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Editing by Nathaniel Cajuday
- Two top-performing Solana NFT collections, DeGods II and y00ts, are set to move to Ethereum and Polygon in early 2023.
- The founder of the two collections has said that the move is a risk and “nothing is promised.”
- Solana co-founder Anatoly Yakovenko has said that he has a “bittersweet” reaction to the migration of the NFT projects.
Two of the well-known non-fungible token (NFT) collections on the public blockchain platform Solana are set to enter the Ethereum and Polygon ecosystems next year.
The two top-performing Solana NFT collections, “DeGods II,” which is currently the number 1 collection in Solanart, and “y00ts,” which comes in second, announced their bridging plans last December 26. DeGods will be moving to Ethereum, and y00ts will be moving to Polygon in the early first quarter of 2023.
According to the founder of the two collections, Rohun Vora (widely known as FranK III), although the move is receiving bullish comments from their supporters, he still noted that the move is a risk and “nothing is promised.”
“I will not support any negativity or condescending behavior towards the Solana ecosystem… The Solana NFT ecosystem is incredible. We owe everything to the people here,” Frank stressed.
On the other hand, Solana co-founder Anatoly Yakovenko expressed his “bittersweet” reaction to Frank’s NFT collections migration in a Twitter thread:
“It would be awesome for them to 100% focus on @solana. But reality is that these projects want to conquer the world. But so does the @solana community!” (Read more: Solana Guide and Usecases | How to Buy SOL in the Philippines)
In the meantime, Vora confirmed that the two NFT projects will still remain on Solana, but the bridge migration will be owner-opted-in.
Launched in October 2021, De Gods NFT is a 10,000-piece profile picture (PFP) NFT collection in Solana.
As of this writing, its total trading volume is 1.14 million SOL (around ₱707 million). The collection was so successful that last April, its decentralized autonomous organization (DAO) purchased a professional basketball team in Ice Cube’s Big3 League.
“The details of the bridge will be released when it’s ready and tested. This has never been done before at this scale. We want to make sure that it’s airtight. In the meantime, we will be releasing the Season III roadmap in January (for real this time),” DeGods tweeted.
This year, the Ethereum Mainnet transitioned from proof-of-work (PoW) to a fully proof-of-stake (PoS) consensus mechanism after the event – Ethereum Merge – has been completed. The transition aimed to reduce the blockchain’s energy consumption by 99.95%–which will lessen its carbon footprint. (Read more: Is Ethereum Decentralized?)
y00ts is a sister project of DeGods and is a collection of generative art with 15,000 NFTs. It has a curated community of builders and creators called y00topia.
According to the data from Solanart, its total trading volume as of this writing was 860,060 SOL (around ₱534 million).
Unlike DeGods’ move, y00ts’ migration to Polygon was paid for by the blockchain with a grant from its partnership fund. However, the details of their deal are still not out, but Frank assured that they will be made public eventually.
Frank also added that the Polygon grant will last “one year, maybe two,” as it was not paid upfront.
Currently, the details of the collection’s technical elements have not yet been announced, but the team has said that y00tpoints, a token given to y00ts holders who stake their NFTs, will transfer chains as well.
Just this year, Polygon was chosen by industry big names to mint their collections.
Last July, media and entertainment giant Disney chose Polygon as one of its six accelerators.
In September, world-renowned coffee shop Starbucks partnered with the blockchain to build its Web3 experience, Starbucks Odyssey.
This article is published on BitPinas: Top Solana NFT Collections to Set Foot in Ethereum, Polygon by 2023
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.