Digital asset company DeLabs, the parent company of its well-known non-fungible token (NFT) series DeGods, has recently been slightly criticized by the crypto community for its low distribution of Wormhole tokens. This slight backlash caused the base price of the DeGods NFT series to drop by 14% in a few hours.
This is a good view.
But I’m not pessimistic about our community because of our response.
This shows that our community cares. This is rare.
I believe this storm will resolve and people will stop being upset because of the excitement.
From the attention/marketing we received today…
On March 7, Wormhole, a cross-chain protocol, announced the launch of governance tokens for its users on various blockchain networks. Some of the beneficiaries include users on Ethereum, Solana, and many other blockchain networks.
According to the news released on its website, Wormhole expects to provide more than 400,000 unique wallets in its multi-chain community and distribute at least 617,000,000 free crypto tokens $W. Among them, 500 million tokens will be distributed to crypto users who use the Wormhole application on more than 30 eligible chains, and the rest will be distributed to users of other applications and crypto communities.
As a result, the cross-chain protocol has launched an airdrop checker for users to see if their crypto wallet is eligible to receive governance tokens. According to Wormhole, the newly airdropped tokens will be available as Solana SPL-20 and ERC-20 token standards.
These governance tokens are also available on more than 30 blockchain networks, including Base and Ethereum extension blockchain networks such as Arbitrum, Polygon, and Optimism. Other networks include Avalanche, Aptos, BNB Chain, and Sui.
Meanwhile, the list of eligible applications for the Wormhole token airdrop includes the Solana wallet exchange, Backpack, and decentralized finance aggregator Jupiter, among others. NFT projects Mad Lads, DeGods, and y00ts are also on the list, along with users of the Wormhole Discord and other communities.
The DeGods and y00t communities expressed dissatisfaction on X (formerly Twitter) over the recent distribution of Wormhole’s governance crypto tokens. DeGods is a series of 10,000 limited edition NFTs, while y00ts is a series of 15,000 fixed edition NFTs.
Many DeGods and y00ts NFT holders complained that they received low amounts of crypto tokens, contrary to their expectations. In response to these complaints, CEO Frank DeGods indirectly stated that he was not responsible for the low $W distribution.
Meanwhile, the DeGods community’s dissatisfaction with X led to a drop in the reserve price of the DeGods NFT. According to blockchain data aggregator Coingecko.com, the reserve price of the DeGods NFT dropped by 14% from 2.29 ETH on March 6 to 1.96 ETH on March 7.
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