Degen Dogs NFT: What It Is, How To Buy, And Earn With DAO

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Degen Dogs is an NFT project that merges decentralized finance (DeFi) with non-fungible tokens (NFTs), offering holders unique benefits. Each of the 1,001 dog-themed NFTs is auctioned individually, with proceeds invested into DeFi protocols to generate yield. This yield is then streamed back to NFT holders over a 365-day period, providing a continuous income stream. Additionally, owning a Degen Dog grants membership in the project's decentralized autonomous organization (DAO), allowing participation in governance decisions and future developments.

Degen Dogs is a unique collection of non-fungible tokens (NFTs) consisting of 1,001 digital images of dogs in a pixel style. Each token has its own features and accessories, making it unique and valuable among collectors. The project combines elements of digital art and decentralized finance (DeFi), allowing owners to earn income from investments within the community.

One of the key features of Degen Dogs is the governance model through a decentralized autonomous organization (DAO), where NFT holders decide on the future of the project. Thanks to the original concept, transparency and earning opportunities, Degen Dogs has attracted the attention of both novice investors and experienced crypto market participants. Let's take a closer look at the Degen Dogs collection, how it works and what opportunities it opens up for its owners.

Risk warning: Cryptocurrency markets are highly volatile, with sharp price swings and regulatory uncertainties. Research indicates that 75-90% of traders face losses. Only invest discretionary funds and consult an experienced financial advisor.

History and origin of Degen Dogs

According to the official documentation, Degen Dogs emerged as a finalist and winner of the ETHOnline 2021 Hackathon, showcasing its innovation and technical sophistication. However, the specific names of the creators remain undisclosed. The project's founder, known as “dogMaster”, is entitled to receive one out of every 11 tokens from the first 420 minted Degen Dogs, totaling 38 tokens. While the documentation currently mentions a single founder, it acknowledges the possibility of adding more founders in the future.

<span translate="no">Degen Dogs</span> NFT

Degen Dogs NFT

Ideology and concept of Degen Dogs

The Degen Dogs project blends non-fungible tokens (NFTs) with decentralized finance (DeFi), offering a community-centered experience where digital art intersects with financial innovation. Drawing inspiration from successful NFT initiatives like CryptoPunks and Nouns, the project introduces a model where each of the 1,001 unique pixelated dog images is auctioned to the highest bidder. The proceeds from these auctions are then invested in DeFi protocols to generate yield, which is subsequently distributed among token holders. This dual-purpose structure encourages community engagement while providing participants with passive income opportunities.

Launch and development milestones

ETHOnline Hackathon Recognition (2021). Degen Dogs was recognized as a finalist and winner at the 2021 ETHOnline Hackathon. The project gained attention for its innovative approach to combining NFTs with decentralized finance (DeFi).
Auction mechanism implementation. The platform introduced a unique auction system in which each of the 1,001 NFTs is sold individually. Proceeds from these auctions are strategically allocated. Fifty percent is streamed to existing NFT holders over the course of a year using Superfluid. Ten percent is donated to charitable causes such as Unchain Ukraine. The remaining funds are directed to the community-governed treasury through the Degen Dogs DAO.
Integration with DeFi platforms. The project invests auction proceeds via Idle Finance to generate yield. The returns are redistributed to benefit both the community and the ongoing development of the platform.
Community engagement and token distribution. Degen Dogs actively promotes community participation by distributing Dog Biscuits (BSCT) tokens to all auction participants. This not only rewards involvement but also emphasizes the importance of community in the project’s broader ecosystem.
Streamonomics model. A major advancement was the introduction of a continuous distribution mechanism where holders receive $WOOF tokens over 90 days. This real-time streaming system promotes long-term commitment and enhances the economic sustainability of the platform.
Evolution of the project. What began as an NFT-DeFi experiment has grown into a robust platform that integrates digital art, community governance, and DeFi infrastructure — all while maintaining decentralization at its core.

