DeGods interest soars: Collection ranks #1 on Blend’s active loans

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DeGods interest soars: Collection ranks #1 on Blend’s active loans

The recent “Season III” announcement from DeGods is not just creating buzz; it’s reshaping the NFT marketplace structure. Following the release of the awaited “Season III”, DeGods saw a staggering 200% surge, and that’s just the tip of the iceberg.

DeGods interest growth

In a week dominated by DeGods headlines, the collection posted a 41% uptick in active loans on Blend, outpacing industry juggernauts Milady Maker and Azuki. As of now, DeGods is the undisputed leader in Blend’s active loans arena.

Upon the release of the awaited “Season III”, the collection volumes spiked and so did the active loans. They didn’t just inch forward; they skyrocketed. With a transaction volume touching nearly 12,000 ETH, the collection’s outstanding loans marked a 26% weekly growth and an impressive 43% monthly rise, positioning DeGods at the pinnacle with 498 active loans.

According to Snowgenesis Data, DeGods are now the number one collection on total loans and total loan value.

DeGods taking the number one spot on number of loans on the past week according to SnowGenesis data

The trigger: “Season III” announcement

The “Season III” revelation wasn’t just another update; it became the catalyst for a trading frenzy. The 24-hour window post the announcement witnessed a trading volume surge of 200%, translating to 1,359 ETH, or around $2.5 million. 

The new season is not merely about numbers. It introduces 20,000 fresh artworks, novel traits, and much-anticipated female profile pictures. With a vision rooted in “rarity, provenance, and innovation,” it aims to make every new trait a sought-after addition.

Strategic moves with “Season III”

Learning from past market mishaps, like the one faced by Azuki “Elementals” in June, DeGods is ensuring its legacy collections remain undiluted. The strategy? Instead of new tokens, each NFT will be enriched with four pieces of generative art. Token holders wanting the latest updates will need 333 DUST, DeGods’ native utility token priced at $2.26. Every DUST spent is channeled into the “Points Parlor” prize pool, adding another layer of engagement for Season III holders.

Unpacking “Season III”: by the numbers

“Season III” has brought with it a wave of changes, and the numbers narrate a captivating tale:

  • Around 50% of the collection has seen a downgrade since the “Season III” inception.
  • Presently, approximately 26% of the total collection is staked.
  • The freshly minted Points Parlor Treasury is flourishing, boasting an accumulation of 1.4M DUST, equivalent to a whopping $1.34 million.

However, it’s not all rosy. Despite all the frenzy around the new update, the collection value is still down from its peak. Of the 1,244 recently acquired NFTs, a significant 1,221 now have a depreciated value, incurring an average loss of 2.32 ETH. While buyer interest peaked at 340 sales on 15th August, it was a mere 4 at the start of the month.

Analysts are also closely watching the price dynamics. DeGods’ value reached its zenith in August at 9.65 ETH but has since descended to 4.21 ETH. DUST’s price trajectory mirrors a similar trend, dropping from its 2.52 USD peak on 3rd August to below 0.95 USD.

The DeGods’ saga continues, and market spectators are glued to every twist and turn.

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