X Empire is an Elon Musk–themed game that runs on the Telegram app and TON blockchain. Learn more about how it works in this article.

 continues, companies are looking for more ways to distinguish their projects. 

 hopes to stand out from its competitors with its exciting Elon Musk theme. Though this project isn’t officially endorsed by Musk, it's nevertheless managed to attract a lot of attention from Musk's fandom. To understand why 

 is currently so popular, explore this guide.

 is a game that runs on the Telegram app and 

. By repeatedly clicking on their phone's screens, users earn points that they can eventually exchange for cryptocurrency in this Elon Musk–themed game.

 aims to capitalize on Telegram crypto gaming trends while providing a better experience than its competitors. Currently, Telegram gaming is a leading web3 industry that’s worth over $3 billion. 

 hopes to take part in this exciting trend and create a space for Elon Musk fans. By incorporating a variety of images and topics related to Musk, 

 believes it can attract even more fans than generic games do. While other similar games use basic themes (such as cats), 

's design is targeted toward a highly specific audience.

's design is also meant to address some issues with past Telegram tap-to-earn games. Its creators have included extra security measures to remove bots and coin-burning mechanisms that punish inactive accounts. They hope this will ensure they have more regular users than other games, such as 

In order to further improve user engagement, 

 also has a complex system of upgrades and levels. These incorporate strategy into the game, so users have to do more than just mindlessly click on their screens. 

's team believes these additional features will help them retain their user base for as long as possible.

 relies on Telegram and The Open Network (TON) blockchain to function properly. The 

 game’s system is designed to run with the Telegram bot, which takes the game's software and translates it into images and buttons with which players interact. When users sign up for 

, the bot sends prompts that allow players to participate in the game. 

 is its use of TON blockchain technology. 

 keep track of player information, while in-game activity functions as a form of mining on the TON chain. 

 plans on minting Elon Musk–themed TON tokens, to be distributed to players of the game. During the 

 stage, player activity will end up determining how many 

 has only been operational for a few months, but it's already achieved some impressive metrics. The game has over 35 million players, and is acquiring new players at a rate of around 5 million per week. 

 also has a robust following in the online digital landscape: its YouTube channel has over 6 million subscribers, and over 2.8 million people are following its X account. Even rebranding from 

's success is its Elon Musk theme. The game has done an excellent job of marketing to a niche set of 

 (DeFi) enthusiasts. However, even people who aren’t deeply interested in Elon Musk or artificial intelligence are getting involved in 

. Its fairly short mining period and upcoming airdrop have helped it garner a lot of interest from investors looking for a fast way to earn crypto.

 are the main way of determining airdrop eligibility for the X crypto token. Players who have a higher profit-per-hour rate will get more rewards in the 

 airdrop. In addition to getting tokens through your gaming experience, you can also receive more airdrop rewards by inviting other people to play the game. Tokens distributed during the airdrop will be called XEMP; rumor has it that XEMP will function as a utility token. 

It's still unclear precisely when the airdrop will happen. However, 

 has announced that the mining phase of its game will end on Sep 30, 2024. After that date, any in-game currency earned within 

 that its token launch and airdrop are scheduled for Oct 24, 2024. To qualify for the airdrop, people simply need to be active 

Looking to trade X tokens? Bybit will soon offer the X/USDT Spot trading pair for trading. Find out more 

 is a game that players can access through the Telegram mobile app. Once you sign up for the game, you'll be prompted to choose a cartoon image of Elon Musk as your avatar. You can then tap a mining button repeatedly to earn coins until you run out of “energy,” which gradually refills, at which point you can tap to earn more in-game assets.

The game allows you to upgrade your Elon avatar to improve its earning capabilities and its energy regeneration. You'll also have a workforce that you can upgrade with things like new staff and office additions, which can help you earn passive income even when you aren't actively tapping. Furthermore, the game includes a variety of quests and daily challenges that you can complete to boost your income. 

 is a fantastic example of how Telegram games can appeal to modern crypto enthusiasts. The seamless integration of tap-to-earn mechanics and Elon Musk memes has helped 

 has a lot of competition from similar games, it's managed to keep its players engaged. As 

's airdrop date approaches, crypto investors should make sure to keep a close eye on this project.

