Solana’s Most Polarizing NFT Collection Enters “DeGod Mode”, Up 179% This Month

DeGods, the iconic Solana NFT collection that people love to hate, appears to be proving its naysayers wrong.

Bridging back to Solana after spending over a year in Ethereum’s NFT scene, many considered that DeGods would never return to prominence. However, recent market dynamics suggest that demand for DeGods is still alive and well on Solana.

DeGods Reclaim 35 SOL Floor

With the DeGods community resurfacing in force across social media timelines, interest and buy pressure have returned to the charts. After trending down for weeks, the DeGods' floor price has sprung back to life.

After opening August trading at a local bottom of 12.6 SOL, the DeGods collection has enjoyed a confident rally. Up 179% since the beginning of the month, DeGods are currently exchanging hands at over 35 SOL.

Increasing demand for DeGods has also led to a reduction in listings. At press time, around 7.02% of all DeGod NFTs are listed on marketplaces like Tensor. This represents a 1.19% reduction when compared to the beginning of the month, suggesting that the DeGods community is eager to hold onto their assets, despite surging floor prices.

Additionally, the DeGods collection has topped Solana’s 24-hour NFT trade volume for several days, indicating high demand and market liquidity.

What’s behind DeGod’s return to form?

A New Social Experiment

Inspired by Solana’s thriving meme economy and the prevalence of ‘CTOs’ (Community Takeover), DeGods founder Frank conceived a creative approach to realigning the wider DeGods community. 

Aiming to resolve the fragmentation issues that were causing dissent and apathy amongst holders, the DeGods team decided to shift their ecosystem’s entire network into a singular Telegram group. Aptly named ‘DeGods HQ’, the group is now the central source of community engagement for all things ‘De’. 

Adding more fuel to the fire, Frank also promised to burn 9 DeGod NFTs at regular intervals as the collections market capitalization grows. According to Frank’s 𝕏 timeline, 4 DeGod NFTs have been permanently removed from supply through this experiment.

With a realigned vision, DeGods and y00ts (now playfully called ‘Fuzzy DeGods’) have swarmed social media. 

Solana’s most polarizing NFT community has leaned into their growing hype, creating the typical content that made them one of the most recognizable cultures on the network. 

Solana NFT Markets Maintain Momentum

While meme coin mania has attracted the bulk of attention and liquidity onchain, Solana’s NFT scene continues to perform admirably against rival networks.

Based on nftpulse data, Solana remains the most popular blockchain for trading NFTs. With over 100,000 active accounts buying and selling NFTs on secondary markets every month, Solana has edged out competitors like Polygon and Ethereum.

However, while Solana boasts the highest number of active accounts, Ethereum has managed to reclaim the trading volume crown in recent weeks. Based on Tiexo data, Ethereum currently captures 39.78% of market share on a monthly timeframe, compared to Solana’s 21.06%.

With DeGods returning to prominence, Solana’s NFT communities eagerly await the trickle down effects of increased attention.

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