2 NFT Projects Strategy to Shift From Solana to Option Blockchains– Bitcoin News
2 popular Solana tasks have actually revealed they are transitioning over to brand-new blockchains. The non-fungible token (NFT) endeavor Degods detailed it will be relocating to the Ethereum chain and the Y00ts NFT group detailed it is relocating to Polygon. Both groups stated the shifts will occur in 2023.
Degods States NFT Task Will Relocate To Ethereum, Y00ts Particulars NFT Endeavor Is Transitioning to Polygon
The crypto neighborhood has actually been talking about 2 crypto tasks that have stated the groups prepare to shift their endeavors from the Solana blockchain network to an alternative blockchain. Degods is one NFT task that exposed on Twitter it was moving from Solana to the Ethereum network. Introduced in October 2021, Degods is an NFT endeavor that produced 10,000 deflationary PFP (profile image) NFTs. On Twitter the Degods group stated:
Degods will formally bridge to Ethereum in Q1 of 2023. The bridge is not the location. It is on the course to arrive.
Remarkably, the group behind the Y00ts NFT collection stated it prepares to shift over to the Polygon network. “Y00ts will formally bridge to [Polygon] in Q1 2023,” the main Twitter account tweeted on Dec. 25, 2022. The choices to shift the 2 NFT tasks from one chain to another come at a time where the Solana task itself has actually been harmed by its previous relationships with FTX.
Solana’s native crypto possession solana (SOL) is down 94.2% year-to-date and over the last 1 month SOL has actually lost 19.7% versus the U.S. dollar. In 2015, SOL was a leading 10 crypto possession however the digital currency has actually been having a hard time to hold the 18th biggest market cap position in more current times. Seven-day statistics reveal that Solana’s NFT sales are still the 2nd biggest out of 19 various blockchain networks, according to cryptoslam.io information.
While Ethereum controlled the last 7 days of sales with $129.12 million out of the $154 million in sales, Solana took the 2nd position with its $14.65 million in NFT sales tape-recorded this previous week. On the other hand, Polygon holds the fourth-largest position in regards to NFT sales with $2.38 million.
Defillama metrics reveals that there’s $39.42 billion overall worth locked (TVL) in decentralized financing (defi) today and Solana commands the 12th biggest TVL in defi. Solana’s TVL on Dec. 26, 2022 is $216.39 million which relates to 0.55% of the whole TVL secured defi. Remarkably, the tweets from Degods and Y00ts state the exact same thing as both groups discuss transitioning “has actually never ever been done in the past at this scale.”
What do you consider the 2 NFT tasks transitioning from Solana to various blockchain networks? Let us understand what you consider this topic in the remarks area listed below.
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