Before starting this article, I would like to thank all of you who are taking time out of your life to visit this website and read what I write about projects as per my understanding.
You guys might be wondering why this sudden reflection of gratitude, well this is the 50th article that will be posted on my medium.
I was looking around the space to find that one project that deserves to hold the tag of the GOLDEN JUBILEE article of my medium. And what’s better than a project which has taken everyone’s timeline by storm and has brought positive vibes and sentiments all across the Solana NFT ecosystem.
“y00ts” (you guys very well know what it is, but just for old time sake), is the 2nd project launched by the team of Degods, a project which has been crowned the undisputed project in the Solana NFT Space collectively by everyone who is present in this space today.
This last paragraph was enough for me to convince you to max-mint this project out, but we will dive into what is there in the project except for an OG team.
Before that, the mint information of the project is as follows:
Cost: 375 $DUST
Date: 02nd September 2022
The one thing about your NFT that you are really proud of while putting it as your profile picture across all of your socials and making sure that other people in the space recognize you by that jpeg only is that you own that piece of Jpeg, it’s yours by all rights and there is only 1 such NFT ever created.
But if we look at the bigger picture, much beyond the profile picture aspect and the flex associated with it, what else can you do to earn some more benefits from this digital asset of yours?
Well, y00ts are here to provide a solution to that, with ⓨ as their symbol
But what is this ⓨ?
ⓨ is a symbol ensuring copyright & ownership for NFTs
And what benefits this strange-looking symbol holds?
The answer to this question is…
y00ts st0re is a marketplace of custom-made y00ts traits where individual artists will get royalties from the sale of the traits that they created.
This aspect of the store is somewhat related to what has been happening in the space currently. Remember when “Gothic Degens” were getting a crazy amount of hype because they were launching a collaboration with different projects in the Solana NFT Space and there was a completely new collection launched after every collab which combines the traits of both the NFTs.
Now let's suppose you are an individual artist, and you want to customize your y00ts NFT traits into something new and exciting which makes it stand out in the rest of the 15,000 collections, and after you did it, imagine getting DMs of people asking you to share the same traits with them.
Now your trait is something that other people want but since you are the one who created it, you hold the copyright of that trait and you will take the ultimate decision to sell that particular trait or not.
Not just this but…
Now, what if you are not an artist?
There are two sides to this story.
Firstly, you still can get an idea of adding a specific trait to your y00ts NFT which can make it unique and appealing. After finding out something of that sort you can hire an artist who can do the rest of the job for you.
Adding to this you can even create a Sub-DAO/Community revolving around that specific trait. And we all know the power of sub-DAOs in this space, especially after the launch of Okay Bears and Primates.
Now in order to be in this Sub-DAO/Community people have to buy the traits from the y00ts store which will provide you with a source of income coming from your very own digital asset.
Now we have discussed a lot of information about what you can do with all the customization, but the other question is…
How will you be eligible for doing such sort of customizations?
And there is an easy answer to this.
Drum rolls, please……
It is STAKING.
After staking your y00ts NFT a “ⓨ Token” is added to your y00t’s metadata every 30 days, and there will only be a maximum of 6 ⓨ tokens per NFT that can hold.
The catch here is that once you swap your original trait with a customized trait, you won't be able to go back for another 30 days and even after that you have to spend 1 ⓨ Token.
However, if you have never used any of your tokens, you will have an option to sell your NFT at a premium, so the longer you stake the more exclusive the NFT will become.
All the things we talked about weren’t the only ones the y00ts team is bringing to the table, they are also bringing inclusivity.
y00ts are giving people like you and me who might not have such great networks in this space and neither do big numbers on our socials to make a claim, a chance to be a part of the project.
There are 3,500 spots which will be given via the y00ts scholarships to people who have done something in this space to make it better.
To conclude, I would say y00ts is the only thing we need in this NFT bear market. There is no other project currently in work which has the capacity to bring back the volume on Magic Eden.
If you have the y00tlist you know what to do, and if you don’t have it don’t worry King/Queen, you fought well in the scholarship arena.
As always DYOR.
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