This article originally appeared on Lucky Trader: Everything You Need To Know About y00ts
From the creators of DeGods, y00ts is an upcoming NFT project on the Solana blockchain. Learn more about the project and how you can get a y00ts NFT with our premint guide.
- y00ts was originally going to be Duppies.
- There will be 15,000 y00ts NFTs.
- You will need 375 $DUST to mint a y00t NFT.
- y00ts aims to implement its own “common-sense version of copyright & ownership for NFTs.”
- You need to apply for a Scholarship to get on the y00tlist.
The Important Details
Mint Price Public Sale: 375 $DUST | Supply: 15,000 NFTs
Mint Date Allowlist | TBA Mint Date Public Sale: TBA
What Is y00ts?
Before y00ts was y00ts, it was Duppies. Duppies was originally planned as an “expansion collection” for the DeGods ecosystem. In early July 2022, the team announced an expected Duppies mint at the end of July or early August, but after a Twitter hack and the team changed plans.
“We tried some shit. We learned some shit. Now we’re trying some new shit.”
On July 30, 2022, Duppies officially became y00ts.
How Many y00ts NFTs Will There Be? And How Much Will a y00t NFT Cost?
The supply of the y00ts collection will be 15,000 NFTs.
To mint a y00ts NFT, users will need the native token of the DeGods ecosystem, $DUST.
Comments from the y00ts project founder, Frank suggest that 375 $DUST tokens will be needed to mint a y00ts NFT. 375 $DUST currently costs $761.25 or 21.29 Solana ($SOL.)
How To Purchase $DUST
As the native token of the DeGods ecosystem, $DUST can be generated by staking a DeGods NFT. However, if you do not have a DeGod NFT or $DUST do not worry, as the token can be purchased on the secondary market.
For example, users purchase $DUST using Jupiter Aggregator or another decentralized exchange on the Solana blockchain. To purchase $DUST on Jupiter, first connect a Solana wallet and navigate to the Jupiter Aggregator website and input the Dust Protocol contract into the “You receive” section on the swap page.
After that, choose the amount of $DUST you wish to receive, and confirm the swap.
What Is Unique About y00ts?
y00ts whitepaper, or ⓨpaper, outlines a goal to provide a “common-sense version of copyright & ownership for NFTs.” In layman’s terms, ⓨ is acting as a copyright, but instead of a central entity controlling the project and its intellectual property rights (IP), the NFT collection itself will act as the “governing body.”
Therefore, rather than holding a CC0 license or holder-specific IP rights, ⓨ operates as a “registry,” that will keep track of individuals or groups who are approved to use the NFT’s IP.
y00ts will act as the testing grounds for this new licensing implementation.
Implementations of ⓨ
The first way the team plans to implement the new license is with “the y00ts st0re,” a marketplace for custom y00ts’ traits that can be applied to y00ts NFTs. To submit a trait it must first meet the approval criteria that follows:
- Must fit the same space as the original trait (can not turn a t-shirt into a fur coat)
- Must be identifiable by the original metadata tag (a hat can’t become a crown)
- No hate speech or pornographic imagery
- No direct usage of existing copyrighted IP
- Meet a standard of quality to match the collection
Note: The approval process is dictated by the team, applicants are subject to being denied.
Once a trait is approved, the submitting artist will then own the license (or ⓨ) for the trait and be entitled to setting a price and quantity for the trait on the y00ts store, receiving five percent of the royalties on every sale thereafter. Artists granted a trait license can also sell the entire license if they wish.
The team has stated that after six months it plans to stop approving user-generated traits on the store because “at this point, you will be able to separate your y00t into its individual pieces.” Once that window closes, the project plans for all new trait drops to be collaborations with “big apparel/lifestyle brands” that will be limited in supply.
How Will Traits Be Added to y00ts NFTs?
Holders that stake their y00ts NFT for 30 days will receive a “ⓨ token” which will then be applied to their y00ts NFT metadata. Each y00ts NFT may earn up to six tokens for use. These tokens enable holders to add customized traits from the y00ts store to their respective y00ts NFT.
However, a user can only add a trait to the y00ts NFT that it already has. For example, a user can swap their black t-shirt trait for a customized t-shirt trait, but not a t-shirt trait for a customized hat trait. If desired, holders can always revert their y00t back to its base traits.
Once a customized trait token is used, holders must stake their y00ts NFT for another 30 days until they are able to apply a new customized trait to their y00t.
Who Created y00ts?
How Do I Get a y00t NFT?
In order to be allowlisted for the upcoming y00ts mint, users must receive a Scholarship for the “y00tlist.”
The y00tlist is similar to getting on a presale for a project but with a twist – you submit an application, much like an application for a job, that will either be approved or denied at the team’s discretion.
Those who are approved for the y00tslist will need 375 $DUST to mint their y00ts NFT.
How Do I Apply for the y00tslist?
Note: This must be done on a desktop, mobile is currently not supported.
Step 1: Create a Phantom wallet.
Step 2: Go to the official y00ts Scholarship website and click Apply in 45 seconds.
Step 3: Connect your Phantom wallet, navigate to Verify with Twitter, and follow the prompted steps.
Step 4: Pick a category you fall into such as “Artist,” “Brand Builder,” “Meme Creator,” or others.
Step 5: Answer the three questions assigned to your category.
Step 6: Follow the y00tlist Twitter and patiently wait to see if you were approved for the y00tlist.
It is worth noting that all users with either small followings on social media or large can potentially get on the y00tlist.
Notable Names to Receive y00tlist
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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