How Degen Dogs NFTs work

Degen Dogs is an exclusive NFT project designed as the first digital casino and social club accessible only to its holders. The collection features 5,555 one-of-a-kind pixel art dog NFTs, each minted on the Ethereum blockchain. These tokens offer more than collectible appeal — they serve as access passes to a members-only ecosystem filled with games, rewards, and community interaction.

NFT collection dynamics

Each NFT acts as a digital companion that rewards its owner with 5 $TREATS tokens daily. These tokens function as the in-house currency for the Degen Dogs Grand Casino & Social Club, allowing holders to participate in games like roulette, blackjack, and more. Winning with $TREATS can unlock additional NFTs, merchandise, and even real-world rewards. This utility-driven model turns NFT ownership into a gamified, interactive experience that goes beyond static art.

Rarity and value of tokens

The limited supply of 5,555 NFTs ensures built-in scarcity, supporting long-term collector interest and value. Each token is uniquely generated with distinctive traits and visual elements, contributing to its individual rarity. The added layer of earning potential through $TREATS tokens, combined with exclusive access to the club and community perks, positions Degen Dogs as a compelling choice for collectors and NFT investors who want both art and ongoing utility.

How to buy or sell Degen Dogs

<span translate="no">Degen Dogs</span> trading at OpenSea

Degen Dogs trading at OpenSea

To buy or sell NFTs from the Degen Dogs collection, it is recommended to use trusted marketplaces like OpenSea. OpenSea is one of the largest platforms for trading digital assets, offering secure and user-friendly transactions. The Degen Dogs collection is available at the following links:

Create a cryptocurrency wallet

Install and set up a wallet compatible with Ethereum, such as MetaMask.

Fund your wallet

Purchase Ethereum (ETH) from a cryptocurrency exchange and transfer it to your wallet.

Connect to OpenSea

Go to the OpenSea website and connect your wallet by following the platform’s instructions.

Browse and choose your NFT.

Explore the Degen Dogs collection and select the NFT you wish to purchase.

Make the purchase

Click “Buy Now” and confirm the transaction using your wallet. The NFT will appear in your OpenSea profile upon completion.

Sell your NFT

To sell an NFT, go to your profile on OpenSea, select the NFT, and click “Sell.” Set your desired price and listing conditions, then confirm the transaction.

Earnings and participation in Degen Dogs DAO

Degen Dogs DAO is a decentralized autonomous organization that governs the direction and treasury of the Degen Dogs project. It enables NFT holders to participate in decision-making processes related to project development, fund allocation, and strategic initiatives. Each Degen Dogs NFT automatically grants its holder membership in the DAO, giving them voting power and influence over the project’s future.

How revenue is distributed

Degen Dogs integrates DeFi mechanisms to generate passive income for its community. After each auction, the revenue is converted to DAI using Uniswap and deposited into Compound Finance, where it begins to accrue interest. The generated yield is then distributed according to a structured model:

10% goes to the owner of the newly sold Degen Dog, streamed over 365 days.
40% is shared equally among all current Degen Dog holders, also over a 365-day period.
20% is allocated to the owner of the dog sold 10 places before the current one (e.g., the buyer of Dog #1 receives a share from the sale of Dog #11).

The remaining funds are sent to the DAO treasury for collective management and reinvestment.

The role of NFT holders in project governance

Holders of Degen Dogs NFTs play a direct role in governance through the DAO structure. With ownership comes the right to vote on proposals that shape the project. This includes:

Determining how treasury funds are invested or allocated.
Proposing or voting on ecosystem upgrades and features.
Making decisions on broader community and strategic initiatives.

This governance model ensures that Degen Dogs remains community-driven and decentralized, giving each NFT holder meaningful influence over both the financial and creative trajectory of the project.

The combination of innovative financial mechanisms and active community participation makes Degen Dogs DAO a unique model of interaction in the NFT and DeFi space. This concept provides digital asset owners with opportunities to earn income and influence the development of the project.

