Crypto

Top Solana NFT Projects DeGods & y00ts Announce Departure, Will Migrate To New Blockchains

Solana’s battles continue. The FTX fallout, that included stacks of speculation around the degree of Alameda Research direct exposure – which is thought to be in the numerous countless dollars – has actually relatively bled into the blockchain’s NFT scene, too.

Now, 2 of the prominent tasks in the Solana community have actually revealed their departures to brand-new chains – anticipated to be reliable early next year.

For Solana, When It Rains, It Pours

Solana has actually been probably the leading token of speculation surrounding FTX fallout. The token is sneaking it’s escape of the leading 25 in leading token market caps, which would’ve been a stunning discovery simply a year earlier – as SOL has actually long been a leading 10 token.

Token rate aside, Solana’s belief in the NFT neighborhood has actually been subsiding; for lots of months, DeGods and y00ts developer Frank has actually long teased relocating to brand-new chains. Just last month, NFT market Magic Eden – which began on Solana exclusively – revealed combination with Polygon.

While Solana’s momentum has actually subsided in current months, it’s still been the mostly thought about ‘#2 player’ behind Ethereum in the NFT area. However, according a new announcement on Christmas Day, 2 of the chain’s greatest NFT tasks, DeGods and y00ts, are headed to brand-new blockchains.

Solana's market cap supremacy (CRYPTOCAP:SOL.D) has actually taken a significant hit in current months. The NFT sector has actually been no exception. | Source: CRYPTOCAP:SOL.D on TradingView.com

New Year, New Look Blockchains

In the middle of the insanity, Polygon protects yet another NFT win here. The chain will be approaching y00ts with open arms, including the community-first NFT collection to an ever-growing list of more ‘corporate’ partners and hosts, consisting of Reddit, Starbucks, and yes – even Donald Trumps current NFT collection. After a series of institutional wins, Polygon now protects a more community-focused NFT collection win – and a considerable one at that.

Meanwhile, DeGods will be going up to Ethereum, aiming to take on ‘big dog’ blue chips that command the most volume in the NFT area. Frank, developer of DeGods and subsequent y00ts, launched numerous tweets on the matter, however none the more positive than this one:

Regardless for how it cleans for Frank’s particular tasks in their brand-new endeavors, there’s no doubt that this is a loss for the Solana NFT neighborhood. According to NFT collection information from CryptoSlam, both DeGods and y00ts have actually remained in leading 20 volumes over each time metric, not consisting of all-time (24 hr, 7 days, 1 month). They are the only Solana-based tasks to do so.

Both DeGods and y00ts are anticipated to make their particular migrations to brand-new chains in the very first quarter of 2023.



Michael Evans

Professional writer, editor, and producer with over a decade of experience. I'm an experienced editor who has written for a variety of publications, and I specialize in editing non-fiction articles, news, and business blogs.

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