Ethereum: DeGods surges as season 3 is unveiled

11 August 2023

in NFT

Reading Time: 4 mins read

DeGods announced the launch of season 3 of its collection.
Volume and sales spike by 8,000% and 9,000%, respectively.

During a period marked by gradual growth and sluggish sales for NFTs, the DeGods NFT collection has notably surged ahead. This increase in the collection’s momentum followed the announcement of new additions. Given that the collection operates on the Ethereum [ETH] blockchain, did this have any notable influence?

DeGods surges in volume and sales

The DeGods NFT collection, hosted on the Ethereum blockchain, has recently undergone a remarkable surge in trading activity within the past 24 hours. As per data gathered from OpenSea’s analytics, the collection’s trading volume skyrocketed by an astonishing 8,000%, resulting in a total value exceeding 7,800 ETH, equivalent to over $14 million in monetary terms.

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Furthermore, the sales experienced an exceptional spike of more than 9,200%, showcasing over 1,000 successful transactions completed in the same 24-hour timeframe.

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According to insights derived from DappRadar, this sudden and significant upswing propelled DeGods to the forefront of NFT collections in terms of trading volume, both within the past 24 hours and the preceding seven days.

Source: DappRadar

DeGods announces season 3 of its collection

On 10 August, DeGods unveiled their plans for Season 3. The season will involve the incorporation of an impressive 20,000 new artworks. Notably, this expansion entailed the introduction of female profile pictures (PFPs) that can be swapped with the existing male PFPs.

Additionally, DeGods will be removing traits from the NFTs that the holders do not like, while concurrently introducing fresh traits to take their place. This strategic approach has been designed to ensure that the collection’s integrity remains intact without any dilution.

Rather than introducing new tokens, each DeGod NFT will now be accompanied by four distinct pieces of generative art.

DeGods has also communicated that holders interested in updating their tokens will be required to pay 333 units of their native utility token, known as DUST. This amount translated to an approximate value of $750 as of this writing.

It’s worth noting that holders unable to execute an immediate update will still have the opportunity to do so later. This is due to a gradual reduction in the cost of the update.

Impact on Ethereum NFT trade volume?

Examining Ethereum’s total NFT trade volume, according to Santiment, revealed a lack of noteworthy fluctuations. As of this writing, the total NFT trade volume was approximately $97,000.

This observation signified that despite the recent surge in volume and sales observed in the DeGods collection, its impact has not yet manifested in the broader Ethereum NFT trade volume.