Intermediate

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X Empire (X): Command Your Realm in an Elon Musk–Themed Game

Ethena Labs proposes adding SOL as a backing asset for USDe, leveraging the same hedging mechanics used with BTC and ETH.

The SPX index was up by 0.77%, with 9 of its 11 sectors gained, led by technology, utilities, and real estate, while the energy sector declined due to weaker oil prices. Investors are now focused on upcoming earnings reports from major companies like Goldman Sachs and Johnson & Johnson, along with remarks from key Federal Reserve officials. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 5.68%, with Bitcoin and Ether rising by 5.12% and 6.67%, respectively in the past 24 hours.

Today's top performer is ETH, which surged 6.9% following Vitalik Buterin's proposal to lower staking requirements and speed up transactions on Ethereum.

Ethereum (ETH), launched on July 30, 2015, is a decentralized blockchain platform supporting its native cryptocurrency, Ether (ETH), and enabling smart contracts and dApps. It powers ecosystems in DeFi, gaming, and NFTs, using proof-of-stake for security and transaction validation. While offering significant potential, it also carries risks like market volatility and regulatory uncertainty, warranting cautious investment. 

. Key suggestions include lowering the solo staking requirement from 32 ETH to 1 ETH to encourage more participation and address centralization concerns. He also proposed "single-slot finality" to reduce transaction finalization time from 15 minutes to 12 seconds, aligning Ethereum with faster blockchains. These improvements aim to enhance network performance, with further upgrades, like Pectra, expected early next year.

Check Out the Latest Prices, Charts, and Data of 

, leveraging the same hedging mechanics used with BTC and ETH. The gradual integration, guided by the Risk Committee, considers SOL's shorter trading history and lower liquidity. With SOL’s favorable 2024 funding rates and $2 billion in open interest, the move aims to boost protocol revenue and support USDe’s scaling. The proposal also suggests incorporating liquid staked SOL assets, such as BNSOL and bbSOL, similar to how ETH LSTs are used. The Risk Committee has 7 days to approve the proposal unanimously.

Yesterday, In the latest BTC Spot ETF data, the flow for GBTC was $37.8 million, while non-GBTC funds accounted for $438.6 million, bringing the total flow to $476.4 million.

The Hyper Foundation has been created to foster the growth of the Hyperliquid blockchain and its decentralized exchange, which offers deep on-chain liquidity for various assets. With the launch of the HyperEVM, applications on Hyperliquid will benefit from this liquidity and additional financial features. The next phase includes the introduction of the native token, HYPE, crucial for the HyperBFT proof-of-stake consensus and future developments. Eligible users can participate in the 

 and receive HYPE and a commemorative Hypurr NFT by accepting the terms on the website before November 11, 2024. More details about HYPE and the Genesis Event will be announced soon.

Beginner

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Ethena Labs Proposes Adding SOL as USDe Backing Asset to Boost Revenue and Scalability

Discover how halal crypto and crypto trading uphold transparency, fairness, and Islamic financial principles, offering Shariah-compliant investment opportunities in the growing digital finance landscape.

In 2009, Bitcoin (BTC), the world's first blockchain network and 

, was launched. Soon afterward, Bitcoin ushered in the era of active crypto trading and investing. Cryptocurrencies — digital assets securely exchanged and held on decentralized network platforms called blockchains — are now a major asset class within the world of finance. Many aspects of cryptocurrency and crypto trading align with the principles of Islamic finance. For instance, there's no concept of interest in blockchain-based crypto transactions. Thanks to the benefits that crypto might deliver to faith-conscious Muslim investors, halal crypto products are now gaining widespread adoption.

In this article, we cover the major concepts related to Islamic finance, blockchain and halal crypto in order to help you better understand the emerging niche of Shariah-compliant cryptocurrency investing.

Islamic finance refers to financial products, platforms, transactions and general principles that align and comply with Shariah law (based on the Quran), which governs the social, economic and judicial principles of Islamic societies. Compliance with the principles of Shariah is the key requirement for Islamic finance products and services to be considered halal — and, therefore, to be available to Muslim individuals for their use and investment.

Any financial product that is clearly in breach of the Shariah law principles is considered haram, and Muslims are discouraged from using such products.