Prospects and development of Degen Dogs

Future plans and updates

According to statements on the official Twitter account, the Degen Dogs project intends to enhance its platform by introducing new interactive features for NFT holders. Plans include integrating additional DeFi tools to provide community members with diverse income streams. Additionally, the team is exploring the release of new collections to expand the Degen Dogs universe, offering unique benefits to both current and prospective token holders.

Partnerships and collaborations

The project is actively seeking partnerships with other blockchain and NFT initiatives. The goal of these collaborations is to create synergy between communities, share technologies, and expand the Degen Dogs ecosystem. Recent announcements on the official Twitter account indicate ongoing discussions with notable DeFi platforms and digital artists for joint projects and cross-promotions.

Expert forecasts and user feedback

Experts in the NFT and decentralized finance sectors have noted Degen Dogs' innovative approach to integrating art with DeFi mechanisms. They highlight the project's potential in establishing a sustainable income model for community members. Users on social media express satisfaction with the project's current trajectory, commending the team's transparency and active engagement with the community through platforms like Discord and Twitter.

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Where your yield comes from matters more than the yield itself

If you're evaluating yield potential in a DAO-based NFT project like Degen Dogs, stop focusing only on token rewards and start tracking the source of that yield. In Degen Dogs, for instance, proceeds from NFT auctions are streamed to holders over time using Superfluid. But the real insight lies in watching where the DAO deploys those funds — such as Idle Finance or other DeFi protocols. Yield isn’t just about APR numbers — it’s about understanding the risk/reward of those DeFi strategies. Always check if the treasury is putting capital into diversified, sustainable protocols or simply chasing volatile yield farms. That’s where most newcomers miss the mark.

Another edge lies in tracing treasury governance behavior. Don’t just read the DAO pitch — dig into past votes. Did they vote to reinvest yield? Did they redirect funds to community rewards or charity? Degen Dogs' Streamonomics rewards are directly shaped by community governance. So your passive income is only as smart as the people voting on it. Before you ape in, scan the DAO’s proposals and Discord discussions. Projects with active, thoughtful governance are more likely to maintain — and grow — yield over time. It’s like buying into a dividend-paying stock, but the board of directors is the holders themselves.

Conclusion

Degen Dogs stands out as a thoughtfully designed project that blends NFT art, DeFi yield mechanics, and decentralized governance through DAO participation. Its structured revenue-sharing model and commitment to community involvement give it substance beyond visual appeal. For investors seeking a project that offers both creative engagement and financial utility, Degen Dogs presents a well-rounded proposition. However, as with any blockchain-based asset, price volatility and market risks remain factors to consider. Prospective buyers should carefully review the project’s tokenomics, join the community on Discord or Twitter, and monitor ongoing updates before making a purchase. Long-term value is likely to depend on sustained development, community growth, and continued innovation.

FAQs

How can I track real DAO activity in projects like this?

Review voting histories: check how often proposals are submitted, how many users vote, and what topics are discussed. A healthy DAO is transparent, engages its members, and publishes regular updates.

What should I do if the project’s yield suddenly drops?

Investigate where funds are allocated — changes in the underlying yield strategy may explain the decline. A drop in returns could signal the need to reassess your involvement.

Can I diversify risk when investing in yield-generating NFTs?

Yes, by spreading investments across multiple NFT projects with different income models and payout timelines. Also, consider the liquidity of each NFT on the secondary market.

How do I know if an NFT has value beyond its original project?

Check if the NFT has utility across different platforms, such as games, virtual environments, or external protocols. Broader use cases often support long-term demand.

Team that worked on the article

Maxim Nechiporenko has been a contributor to Traders Union since 2023. He started his professional career in the media in 2006. He has expertise in finance and investment, and his field of interest covers all aspects of geoeconomics. Maxim provides up-to-date information on trading, cryptocurrencies and other financial instruments. He regularly updates his knowledge to keep abreast of the latest innovations and trends in the market.

Learn about our editorial policies

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

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