Solana NFT project y00ts launched on Monday, and it has topped the secondary market charts on Opensea and Magic Eden. There has been a massive hype around the y00ts NFT project so it’s no surprise the project is doing well.
The startup behind the NFT project has also raised a seed round from some notable investors.
Dust Labs & $DUST
Dust Labs is the Web3 tech startup behind y00ts and popular Solana NFT collection DeGods. Dust Labs announced on Twitter that they have raised $7 million in funding from different venture capital companies. Some of the notable names are Solana Ventures, Magic Eden, Hyperspace, and FTX Ventures to mention a few.
The funds will be used to build the $DUST ecosystem.
$DUST launched as a reward for DeGods holders and was the token used to mint the y00ts NFT during the primary sale. $DUST will also be accepted on Magic Eden soon as they are currently working on integrating Solana-based tokens from top Solana NFT projects.
The Web3 startup achieved success due to their performance of DeGods which is currently the most expensive NFT on Solana. It was founded by Frank, popularly known as Frankdegods, and current CEO Kevin. They are focused on “building software that helps NFT communities bring more value to their holders,” according to their website.
y00ts & t00bs
The y00ts NFT is a collection of 15,000 NFTs on the Solana Blockchain and they were made available for purchase last Sunday. DeGods holders were first in line to buy the latest NFT project including those who were given an exclusive whitelist over the last few weeks. Former Manchester United player Wayne Rooney and comedian Howie Mandel were among the buyers.
So far holders have what is called a mint “t00b” and it can be burned in exchange for a y00ts NFT beginning on September 9.
The mint t00bs currently sit at a floor price of 145 SOL or $5161, according to data from MagicEden.