Islamic financial principles emphasize the importance of values like fairness, societal and personal betterment, real-world utility, transparency and the avoidance of exploitation. The Shariah compliance of financial products is often assessed by authoritative Islamic scholars and Shariah law experts. Their opinions are published in the form of advisory notes or, if the scholar is so authorized, official fatwas — legal rulings on specific aspects of Shariah law and its applications.

There are several key Islamic finance principles, described below, that are critical in defining the Shariah-compliant status of financial products.

Riba means unreasonably high interest (or usury). The term is used to refer to the interest derived from financial products. Riba is strictly prohibited in the Islamic faith, and Islamic finance considers both charging interest and earning income from interest to be in direct violation of Shariah law. Interest is considered an exploitative and unjust instrument, and Muslims are discouraged from investing in any interest-bearing products. This hinges on the general principle that income and value should only be generated from tangible assets and activities, not by re-using the same capital with no real value added. The prohibition of riba is probably the most well-known element of Islamic finance, both in the Muslim world and beyond.

Gharar refers to excessive uncertainty in financial transactions or ambiguity in contracts. For example, financial products or strategies with high levels of 

 might be considered gharar since they involve substantial uncertainty or risk. Shariah also states that all transacting parties must have a clear understanding of their contractual relationship, with no ambiguity present.

Maysir, or gambling, is another activity that’s strictly prohibited in Islamic finance. Anything connected to gambling or speculation, or income derived from gambling-related or highly speculative activities, falls under the definition of maysir. Thus, Muslim investors need to research and invest only in assets and products that don't involve speculative, gambling-like features or strategies.

4. No Investment in Haram-Linked Products

Investing in any financial product, company, industry or business activity related to Haram practices or products — such as alcohol, pork or drugs — is strictly prohibited in Islamic finance.

Islamic finance requires that all contractual relationships and partnerships involve sharing of profit and loss in a fair, ethical and reasonable way. This is achieved through several contract types permitted in Shariah law, specifically Mudarabah and Musharakah. Mudarabah refers to a partnership where one party provides the capital and the other party manages it, with profits and losses split based on a pre-agreed ratio. Musharakah is a venture in which all parties involved provide capital, and share profits and losses proportionally based on their investment shares.

6. Real-World Utility and Value of Economic Activity

 must be based on products and strategies that generate tangible value and are based on real-world utility. Thus, it's important to invest only in cryptocurrencies with real-world applications and use cases.

In addition to these specific principles, Islamic banking and finance are also based on the general principles of the fairness, transparency and ethical nature of all transactions, products and contractual relationships.

 is a type of distributed digital system in which all transactions are verified and confirmed by a decentralized network of 

, each acting independently, with the validity of transactions confirmed through a 

. The validated transactions are then permanently written into the blockchain's immutable ledger of records, and the ledger itself is also maintained in a decentralized way, which avoids the possibility of a single point of failure in case of hacking attempts.

The decentralized nature of transaction confirmation and ledger storage ensures that blockchains are extremely difficult to hack or take control of. For instance, Bitcoin, the world's largest and oldest blockchain, has thousands of nodes acting together as guardians of the ledger's integrity and consistency. Blockchains also ensure the security of all transactions and stored values by using a cryptographic encryption mechanism.

In addition to the nodes who ensure the integrity and immutability of the ledger, there are specialized mining nodes on Bitcoin who use the hashing power of their computers to solve computational puzzles in order to validate transaction blocks. Over a million individuals currently participate in the mining process on Bitcoin using the power of their specialized computing machines. Every ten minutes, one miner node wins the race to be the first to solve the computational puzzle. This mining node receives the right to add the next validated block of transactions to the ledger. As a reward for their work, the winning miner node earns a reward in Bitcoin's native digital asset, the BTC cryptocurrency.

The BTC coin itself — also frequently referred to as Bitcoin — acts as an asset for transaction exchanges and value storage on the network. Mining nodes rewarded for their block processing activity are free to spend their earned BTC in any way they wish. Other network users can also buy, sell and store BTC as a form of digital currency.

There are now well over 100 public blockchain networks. Each blockchain has its own technical characteristics, native digital assets and transaction validation procedures, which may differ from the way Bitcoin’s chain operates.

