December 29, 2022

DeGods, Y00ts Collections to Leave Solana to Ethereum, Polygon

Degods

Degods

DeGods and Y00ts, two of the most popular NFT collections on Solana, are expected to leave the platform by the next year to migrate to Ethereum and Polygon.

DeGods will move to the Ethereum blockchain, while Y00ts will bridge to Polygon. The migration will finish by the first quarter of 2023, according to Coin Desk.

The team behind the two NFT projects revealed that their move came to boost their sales and give them more capacity to develop on additional blockchains.

In a Twitter space, Rohun Vora, known as Frank, the founder of the two projects, said: “There’s an argument to be made that [DeGods] has capped out on Solana. 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.”

Vora pointed out that bridging to Ethereum and Polygon, which will occur through the cross-chain bridge, is the most effective way to make the two NFT collections reach a larger audience among the NFT collectors. He also added that the NFTs holders are free to keep their digital collectibles on Solana if they want as the migration would be optional, not mandatory. 

Following the news, the sales of DeGods hiked, which gave a push for its floor price to reach around 566 SOL, according to Magic Eden. While the floor price of Y00ts became 153.9 SOL. It is worth noting that the sales of the two NFT collections represent nearly 70% of all Solana NFT sale volume. 

The Solana market is currently suffering because of its links with Sam Bankman-Fried and the fall of the FTX. The Solana token declined from $31 in November to $11.7 at the time of writing. 

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