Two of Solana’s largest NFT projects, DeGods and y00ts, have announced their migration from the blockchain to Ethereum and Polygon Network, respectively.
DeGods and y00ts take the top spots as Solana’s most traded and valued NFT collections. According to data from marketplace platform Magic Eden, the volume traded for both non-fungible token collections in the past month exceeds $21 million at press time.
However, on Twitter, both NFT projects announced their plans to migrate and expand to new blockchain networks next year.
DeGods, a crypto collection and global community of artists and creators focused on NFTs, informed its more than 133.500 followers that it will migrate to Ethereum in the first quarter of 2023. The developers of the crypto collection are working on the creation of a blockchain bridge that will allow them to officially connect their project to the Ethereum blockchain. They also indicated that the blockchain bridge will be made public after carrying out the necessary tests to guarantee its stability and security.
Meanwhile, the 15.000 NFT generative art project y00ts reported on its migration to the Polygon Network sidechain, Ethereum's main scalability solution in the blockchain ecosystem.
The migration of y00ts to the Polygon network will also occur in the first quarter of 2023 and will be done under the same conditions announced by DeGods; through a blockchain bridge that will be made public when it is ready and has passed all the necessary tests, the project indicated on Twitter.
The migration of both NFT crypto collections was confirmed by user @frankdegods (Frank III), creator of DeGods and y00ts.
On his official Twitter account, Frank III wrote that Solana is an incredible blockchain ecosystem and that the migration of two of its most important NFT projects to other blockchains has nothing to do with the current state of the blockchain. Rather, it is a move that points to the future, considering that Ethereum is one of the most robust chains in the ecosystem and that Polygon is considered the gateway for big brands to the world of Web3, attracting brands such as Disney, Starbucks, Nike, Mercedes-Benz, among others.
Solana has been one of the blockchain networks hardest hit by the cryptocurrency uncertainty this year. The market cap of SOL, its native cryptocurrency, has lost more than $49.300 billion since January, according to CoinMarketCap data.
SOL's decline has been accentuated since last month with the collapse of FTX, once considered the third most important exchange in the crypto industry.
At the time of this edition, the price of SOL is $ 11,31 dollarsThe Solana network cryptocurrency ranks 16th among the most capitalized in the market.
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