What are y00ts NFT, collection of 15.000 PFP avatars on the Solana blockchain? | PortalCrypto

y00ts is a collection of 15.000 yeti-like PFP avatars made by the founding team of DeGods and is one of the most popular NFT projects in Solana. The project received submissions from a number of high-profile people, including NFT influencers and football great Wayne Rooney.

What are y00ts?

y00ts is a collection of 15,000,000 NFTs on the Solana blockchain from Dust Labs, which is the team behind the DeGods NFT collection. The y00ts NFT collection features a single image of a sheep with multiple metadata overlaid to give y00ts its characteristics and attributes. Previously, y00ts NFT was known as Duppies, whose original plan was to become the extended collection of the DeGods ecosystem. yXNUMXts has undoubtedly emerged as a notable standout in the NFT space, especially since it has garnered interest from a number of celebrities including Allen Iverson, Howie Mandel, Wayne Rooney, and more.

In July 2022, the project took an unexpected turn when the team announced the Duppies mint in late July or early August. However, a Twitter hack ruined the plans and the team said: “We tried shit. We learned shit. Now we’re trying some new shit.” It seems the creators of DeGods got it right when they lured DeGods holders and NFT enthusiasts alike with a comeback. There’s now a solid community of 15,000 eccentric 3s on Web00 who participated in the yXNUMXts project using an innovative academic system and a transparent currency list.

What makes this collection so special?

What makes this collection so special is the “y00ts white paper”, which is its own version of the copyright and license. Rather than a central entity controlling the project and its intellectual property rights, the NFT collection will have a record of who is authorized to use the intellectual property of the NFTs. The collection has also gained popularity for its “uniqueness” as it has a quirky “bags” feature where the team vets and selects people who have applied and whom they deem eligible enough to be whitelisted from the collection. collection. .

Copyright, intellectual property and y00ts

The real differentiator of the y00ts collection is their approach to the rights and permissions they wish to grant NFT holders. The current setting for most NFT collections is that owners only protect the intellectual property rights in the NFTs they own. The alternative is CCO, or creative commons, which realistically means that an NFT holder’s assets are stored in the public domain. When NFT holders want to build businesses, sub-communities, fan art, and more around their NFT, it often increases interest and, in turn, increases the value of the NFT. However, the current configuration does not support the idea that the whole collection benefits from it.

The simplest way to think of the system described by y00ts is that ⓨ is used as a means of registering a copyright, with an NFT collection being the regulatory body. Each collection would have its own registry ⓨ, where it would be easy to track who is authorized to use NFT IP. This allows projects to approve and deny usage requests at Web3 speed.

The team behind the project claim that y00ts is the testing ground for this new system ⓨ and are also transparent in their whitepaper that “this is a rough approximation of how we think this system could work”. Open to criticism and to see how it goes.

Projects and workflows for y00ts

The main points of the project, the process flow and how the team sees it working are below:

  • Licensees may also hire artists to perform commissioned work for them.
  • Artists own the intellectual property of their work and receive a % of the royalties
  • Owners can purchase community-created traits in the store. Artists can also set strokes to free if they wish.
  • Holders can only apply one custom feature to their NFTs per month. Custom functions cannot change the shape/size/name of the function. A t-shirt cannot be exchanged for a fur coat (it must also be the same size) This will not change the metadata.
  • Community members can officially create and register sub-communities/sub-DAOs. They may charge SOL for entry. Earn a percentage of royalties on all sales to your sub-communities

How to ⓨ earn money with creators?

With the ⓨ listing, the y00ts team believes they can unlock multiple layers of monetization for each stakeholder involved. Independent and 1/1 artists can:

  • make individual hits and load SOL or DUST for them
  • create fashion brands within the collection (covering multiple traits)
  • perform paid (or free) commission work for licensees
  • collect money forever via royalty%
  • Artists are encouraged to sell their work on the y00ts store because if they get their ⓨ listing, they can receive royalties on their work after the initial sale.

y00ts store st0re

The y00ts store will be a marketplace for custom y00ts features where anyone can submit customizations of any of the original y00ts features for approval.

