Thread by @DoctorJayPeg

Seems to be a lot of game theory at play surrounding how to think about the t00bs for @y00tsNFT. Even many @DeGodsNFT holders seem to be torn on what the right move is. Art reveal NFTs can be complicated. Luckily I’ve researched dozens of art reveal NFT so you don’t have to

A 🧵

First off I want to clarify how t00bs will work.

1. They are separate NFTs that will not automatically become y00ts

2. One can hold a t00b forever without swapping it for a y00t

3. Each deadgod will be able to mint a t00b

4. Deadgods can go forever without claiming their t00b

So what does this mean?

1. The # of deadgods with unclaimed t00bs + # of t00bs + # of y00ts = 15k (y00ts collection size)

2. There will likely be deadgods months down the line that have yet to claim their t00b.(Happened with bayc and mutants)

3. t00b price will vary from y00ts

Why will t00b price vary?

To answer this I will first have to explain why floors typically fall after the art reveal.

Short answer? Upside.

A t00b doesn’t just represent a y00t. It represents any yet to be claimed y00t in the collection. It’s a classic mystery box situation.

A t00b provides the ability/upside to mint a rare trait or 1/1 that is lost as soon as it is swapped and a “common” or “floor” y00t is received back. In theory the value of a t00b is as follows:

Total value of all y00ts yet to me minted/total # of y00ts yet to be minted.

Here is an example.
3 y00ts yet to be minted

Their market values would be 200 sol, 200 sol, 600 sol (2 floor and a rare)

The value (and likely floor) of the t00bs would be (200+200+500)/3 or 333.33 Sol (🧐 doesn’t that look familiar).

But what is actionable here you ask?

This information should work as your guide based on what you want to do going in.

1. If you want to take some profits there will likely be a path where you can sell your t00b and buy back a floor y00t for less (basically selling your mystery box upside).

2. If you use your t00b to mint a y00t you are not happy with. You can look to sell for a price above what the t00bs are trading at. I would consider this an arbitrage opportunity as you exercised the upside potential, lost, and now are able to back track and try again.

3. If you claim a deadgod t00b, You can play the game of claimed deadgod floor + t00b floor > unclaimed deadgod floor. They should in theory be equal but the market has a funny way of shaking out. This would be considered another arbitrage opportunity. (They did arise with BAYC)

4. If you have a claimed deadgod another ratio to watch will be claimed deadgod floor + y00ts floor >= or even slightly < unclaimed deadgods floor. This will also provide opportunity to buy back the t00b upside potential and may be worth it even if the swap is slightly costly.

2 things to call out that could make the y00ts floor higher than t00bs

1. @frankdegods and team have immediately utility for y00ts that t00bs done receive

2. Every influencer in the community sets y00ts as pfp and drives outsized demand by those that don’t know t00b mechanics

I wrote this thread on the bus and am sure I missed a few things so please feel free to make any call outs below. If you enjoyed the thread I would appreciate a RT as I am just getting into these. I hope to see you all in y00topia.

#y00ts #y00tsNFT #SolanaNFT #NFT #Solana