The main NFT initiatives on Solana’s community, DeGods and y00ts, are leaving the blockchain. Within the first quarter of 2023, DeGods will bridge to Ethereum and y00ts to Polygon. The token $DUST shall be bridged to each blockchains.
DeGods wrote on Twitter that extra particulars of the bridge could be launched after it’s examined and prepared. The group claimed, “This has by no means been completed earlier than at this scale,” and reminded customers that it’s planning to launch a Season III roadmap subsequent month.
The founding father of the 2 NFT collections, Frank, didn’t say why he determined to go away Solana. However in a letter, he wrote:
“The Solana NFT ecosystem is unbelievable. We owe every little thing to the individuals right here.”
The NFT neighborhood took the information reasonably nicely. In keeping with information by OpenSea, DeGods noticed a 271% improve in 24-hour buying and selling quantity, whereas y00ts’ quantity rose by 388%. DeGods has a flooring worth of 790 SOL, and y00ts is at 215 SOL.
Solana has been struggling much more after the FTX fallout. Solana’s worth remains to be very low, at present standing at $11.30. Web3 initiatives have been turning away from the blockchain—the Solana NFT market Magic Eden lately built-in Ethereum and Polygon networks to keep away from being related to Solana-only transactions. Equally, Solana’s self-custody pockets Phantom added help for Ethereum and Polygon final month.
Contemplating DeGods and y00ts have been the 2 prime NFT initiatives on Solana, this sudden migration from the community is simply one other proof that web3 initiatives are turning away from Solana.