Blockchains exist and operate based on a number of key principles and ethos, including:

The Concept of Halal in Cryptocurrency and Blockchain

The concepts of halal and its opposite, haram, are fundamental principles in Shariah law, and in the Islamic faith in general. 

 refers to any activity that is permissible or lawful for Muslims to engage in, while 

 includes prohibited practices and behaviors, such as anything related to alcohol and pork consumption, gambling, drugs, pornography, unethical behavior and deceitful conduct, as well as activities that do not result in any tangible value for a person or society.

Many aspects of cryptocurrency and blockchain technology align with the concept of halal. By default, blockchain transactions are interest-free. While certain crypto trading products on external platforms might involve interest, the transfer and storage of crypto funds — for example, in BTC coins — are totally free from riba. Secondly, the public nature of blockchains ensures the transparency of operations, also a fundamental principle of Shariah law.

Many blockchains are capable of supporting programmable functionality that goes beyond the mere transfer and storage of funds. Some of the most prominent among these networks are 

 (AVAX). The programmable functionality on these chains is supported through 

, coded scripts that are programmed to automatically execute transactions based on pre-specified conditions and triggers. Smart contracts are usually open source, further promoting transparency, a key element of halal behavior.

Another aspect of Shariah law applicable to cryptocurrencies relates to the principle of real-world value and utility. While there are cryptocurrencies created without any meaningful utility (e.g., 

), major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) provide the benefit of interest-free, digital storage and exchange of value in a decentralized, private and secure way, away from the traditional financial system. 

Moreover, some crypto projects are involved in tokenizing and bringing a variety of 

 to real-world data integration into blockchain, such as that of 

Benefits of a Shariah-Compliant Blockchain

In recent years, several blockchain projects that focus on Shariah compliance and Islamic values have been initiated and successfully launched. Examples include the 

 and the halal-only, crypto projects–focused 

Shariah-compliant blockchains and apps can potentially provide significant benefits to the Muslim community and investors. First, such platforms enhance trust among investors, thanks to the adherence to the general Shariah principles of fairness and avoidance of exploitation. By offering Shariah-compliant products based on shared risk and profits, no maysir and no gharar, these platforms help investors reduce the overall investment risk as well. They also provide Muslim investors with access to global markets and products.

Shariah-compliant crypto projects also contribute to the overall development and innovation within the general crypto finance sphere by introducing products based on Islamic values.

Trading crypto and investing in crypto-based products can be profitable and rewarding for Muslim investors when carried out through Shariah-compliant finance opportunities. Such platforms and products promote ethical investment practices that align with Shariah law. Another critical benefit of Shariah-compliant crypto trading is improved financial inclusion. Many Muslim investors avoid the crypto market due to the non-compliant nature of many of its products. Shariah-compliant opportunities can help these investors participate more actively in the industry.

Shariah-compliant crypto trading products can also help Muslim investors participate in social impact investing, an essential consideration for Islamic finance. Moreover, appropriately designed Islamic crypto trading products can help facilitate the flexible payment of zakat and other charitable donations. Zakat — which stipulates that Muslims should donate 2.5% of their income to charitable causes if their wealth exceeds the financial threshold, or nisab — is one of the pillars of Islam. Products that help facilitate zakat payments fairly and ethically can be of tremendous value to Muslim investors.

Bybit’s crypto exchange offers investors a Shariah-compliant 

, the first of its kind in the industry. The account provides a range of benefits to Muslim crypto traders and investors, including global accessibility, no interest, transparent fee structures and adherence to the ethical considerations and practices of Shariah law.

There are certain challenges that Muslim investors face in the overall crypto finance landscape when choosing products that align with their faith. For instance, many crypto products have riba built into them, thus violating the principles of Islamic finance. Certain crypto trading products may also involve wild volatility, making them unequivocally gharar. Fee structures and sources of yield may also be unclear or ambiguous on many crypto platforms.

Another challenge for Muslim investors in defining the halal status of crypto products is the variability in the interpretations of Shariah principles. In other words, different scholars and opinion-issuing institutions may disagree on specific matters, such as the level of volatility in products that may or may not qualify them as gharar. 

