Degen Coin Flip:
Degen coin flip is a really basic game also known as heads up or like flipping a coin for 50/50 odds where you bet a certain amount of Solana to either lose it all or double what had you bet.
Degen Fat Cats
DeFi / Utility
Blockchain: Solana
Collection size: 20000
Mint date: 18/07/2022
Mint price: 10
Current floor price (ME): 2.4354 SOL
Total Listed (ME): 70
Total Sales (ME): 463,706.44 SOL
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About Degen Fat Cats
Degen Fat Cats:
Degen Fat Cats isn’t the regular NFT project that you come along scrolling through the 1000’s of projects out there. They are an NFT project that has made 2 games where you can gamble your Solana they are Degen Coin Flip and Degen Coin Dozer. When you play the games you are charged a 3.5% fee that is then airdropped back to Degen Fat Cat holders weekly.
Degen Coin Dozer:
Is a bit harder to explain but if you look at the picture below basically you drop coins onto the platform and if the dozer platform pushes coins off the front you win all of them and if none fall off the front or if they fall off the sides you don’t win.
Revshare:
So both of these games charge a 3.5% fee for any money used on the platform which is then split up between the team, Degen Fat Cat NFT holders and a legal contingency fund (I’m guessing because they are either unlicensed or are doing illegal rev-share or both).
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Pros:
Revshare seems to be pretty decent compared to most projects out there especially given this is a bear market and most people don’t have a heap of extra money to throw around i can see the rev share being much higher in a bull market.
There’s not a lot of moving parts or a lot of information to keep up to date with this project.
They are in talks with lawyers etc trying to figure out how to do things by the book with taxes and legalities around gambling sites.
Cons:
Potentially illegal gambling site and illegal Revshare could see the project shut down if they can’t figure out a way to do this legally.
I think growth for the project is really revolved around the ROI from Revshare.
Thoughts:
I love the idea of this project and is a bit of a breath of fresh air in the space having something so simple do so well. I just really hope they can find out a way to make this legal and a legit business as they have grown pretty large fairly quickly. I don’t advise investing money in things that aren’t legal and can be shut down at any minute.