upgrade their DeGods to DeadGods and need more DUST to do so.
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The price of both $DUST and DeDogs should be rise up towards the end of this week (the last week of March) based on demand and supply simple law.
It will cost 1000 $DUST per DeGod if a user wants to upgrade. Therefor, we will experience and increase in demand of DUST after the launch of deadgods. There won't be enough $DUST for everyone to upgrade their DeGod for a while. Principally , when demand exceeds supply, prices tend to rise.
The demand of DeGods will be also increased as for having deadgods, users need to have degods. I would expect for short term both DUST and DeGods price will be bullish.