NiftyNoon: Welcome to Degods Season 3

After endless hype and anticipation, DeGods Season III is finally here (August 10, 2023)

Nifty Thought

• DeGods has finally launched season 3. While it was not the blockbuster event people were hoping for, the price action has only been moderate negative (in NFT terms) following the announcements. First, y00ts is leaving Polygon to join its DeGods older brothers on Ethereum. This move has resulted in the DeGods team returning the $3 million USD grant originally given by Polygon Labs. For the DeGods themselves, DeGods has announced upgraded season 3 artwork and female counterparts for every DeGod. This non-dilutive drop essentially upgrades existing DeGods rather than give them another companion collection.

• Reactions to these announcements have been mixed. In the coming days I will speak more on these specific announcements. From a high level however, it is clear that the DeGods team took a very conservative approach with Season 3. They did not rock the boat too much and therefore risked very little. However, they also did not make the large strides people typically expect from NFT projects. While this enabled the project to prevent a price disaster akin to Azuki, it did nothing to help move the DeGods market position up. Ultimately, this conservative approach may have been the safest bet in the short term. The DeGods collection is highly leveraged and fragile. The risk of loan cascades could truly collapse the floor price in the short term.

Highlighted News

• @DeGodsNFT announce DeGods Season III:

  

  https://twitter.com/degodsnft/status/1689541181146009600?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• y00ts announce they will be migrating to Ethereum:

  

  https://twitter.com/y00tsnft/status/1689404417072889867?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Bored Ape Yacht Club announce first round of MBA licenses have been accepted:

  

  https://twitter.com/boredapeyc/status/1689445339202281473?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Project and Community News

• Base Day One and other onchain Base projects take over the@ourZora homepage:

  https://twitter.com/buildonbase/status/1689387201434411009?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Introducing the SquiggleDAO Membership NFT Card:

  https://twitter.com/squiggledao/status/1688943744853123072?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• The Infinity collection is live:

  https://twitter.com/jalil_eth/status/1688723975940284416

• @CozomoMedici and @deekaymotion are launching the first ever artwork on Base:

  https://twitter.com/cozomomedici/status/1689398632733409284?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• The Cameras mint details:

  https://twitter.com/0xdgb/status/1689242838171619328?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Jack Butcher shares penguin opepen:

  https://twitter.com/jackbutcher/status/1689282857766641665?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Fireblocks research team has uncovered BitForge:

  https://twitter.com/fireblockshq/status/1689389347274162178?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Guy who sent 2500 ETH to the burn address a few days ago also just sent a Bored Ape, a Mutant, and a BAKC today:

  https://twitter.com/ashrobinqt/status/1689293373369143296?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• CryptoPunk #9280 has a new bid for 1,300.00 ETH (2,403,465.93 USD):

  https://twitter.com/punkssalesbot/status/1689326669407072256?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 3,967 ETH (▲ 6.84%)

• OpenSea ETH Daily Volume: 1,515 ETH (▲ 3.48%)

• BTC: $29,531.28 (▼ 0.77%)

• ETH: $1,851.42 (▼ 0.39%)

• Solana: $24.34 (▼ 0.61%)

• Polygon: $0.69 (▼ 0.88%)

NFT Daily Winners:

• 👩🏻 Milady Maker: 4.18 ETH (▲ 21.51%)

• 🏴‍☠️ Captainz: 4.49 ETH (▲ 4.42%)

• 🌈 Doodles: 1.61 ETH (▲ 2.62%)

• 🧟 Mutant Ape Yacht Club: 5.73 ETH (▲ 1.40%)

• 🐧 Pudgy Penguins: 4.14 ETH (▲ 1.22%)

• 🦧 Bored Ape Yacht Club: 29.35 ETH  (▲ 0.82%)

• ⛩️ Azuki: 4.82 ETH (▲ 0.78%)

• 🚬 CryptoPunks: 47.48 ETH (▲ 0.44%)

• 🦉 Moonbirds: 1.57 ETH (▲ 0.26%)

• 🏳️‍🌈 Chromie Squiggles: 10.49 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.81 ETH (► 0.00%)

NFT Daily Losers:

• ⛰️ Otherdeeds: 0.59 ETH (▼ 0.37%)

• 🧬 Clone X: 1.45 ETH (▼ 0.82%)

Notes:

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