A key practice for Muslims who wish to overcome this challenge is to seek appropriately certified Shariah-compliant products from reputable crypto platforms. One example of this type of product is Bybit's Islamic Account, which was developed in collaboration with the trusted Shariah finance advisories 

Islamic finance is a new growth area within the wider blockchain and crypto ecosystems. Cryptocurrency products have enjoyed strong growth rates among investors in the Muslim world over the past few years, with 

 rising to 30% in the United Arab Emirates (UAE) and 11% in Saudi Arabia.

Shariah-compliant crypto projects like HAQQ Network, which launched its mainnet in May 2022, and MRHB DeFi, which started in late 2021, have helped boost the growth rates of Islamic finance in the crypto industry, a trend that’s widely expected to continue.

As Shariah-compliant crypto opportunities increase, Muslim investors will be able to access a more diverse range of products.This will also positively impact the wider industry, thanks to the improved inclusion of new segments of users. Within the economies of Islamic countries, Shariah-compliant cryptocurrency products will also help improve the security and flexibility of payments based on digital assets.

The future of halal crypto looks promising, as this niche is quite young and full of unexplored opportunities. 

, MRHB DeFi solutions and HAQQ Network's products are innovations that will likely spur further growth for an increased variety of choices in this area.

This is positive news for Muslim investors who might be eager to join the crypto revolution, but have often been reluctant to do so due to the uncertain nature of many crypto products. By choosing Shariah-compliant platforms and products, these investors can now take advantage of crypto opportunities that align with the core principles of their faith.

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How Halal Crypto Upholds Transparency and Ethical Standards in the Digital Age

Muslim traders can explore various halal trading strategies, such as day trading, swing trading, scalping and investing in Shariah-compliant cryptocurrencies.

As the cryptocurrency market grows, more Muslim traders are seeking halal trading strategies to help them remain compliant with their faith. Those seeking to engage in the vibrant crypto space while staying true to Islamic principles must understand the principles of halal trading.

This article breaks down the fundamental concepts of halal trading, examines how it operates and shares practical strategies for trading in a Shariah-compliant manner. With this knowledge, you can confidently participate in the exciting world of cryptocurrency without compromising your beliefs.

Halal trading is the practice of trading assets, including cryptocurrencies, in a manner that complies with Islamic law (Shariah). It seeks to avoid interest (riba), excessive risk (gharar) and unethical investments.

Crypto halal trading refers to engaging in the trading of digital assets in accordance with Islamic principles as outlined in the Qur'an, Sunnah and Hadith. Understood as the divine word of God revealed to the Prophet Muhammadﷺ, the Qur'an sets forth essential guidelines for ethical behavior, including financial transactions. The Hadith consists of the Prophet’s collected sayings, while the Sunnah refers to his practices and those of his companions. 

Central to Islamic finance are four key concepts:

For a cryptocurrency transaction to be considered halal, certain principles must be upheld:

These principles provide guidelines to crypto traders to ensure their investments are ethically and religiously compliant. Several platforms and brokers, including 

 structured to align with these principles. These platforms are often overseen by Shariah boards or scholars who ensure that all trading activities follow Islamic law, giving traders peace of mind as they navigate the world of cryptocurrency.

Key Factors to Take Note of Before Halal Trading

Before participating in halal trading in the crypto market, consider the following key factors to ensure your investments align with Islamic principles.

Halal trading and conventional crypto trading share certain similarities, yet they also exhibit key differences, particularly concerning compliance with Islamic principles.

For Muslims, the following effective halal trading strategies can allow them to invest in crypto while staying true to their religious beliefs.

 involves buying and selling cryptocurrencies within the same trading day, with all positions closed before the market closes. The goal is to take advantage of short-term price movements. This strategy can be considered halal, because it avoids holding trades overnight. This eliminates any potential interest (riba) charges. Additionally, quick trade execution helps minimize uncertainty (gharar), aligning day trading more clearly with Islamic finance principles. By focusing on fast, interest-free transactions, day trading can offer a halal approach to navigating the crypto market.

 involves holding positions on halal-compliant assets for several days (or even weeks) to capitalize on anticipated price movements. This strategy can be considered halal, provided it’s conducted through a swap-free account that ensures no interest (riba) is incurred during the holding period. This allows traders to benefit from market trends while adhering to Shariah principles by avoiding excessive speculation. Such an approach offers the opportunity to navigate the crypto market thoughtfully and responsibly, respecting financial goals, religious convictions and ethical guidelines.

 is a short-term trading strategy aimed at making small profits from numerous trades throughout the day. It typically involves immediate transactions, and doesn’t require holding positions overnight, thus avoiding any interest (riba) payments and adhering more closely to halal principles. Nevertheless, traders must ensure their scalping activities don’t result in excessive risk or speculation. With quick trades and a disciplined approach, scalpers can effectively navigate the crypto market while adhering to Islamic finance principles.