Approval criteria:

  • must fit in the same space as the original stroke (cannot turn a t-shirt into a fur coat)
  • must be identifiable by the original metadata tag (a hat cannot become a crown)
  • no hate speech or pornographic images
  • no direct use of existing copyrighted intellectual property
  • meet a quality standard to match the collection
  • Once approved, the submitting individual(s) will have the ⓨ for the trait(s).

Having the ⓨ of a feature allows you to:

  • set dash price in y00ts store
  • set available trace supply
  • sell it all ⓨ to someone else
  • collect 5% royalties on each dashboard sale

No one else can copy this trait/style/theme/brand. If derivative products try to register in the market, they will not be approved. Additionally, the team states that no user-generated features will be added to the y00ts store after six months. At this point, creators can separate the y00ts into their individual parts. You can sell your limited stock sweatshirt separately or trade it in for another trait. Going forward, all new features added to the y00ts store will be through limited sourcing collaborations with major apparel and lifestyle brands.

Customizing y00ts

To obtain customization rights, holders must stake their y00ts for 30 days, then a ⓨ token is added to the y00t metadata.

  • There will be a maximum of 6 ⓨ that any y00t can hold
  • Example metadata: “ⓨ Tokens: 1”

Holders can use this ⓨ token to apply a custom ⓨ feature from the y00ts store to their y00t. Notably, the new feature must match the attribute that y00t has in its metadata. For example, when exchanging a black hoodie for a custom gold sweatshirt, the metadata remains the same: hoodie. Once the ⓨ token is used, y00ts holders can still trade any trait back to the original y00t base.

But they will have to wait another 30 days of staking before applying any new custom feature from y00ts store. Due to the staking requirement, holders should be careful which feature they choose. Notably, if a holder never uses the ⓨ token, y00t will simply collect them. As a result, NFT can potentially be sold for a premium with the attached tokens.

Can I make money if I’m not an artist?

Imagine if Eminem and Snoop Dogg were rewarded for the value they brought to the entire BAYC collection and its unique features. These two mega stars holding BAYC add to the appeal of the collection. However, the two celebrities are not compensated for this marketing assistance. Instead, they are free to use whatever BAYC they have in their creative work.

The real power of ⓨ is that it can lead to the creation of small clubs within communities. Someone who wants to create a sub-community can use the y00ts store to find an artist and order a custom set of strokes with their logo or emblem and register the club with ⓨ.

Any active member of the community can create their club based on common interests, memes or anything else. The key is that since they have the ⓨ in the feature set, they can monetize that sub-community. They can collect royalties on every y00t they sell with one of their features. They may also charge an upfront cost of SOL or DUST for features.

How much will y00t NFTs cost?

The number of NFTs in the y00ts collection will be 15,000,000 NFTs, and to create a y375ts NFT, users will need the native token of the DeGods ecosystem, DUST. Comments from the founders on Twitter suggest that 00 DUST tokens will be needed to mint a y375ts NFT. At the time of writing, 1320 DUST costs around $36, or around 1320 SOL.

DUST token and where to buy?

DUST is a token issued on the Solana Blockchain, started with zero supply. DUST can only be hit by burning NFTs or betting a DeGod NFT. As a native token of the DeGods ecosystem, users can earn DUST by betting on DeGods NFTs. However, the token can be purchased on some cryptocurrency exchanges, which are: MEXC, Jupiter, Serum DEX and Orca.

Conclusion

The project y00ts could potentially put Solana on the map when it comes to NFTs as he still plays a secondary role in NFT-based collections. Ethereum. Additionally, y00ts intends to implement its sensible version of NFT copyright and ownership, which could yield some exciting results as NFT creators and admirers continue to push the boundaries of technology that can be exploited.

* PortalCripto values ​​the quality of the information and attests to the verification of all the content produced by its team, emphasizing however that it does not make any type of investment recommendation, not being responsible for losses, damages (direct, indirect and accessories ), costs and loss of profit.

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What are y00ts NFT, collection of 15.000 PFP avatars on the Solana blockchain? | PortalCrypto


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