Solana’s NFT projects y00ts and DeGods will move to Polygon and Ethereum respectively in 2023. This news was confirmed on Twitter on Sunday.
DeGods and Y00ts
While details are scarce, both projects said more information about the bridge will be released when it is ready and tested, as they want to make sure the bridge is watertight.
DeGods will officially bridge to Ethereum in Q1 of 2023.
The bridge is not the destination.
It is on the path to get there. pic.twitter.com/Wy8CbGx5VZ
— DeGods III (@DeGodsNFT) December 25, 2022
In the meantime, y00ts will release its roadmap for the second season in January, while DeGods will release its roadmap for the third season in the same month.
“You can argue that DeGods has run out of Solana,” project lead Rohun Vora, known as Frank, said in a Twitter space on Monday. “It’s hard to accept, but it’s been hard to grow at the pace we want to. If Ethereum is where we need to go to keep growing, that’s what we need to do.”
In September, Dust Labs raised $7 million to build DeGods’ native token, $DUST. The company is reportedly creating an NFT incubator, according to crypto and Web3 blogger JToyts, who responded to Twitter influencer Crypto King’s question, “Why bridge one to eth and one to matic?” However, a Google search for more information on the NFT incubator yielded no verifiable results.
They’re creating a NFT incubator and points give you WL and tokens to mint those projects. Consistent mints on ETH gets expensive with gas fees, Polygon fees are much less allowing you to utilize their tech more. That and diversify from single point of failure in floor price
— JToyts (@JToyts) December 26, 2022
Y00ts might have chosen to bridge to Polygon not only because of its low cost and scalability, but also because of the reputation it has forged as a Layer 2 blockchain on Ethereum.
In recent months, Polygon has partnered with well-known names and popular platforms.
For example, social aggregation site Reddit chose to build its “collectible avatars” on Polygon. As of this month, more than 5 million avatars have been purchased, while 306,000 Reddit users (7.7% of headlines) own an average of 3.4 avatars per user.
In September, Starbucks announced its NFT loyalty program on Polygon and recently opened it up for beta testing.
The decision by y00ts and DeGods to migrate to other blockchains bodes ill for Solana, which has taken a hit since FTX collapsed last month.
The project’s founders, Frank and Kevin, gave no reason for leaving the Solana ecosystem.
About DeGods
DeGods is the best performing NFT project in Solana. Since the announcement of its bridge to Ethereum, the project has seen an increase in sales volume. According to CryptoSlam, DeGods generated $1,627,780 in sales volume today.
One buyer spent about 9,055 SOL ($103,740) on 20 DeGods NFTs during an 18-hour period. So far, DeGods this month has earned a total sales volume of $7,460,557.41.
About y00ts
Born out of Dust Labs, the NFT software company founded by Frank and Kevin, founders of DeGods, y00ts is a relatively new NFT project that launched in September.
Unlike DeGods, y00ts did not experience an uptick in sales after announcing it would move to Polygon. December is its worst performing month, with only $1,192,224 in total sales so far compared to the $7,742,769 the project raised last month, according to CryptoSlam.
Earlier this year, Solana had its second inside the highlight as a competitor to Ethereum, although it has struggled with its truthful share of hacks and DDoS assaults main to terrible community performance.
Following the FTX fallout in November, SOL’s value has plummeted more than 60% and currently trades at around $12 at the time of writing.
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