Analysis reports from reputable blockchain analysts or official DeGods project reports

DeGods on Solana Introduces 404 Token Standard to Consolidate NFT Experiments

Sep 15, 2024, 03:19 PM

DeGods, a prominent NFT project on the Solana blockchain, is consolidating past experiments into a new unifying token standard known as the 404 token. This move is seen as a significant step in the NFT space, as it aims to offer the right incentives for community buy-in. While some community members express skepticism about the potential confusion this consolidation might bring, others are excited about the project's potential to solve issues related to market manipulation and speculation. The DeGods team, led by Frank, has prepared the community for this pivot, and the real test will be whether this strategy proves effective in the long run. Despite being the first cult on Solana, DeGods has a lower market cap than random Solana memecoins from this year, raising questions about the value in Web3.