Investing in cryptocurrencies specifically designed to be Shariah-compliant — such as those backed by tangible assets and/or ethical projects — ensures adherence to Islamic principles. This strategy is considered halal because it prioritizes ethical investments and steers clear of industries deemed haram, such as gambling and alcohol. Investing in these compliant cryptocurrencies assures investors their financial activities align with their values, while allowing them to participate in the growing crypto market.

 (ICOs) or token sales of projects that are Shariah-compliant and have been reviewed by Islamic scholars can be a halal investment strategy. It's important to ensure that a project's business model and revenue sources align with Islamic principles. By investing in ICOs that focus on ethical practices and avoid industries considered haram, investors can support innovative projects while staying true to their values.

ing, involves buying cryptocurrencies with the intention of keeping them for an extended period to benefit from long-term value appreciation. This strategy can be halal if the assets are fundamentally sound and comply with Islamic principles. By focusing on long-term value rather than chasing short-term gains, investors can minimize speculative risks and align their investments with ethical standards. 

Halal trading in the cryptocurrency market offers a viable path for Muslim traders to engage in this dynamic sector while remaining true to their beliefs. By closely following Shariah principles and employing effective strategies, traders can responsibly navigate the crypto landscape and build wealth without compromising their values. As the world of cryptocurrency continues to expand, the availability of halal trading platforms and educational resources is expected to grow, empowering more Muslims to participate in this exciting new frontier.

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Halal Trading: Essential Strategies for Shariah-Compliant Crypto

Bybit Learn

DeGods is a Solana NFT project featuring 10,000 colorful, virtual gods, each one creatively attired. Find out why it recently exploded in popularity here.

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The overall NFT market has grown dramatically in recent years, as investors have increasingly been drawn to the profitability of digital collectibles. While there are many NFTs available through marketplaces like 

 is rightfully a standout that deserves your full attention. A closer look at the exciting differences between this NFT and others on the NFT market today will clearly reveal its advantages and profit potential.

Solana project DeGods is the brainchild of a man known simply as 

. Born in March 2021, it first appeared on 

. The concept introduced was that of a deflationary NFT, innovatively using 

 to provide a unique experience. It’s a collaborative project that has been supported by developers, artists, athletes and an eclectic assortment of others. By September 2021, 

 was created. Its community’s first members completed special projects, or bounties, to grant them early access to NFTs. 

 were released shortly afterward to build hype, including one that specifically showed its 

 in action. Over the next few months, various celebrities and crypto influencers showed considerable interest in these NFTs. The hype over the NFTs was also established by 

At the end of January 2022, staking went live. After only a single day, more than half of the supply had been staked for DUST. By March 2022, this Solana NFT project had topped the charts for more than 30 days with the highest NFT trading volume.

What Is DUST Protocol & How Does It Relate to DeGods?

DUST Protocol is Solana’s utility token. DUST tokens enable DeGods NFT holders to generate income from their collections. Specifically, holders can receive up to 10 tokens daily, supporting a passive income stream.

DeGods NFTs may initially be compared to other popular options on the NFT marketplace, including 

. However, these NFTs stand apart as being strategically advantageous in several key areas. Both BAYC and Solana Monkey Business feature various monkeys generated by algorithms, but they’re available in a far more limited supply than DeGods NFTs, which are deflationary — meaning that the value will keep increasing, thanks to the ability to burn DeGods. When a DeGod token is burned, it’s no longer circulated. Instead, it’s upgraded to a DeadGod and remains rare, adding a gaming component to this NFT collection.

