The exodus is on for Solana-based NFT tasks as two of its huge names are transitioning to Ethereum and its sidechain Polygon.
Judging by how Solana and its native token have struggled for the reason that onset of the bear market, this comes as no shock. The community has endured a number of outages and has been closely affected by the downfall of FTX.
The 2 tasks are Degods, which is shifting to Ethereum, and Y00ts, which is bridging to Polygon. Each tasks belong to Mud Labs, and the transitions are set to happen in early 2023. In keeping with undertaking chief FrankDeGods, it’s a solution to “discover new alternatives.” Thus, they’re taking “a calculated threat.”
In a tweet, Y00ts notes that “the main points of the bridge can be launched when it’s prepared & examined. This has by no means been performed earlier than at this scale. We need to ensure that it’s hermetic. Within the meantime, we can be releasing a extra formal roadmap for y00ts: Season 2 in January.”
If their tweets are something to go by, the Mud group seems to be excited by the choice. In another tweet from the Y00ts account, the undertaking notes “coming for the thr00ne” with The Boys characters Homelander and Billy Butcher watching one another. On the video, you possibly can see the phrases “No. 1 ETH undertaking and No. 1 Polygon undertaking (Degods/Y00ts) inscribed.”
That stated, the DUST token will nonetheless be used to bind the 2 communities and can transfer to each blockchains. Additionally, all of the factors collected from holding respective NFTs can be utilized on an upcoming launchpad.
Blended Reactions After 2 Main NFT Initiatives Transfer To Competing Blockchains
The information was met with blended reactions throughout the NFT community. Some had been excited, whereas others noticed it as a betrayal of Solana. Nevertheless, Frank assures community members that the choice emigrate shouldn’t replicate badly on the Solana ecosystem.
The subsequent 24 hours after the announcement noticed DeGods’ buying and selling quantity soar by over 200% whereas Y00ts grew by over 240%.
