Welcome back you Risky Rascals! Today I have the pleasure to cover a project that has been building through the bear market and pushing to become a top project in the space. This project is a result of the community taking over the project in which the original founder gave over the keys and the community stepped up to take it to the next level. The original founder worked with the community and air-dropped mutant rats to all the holders. Eventually, top community member April took over the decision-making. He has been joined by b3nn4r and Mr. G in running the project. There are some exciting opportunities to be made right now in the Sewer so let's take a deeper dive into these Degenerats.
Let's start by talking about the OG collection which features some amazing art that was minted back in 2022. Their mission statement is “Degenerats are proof that extraordinary things can come out of the sewers.” They are striving to deliver quality art and have a strong focus on the large and united community. Since this project was a community takeover, those who believed in the project are now the ones running it. It is incredible to see community members banding together to save a project and take it to the next level. This project has a couple of collections some are being used for the exciting upcoming SuperHero Degenerats Mint on 02/15/2024.
Degenerats OG Facts:
· Total Supply: 4,000 Rats
· Mint Date: 06/7/2022
· Public Mint: 55 ADA per NFT
· Total Volume: 374k ADA
· Current Floor Price: 29 ADA
People who have been in the space have seen projects come and go. This project has one of the strongest communities in the Cardano ecosystem. The community took over the project and has a plan to take Cardano by storm in 2024. In my opinion, floor prices do not dictate what the value of a project has in return. Oftentimes, investors overleverage themselves and when they do not see the project creating the “next best thing” or something to pump their bags, then you see the floor price being undercut by these individuals. It is always important when investing time/money into a project that you can only invest what you are okay with losing. I have seen so many people get burnt by projects because they bet the house on a project. Remember to always do your own research and due diligence to ensure that a project is right for you. Holders are the strongest part of a project, and some true diamond hands represent this project. Yes, it starts at the top being a founder and relaying the project developments and roadmaps for a project, but April and the team have done just that. It is a matter of time before we see this floor jump as they have some great things planned for the Degenerats.
Next, let's take a look at their token $BLUE aka Blue Cheese. The tokenomics as you can see from the picture on the side are soundly built. As of the time of writing, $BLUE has not been listed on any DEX (Decentralized Exchange). Until the SuperHero mint, the only way to purchase more $BLUE is to open a ticket in the discord where 1 ADA will get you 130 $BLUE.What is the utility behind $BLUE? The team has developed a feature called the “Sewer Shop” where you can trade $BLUE for NFTs . Most of these NFTs are from partner projects such as Risk Gaming Project, Bankercoin ADA, and many more. This shop is being developed into a website where holders can use an interface to trade $BLUE for the NFTs that they choose and have a seamless transaction. The funds are being raised to develop this from the SuperHero Rats mint that I will be discussing later on in this blog. Right now, you can only purchase NFTs by opening a ticket in the discord and requesting what you would like from the Sewer Shop. How do I get some $BLUE? You can also grab some Degenerats from the Sewer as well. Currently, all collections are earning $BLUE daily. The OG 1/1s are earning 10 $BLUE per day plus a 2k airdrop bonus each month. Wing’d OG’s earn 7 per day and the rest of the OG collection earns 5 per day. Mutants earn 3 per day and the limited collection art called Sewer Art (only 35 total supply with zero listed at the moment) earns 9 per day. The final piece of the Degenerats Collection that you can stake is the Sewer keys, which have proven to hold their worth at a current floor of 280 ADA and these earn 9 per day. Additionally, partner projects such as Risk Gaming Project and Bank can be staked on their website to earn 1 $BLUE per day. This staking portal has no claim period and will continue to accumulate even after you claim your current allotment.
The second collection that was released is the Mutant Degenerats. This collection is currently sitting on a 9 ADA floor and has a total supply of 4090. To bring demand to the Mutants they have a huge perk that holders can burn these NFTs to mint the upcoming SuperHero Mint on 02/15/2024. This will shock the supply creating more demand due to less supply soon. More details on the amount needed to burn for each phase will be listed below. If you are excited about the SuperHero Rats collection this may be your best bet to gain more secured spots to mint as many SuperHero Rats as you would like.
What are the SuperHero Rats that I keep hearing about? The team wanted to bring some nostalgia and epic art to the Cardano Blockchain, while at the same time providing funds to hash out some developments that they have set out to complete for their community. The funds that are raised from this mint will be used to create a liquidity pool for $BLUE to get it listed on a DEX so that all members of Cardano can have access to the token. The team also plans to use the funds to purchase items to fill the Sewer Shop mentioned above along with covering the mint fees and establishing a reserve treasury for the project’s future developments. Due to the community having to take over the project funds are needed to continue to provide for their community.
SuperHero Mint Details
Total Supply: 1,200 SuperHeros, 30 1/1s
Mint Date/Time: 2/15/2023 @ 18:00 UTC
Mint Price and Mint Phases:
· Phase 1: 335 Allotment. 1 per Sewer Key & Sewer Art, each mint must burn 1 Mutant
· Phase 2: 40 ADA + 3,900 $BLUE + 1 Mutant
· Phase 3: The public phase will be 91 ADA OR send in 11 Mutants to be burned for a Superhero in return.
This art is set to turn some heads and has been gaining a ton of attention from the clean sneak peeks that have been coming out. Take a look for yourself and see if you don’t resonate with one of these!
Final thoughts:
Degenerats have been taken over by April and his team who were dedicated community members. They have set out to deliver some massive utility to their holders who have stood the test of time and stuck with them through thick and thin. They are aiming to prove that good things can come from the depths of the sewers and if you have ever been in their discord or listened to them on an X-Space you would see that they are going to deliver something special. Not financial advice, but there will be a supply crunch on the Mutants due to the community using those to mint the SuperHero’s and if you plan on minting you could snag 11 of them to burn for a new mint. This team has set out to partner with some of the best projects in the space and people are seeing these partnerships. Showtime is an advisor for the project and he has done a great job in utilizing his connections in the space to bring more eyes to this great project. If you have any questions please feel free to join the Degenerats discord or DM me and I'll be more than happy to answer any questions you may have. All links will be provided down below!
As always, stay Risky you Rascals!
Important Links:
Discord: https://discord.gg/AgaUTxuDab
Twitter: https://twitter.com/DegeneratsCNFT
Staking Website: https://degenerats.staking.zip/
OG Degenerats Secondary: https://www.jpg.store/collection/degenerats?tab=items
Mutant’s Secondary: https://www.jpg.store/collection/degeneratsmutants
Sewer Key Secondary: https://www.jpg.store/collection/degeneratssewerkey
Sewer Art Secondary: https://www.jpg.store/collection/degeneratssewerarts