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    Home»News»Solana Top NFT Projects, DeGods and y00ts Migrate to Ethereum and Polygon
    News

    Solana Top NFT Projects, DeGods and y00ts Migrate to Ethereum and Polygon

    Anietie DavidBy Anietie DavidDecember 28, 2022Updated:December 28, 2022No Comments2 Mins Read
    Solana Top NFT Projects, DeGods and y00ts Migrate to Ethereum and Polygon
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    DeGods and y00ts – have announced their departure from Solana and revealed that they would be migrating to Ethereum and Polygon.

    After months of speculation that DeGods and Y00ts, two of the top Solana non-fungible token (NFT) projects, would be leaving the Solana network, the team behind the projects confirmed the migration on Twitter on Sunday. The team announced that DeGods would transfer to the Ethereum blockchain and Y00ts will transfer to Polygon at the beginning of 2019.

    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

    “There’s an argument to be made that [DeGods] has capped out on Solana,” the project’s leader, Rohun Vora, known as Frank, said in a Monday Twitter Spaces. “It’s hard to accept, but it’s been tough to grow at the rate we want to grow. If Ethereum is where we have to go to keep growing, it’s what we have to do.”

    Months of conflict on NFT Twitter preceded the decision, with several developers in the Solana NFT sector criticizing the withdrawal while the collection’s owners generally applauded it.

    DeGods and y00ts the Biggest Solana NFT Projects

    The collections are two of the buzziest in the Solana NFT market, with DeGods commanding a 515 SOL (around $5,750) floor price at the time of writing, the largest in the ecosystem. Y00ts, DeGod’s sister PFP collection that was released this fall, has a 148 SOL (around $1,660) floor price.

    Sales of DeGods rose following the news, with the collection’s floor price increasing 12% as of Monday. Sales for Y00ts have stayed relatively calm, with the floor price increasing just 5 SOL (around $55). In the week leading up to the announcement, sales of DeGods and Y00ts accounted for nearly 70% of all Solana NFT sale volume, according to data from Magic Eden.

    In early December at the Art Basel festival in Miami, rumors circulated that the DeGods team asked the Solana Foundation for $5 million to stay on the Solana platform. The DeGods team denies the claim. While Polygon reportedly coughed up $5 million to bridge y00ts, the amount Ethereum paid is unknown.

    Blockchain DeGods NFTs Solana NFTs y00ts
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    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

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