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Two outstanding Solana tasks have introduced they’re transitioning over to new blockchains. The non-fungible token (NFT) enterprise Degods detailed it is going to be transferring to the Ethereum chain and the Y00ts NFT crew detailed it’s transferring to Polygon. Each groups mentioned the transitions will happen in 2023.
Degods Says NFT Venture Will Transfer to Ethereum, Y00ts Particulars NFT Enterprise Is Transitioning to Polygon
The crypto group has been discussing two crypto tasks which have mentioned the groups plan to transition their ventures from the Solana blockchain community to another blockchain. Degods is one NFT venture that exposed on Twitter it was transferring from Solana to the Ethereum community. Launched in October 2021, Degods is an NFT enterprise that created 10,000 deflationary PFP (profile image) NFTs. On Twitter the Degods crew mentioned:
Degods will formally bridge to Ethereum in Q1 of 2023. The bridge will not be the vacation spot. It’s on the trail to get there.
Apparently, the crew behind the Y00ts NFT assortment mentioned it plans to transition over to the Polygon community. “Y00ts will formally bridge to [Polygon] in Q1 2023,” the official Twitter account tweeted on Dec. 25, 2022. The selections to transition the 2 NFT tasks from one chain to a different come at a time the place the Solana venture itself has been harm by its former relationships with FTX.
Solana’s native crypto asset solana (SOL) is down 94.2% year-to-date and over the past 30 days SOL has misplaced 19.7% towards the U.S. greenback. Final yr, SOL was a prime ten crypto asset however the digital forex has been struggling to carry the 18th largest market cap place in more moderen instances. Seven-day stats present that Solana’s NFT gross sales are nonetheless the second largest out of 19 completely different blockchain networks, in keeping with cryptoslam.io information.
Whereas Ethereum dominated the final seven days of gross sales with $129.12 million out of the $154 million in gross sales, Solana took the second place with its $14.65 million in NFT gross sales recorded this previous week. In the meantime, Polygon holds the fourth-largest place when it comes to NFT gross sales with $2.38 million.
Defillama metrics reveals that there’s $39.42 billion whole worth locked (TVL) in decentralized finance (defi) at this time and Solana instructions the twelfth largest TVL in defi. Solana’s TVL on Dec. 26, 2022 is $216.39 million which equates to 0.55% of all the TVL locked in defi. Apparently, the tweets from Degods and Y00ts say the identical factor as each groups point out transitioning “has by no means been carried out earlier than at this scale.”
What do you consider the 2 NFT tasks transitioning from Solana to completely different blockchain networks? Tell us what you consider this topic within the feedback part under.
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