New NFT sensation delivers on hype and opens doors for new web3 startup
The hype for DeGods leader Frank’s second project y00ts was very high and the leader and his community delivered on that hype with millions in sales, enough for the young leader to get the ball rolling on its very own web3 startup.
The launch last night was smooth as DeGods holders and those on the yootlist or “scholarship” minutes their “toobs” which can be burned for a y00t or kept. Currently the floor for the toobs sits at 144.9 Sol and rising. The secondary market has seen the NFTs sold at a very high premium over the price of mint.
Dust Labs is the web3 company tied to y00ts and DeGods. The company just announced that it has raised 7 million in funding.
Dust Labs was created by kevindegods who is a holder of both a DeGods and a y00ts. The seed round was joined by Chapter one, Foundation Capital, Magic Eden, Hello Moon, Big Brain Holdings, Unlock, Metaplex, FTX Ventures, Jump capital, Jupiter, Hyperspae, Solana Venures, MystenLabs, and Cymbal.
DeGods is currently the most valuable pfp project on the Solana blockchain after hype for y00ts pushed the project past new heights in sales. DeGods was created by Frank and Dust Labs was created by Kevin, no last names are given by these two still anonymous creators. Dust Labs is focused on “building software that helps NFT communities bring more value to their holders” as stated directly on the website.
Unlike Yuga Labs to Bored Apes, Dust Labs is not a parent company rather a company that was spun off of the success of the y00ts mint. Dust Labs is responsible for creating the creative y00ts minting website.
The native token of Dust Labs goes by the same name $DUST and was the only way to purchase a y00t at the time of mint. The token was originally given to DeGods holders as a gift and is currently being accepted by Magic Eden as well.
The mint saw users purchase what are called “toobs”. There were a total of 15000 toobs being sold to DeGods holders and those lucky enough to get on the exclusive “yootlist” via “scholarship” application. The scholarships were given to celebrities , influencers , some lucky people , and even onlyfans models. Burning of the toobs to create the pfp y00t were scheduled to commence on the 9th of September but the delay of the mint may impact that timing.
The minting of the toob costs 375 DUST which is the equivalent of $915 at the time of this writing. Those on the scholarship only have about 12 hours left to mint while a DeGods holder can mint at anytime but the price may vary.
According to Hyperspace the project is sitting at a one day volume of $2,197,681 with a total of over $6 million in sales. Hyperspace has also invested in the funding round for Dust Labs. The current floor price of a toob is well over $4000.
Y00ts continues to break records as it has supplanted Ethereum Name Service as the top-selling NFT on OpenSea and has surpassed all other NFT projects on OpenSea for the last week.
Congrats are in order for Frank, Kevin, and the entire DeGods and y00ts community.