In recent years, NFTs have been hyped in mainstream society through marketing with candy, in restaurants and more. This Solana NFT project has also increased in popularity through specialized artwork on beer cans from 

. This is a community-owned and operated brewery that sold a very limited supply of its Solana Summer Shandy through Magic Eden. Specifically, 333 cases of 16-packs were offered for sale. The cans feature popular NFT collections within the Solana NFT market, owned by barrelDAO and others, for which they’ve obtained a special license, including DeGods, 

Upgrading DeGods into DeadGods with StarDust

When holders burn these NFTs through a special process, the NFTs don’t disappear. Instead, they’re converted into DeadGods. The conversion of DeGods into DeadGods is completed with StarDust, which is available for 1,000 DUST tokens. Remember that DeGods holders can accumulate 10 DUST tokens daily.

DeadGods have a one-to-one ratio with DeGods, which means that there’s one DeadGod for every DeGod. Only 10,000 DeGods are in existence. Once NFTs are burned by their owners, the rarity of these NFTs increases — and in turn, their value. It’s important to note that DeadGods are upgraded DeGods, rather than part of a new NFT collection. The benefit of burning these NFTs and turning them into DeadGods is the ability to obtain double DUST tokens. The holder then has access to both the DeGod and DeadGod images.

DeDAO is a specialized aspect of the DeGods marketplace. Specifically, it comprises the NFTs’ community leaders, as well as the key founders of DeDAO, and it serves as the decentralized autonomous organization (DAO) of DeGods. The primary decision-makers in the DeDAO organization are its founders and leaders, the DeAlpha Team and the Divine Council. 

The DeAlpha Team’s primary responsibility is to apply their expertise to maneuver the NFT for changing market conditions, while the Divine Council is a group of elected members who have a say in various proposals. In addition, the DeAlpha group meets with the Divine Council to arrange for acquisitions and to allocate funds.

The organization is funded through an NFT marketplace fee, equating to 9.99% of each transaction. Of this amount, two-thirds is allocated to cover DeDAO’s operating costs. The remaining one-third is allocated to DeGods, with the funds supporting a variety of initiatives, including critical development; paying for the community’s skilled workforce; covering liquidity pools on exchanges; and buying gifts available through various auctions and raffles.

DUST tokens serve several key purposes. For example, they enable DeGods NFT holders to generate passive income and to see a return on their investment. They are also required to purchase StarDust mentioned above. 

There are two primary ways for DeGods NFT holders to earn DUST: 

 their NFTs to effortlessly earn 10 DUST tokens daily. Once a holder has amassed 1,000 DUST and purchased StarDust, the holder can burn the god. This will take the DeGod out of circulation and turn it into a DeadGod. With DeadGods, holders can obtain three times the DUST tokens.

DUST tokens are earned through the DeDAO Treasury. A specialized DApp, expected to launch soon, is in the works that will simplify the process of burning DeGods NFTs.

Staking is the only method available for both DeGods and DeadGods holders to earn DUST tokens. This process describes putting NFTs to work on the 

. For image-based NFTs like DeGods and DeadGods, the NFTs are connected to the platform in exchange for a reward, without losing ownership. Each non-fungible token is of course unique, which means that many of these NFT owners may prefer to maintain ownership of their assets, rather than sell them quickly. The ability to earn rewards on a daily basis for staking their assets without losing ownership is a key selling point.

While this Solana NFT project has a relatively short history, it’s already earned a great reputation for its strong community base. This community includes the founders and governing members, as well as the many NFT holders. 

 these NFTs is a key and differentiating aspect of this NFT collection. A DeGod can be burned at a cost of one StarDust. 

After a DeGod has been burned, it’s removed from circulation. When this happens, the rarity of the other DeGods increases, enhancing their value and benefiting the entire community. At the same time, the holder who burns their DeGod is upgrading that NFT to a DeadGod. 

 for three times the number of daily DUST tokens. Thus, burning DeGods is beneficial for both the community as a whole, and the holder. While burning these NFTs must be done manually right now, an upcoming 

The founders and developers of the DeGods Solana NFT project have created a special measure to reduce the likelihood that DeGods will be sold on secondary marketplaces, where these NFTs could potentially be sold below the highest sales price — which could be detrimental to the overall DeGods community. The Paper Hand Bitch Tax, which equates to 33.3% of the sales price, is imposed on DeGods sold in these alternative marketplaces for a lowball price.

