Background and History
DeGods was launched on the Solana blockchain and quickly became one of the most valuable and recognized NFT collections. The project was created by a pseudonymous individual known as “Frank” and the community. The collection consists of 10,000 unique NFTs, each depicting ‘degenerate’ ancient deities in modern streetwear. One of DeGods’ most notable early innovations was the introduction of the “Paper Hands Bitch Tax” (PHBT), a 33.3% fee on sales below the floor price, which was later replaced by a standard royalty fee (CoinGecko) (Phemex).
Key Features and Technologies
Deflationary Mechanics
DeGods incorporates deflationary mechanics by burning NFTs to reduce supply and increase rarity. This strategy included the buyback and burn of low-value NFTs using the proceeds from PHBT, which significantly contributed to the collection’s value appreciation (
