🔥 Dust Labs is on Fire

Market Meditations | September 8, 2022

If you are up-to-date in the NFT realm and you are a fan of Solana, then you have definitely heard of y00ts! Dust Labs, which is responsible for both y00ts and DeGods, has just raised $7 million. Let’s take a closer look at the startup and the popular NFT.

  • DustLabs has raised $7 million in seed money from an array of venture capital firms in order to further build the ecosystem. They received funding from FTX Ventures, Solana Ventures, Magic Eden, Metaplex, as well as Foundation Capital and Jump firms.
  • The startup began out of the success of DeGods which is currently the most valuable NFT PFP (profile picture) project on the Solana project.
  • The ecosystem continues to gain recognition with its latest release of the NFT y00ts. Minting a t00b (unrevealed y00ts) NFT cost roughly 375 DUST (roughly $900) at the start of the mint. At the time of writing, they are 2,427 Dust (roughly $4,700).

The NFT whitelist included soccer legend Wayne Rooney and comedian Howie Mandel. While we do not know where the price will go from here, this is good for the Dust ecosystem and the Solana ecosystem as a whole.