The funds collected through the Paper Hand Bitch Tax are placed in the DeGods Treasury. These funds can then be allocated to the community’s greater good, such as continued development and other initiatives. There’s a special Burn Bot that monitors the taxes collected in relation to the lowest-priced DeGod. Any DeGod sold in a secondary marketplace below that price will automatically be incinerated. Through this process, the rarity of the remaining DeGods increases, and their value is also enhanced.

Solana NFT project developers plan to remove the Paper Hand Bitch Tax at some point. When this happens, a flat sales fee of 10% will be assessed through all marketplaces.

As mentioned, once a DeGod is burned, it turns into a DeadGod. Each virtual god has a unique design, and the ratio between DeGods and DeadGods is one-to-one, so rarity is maintained. Holders can use a 

 to analyze the status of their NFT at any given time.

The DeGods NFT collection has attracted ample attention from notable celebrities, including David Beckham, Madonna and Kyrie Irving. However, it was Shaquille O’Neal who made the largest purchase: Shaq bought a DeadGod at the price of 250 Solana. At the time, that was equivalent to roughly $28,000.

The floor price — the cheapest listed NFT on a market — for DeGods NFTs has trended upward throughout their short history, most recently reaching a new level. On August 28, 2022, the floor price surged beyond 500 SOL thanks to a series of DeGods secondary market sales. At one point, it was traded on leading marketplace Magic Eden for 587 SOL, which equated to $18,650 at the time. In terms of the wider NFT market, DeGods' entry-level price point ranks in the top four among PFP projects with at least 10,000 NFTs.

Frank, the DeGods creator, has released a new Solana NFT project known as y00ts. This new NFT was introduced in early September 2022, and its launch has been one of the primary drivers in the increase of the DeGods NFTs floor price. In fact, DeGods momentum has picked up considerably to the point that it has led to the collection challenging Ethereum NFT heavyweights on pricing.

 when it bought a stake in Ice Cube’s BIG3 basketball league. Notably, DeGods is one of the most influential drivers behind Solana’s success. Solana is now second only behind Ethereum on the list of most active blockchain platforms.

The masterminds behind this Solana NFT project created an image-based 

 that creatively delineates the history of the NFT, as well as its individuality. It depicts a flat earth designed with a pair of hands gripping one side, and a waterfall flowing over the other. At one end of the world are a mountain range and a forest. At the other end, a Mario Kart–like rainbow road bridges to the planet from outer space. The world illustrates a magical place where the DeGods can roam freely, featuring a retail store, a political debate, downtown skyscrapers, a ski resort and a Sphynx.

Are you interested in participating in the DeGods experience and making an investment soon? DeGods NFTs are currently only available through 

. After purchasing DeGods NFTs through one of these authorized channels, you’ll have full access to the DeGods Discord community. Through this exclusive community of holders, you can verify your assets and analyze their rarity.

Purchasing non-fungible tokens is an investment opportunity that’s open to any investor with the funds to do so. Ownership in all NFTs is secured by a blockchain, such as Solana. Interest in NFTs has been increasing substantially in recent years, and they’ve gained attention from many notable celebrities. They’ve even been marketed on consumer goods, such as beer cans and other items.

This NFT may be a particularly savvy investment because of its deflationary basis. The creators have taken special steps, such as the Paper Hand Bitch Tax, to maintain the value of holders’ investments. Furthermore, the ability to eventually convert DeGods into DeadGods, which produces even more DUST, adds to the ownership benefits.

Holders of DeGods may also benefit from market news and events for other NFTs. This has specifically been demonstrated by the recent launch of y00ts, since it’s been created by the same mastermind behind DeGods, drawing more attention to DeGods as a result of the launch. It’s possible that future market events could drive additional hype over this NFT. With all of these factors in mind, DeGods NFTs may be a smart long-term investment.

The world of NFTs continues to evolve quickly, and DeGods has been at the forefront of that evolution since its debut. As one of the most innovative and lucrative options available in the NFT market today, this Solana NFT project is one to watch.

DeGods: The Recent Solana NFT Project Ascending in Rankings

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards