Huge news has rocked the Solana ecosystem as DeGods and Y00ts, two popular NFT projects on the network, have announced a shift in blockchains. As confirmed on their official channels, DeGods will bridge to Ethereum in 2023, while Y00ts will head to Polygon.
DeGods will officially bridge to Ethereum in Q1 of 2023.
The bridge is not the destination.
It is on the path to get there. pic.twitter.com/Wy8CbGx5VZ
— DeGods III (@DeGodsNFT) December 25, 2022
A Major Move
The move will mark a major shift in the Solana collectibles market and will open up the much lauded NFTs to the benefits of the alternative networks. However, before making the move, users should note that this switch will impact not just the NFTs themselves but $DUST, the utility token attached to them. According to Frank III, the founder of both collections, this decision was brought on by a desire to explore more opportunities within the NFT ecosystem.
At the same time, it is no secret that Solana has had a challenging year, between multiple system failures and the effects of the FTX collapse. Therefore, while blockchains like Ethereum represent potentially higher fees for users, this might bring more stability and opportunity to the DeGods and Y00ts projects. However, as Frank III has also said, this migration will be opt-in so those who are particularly keen on Solana may continue to use it.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Tokoni Uti has written extensively on blockchain and cryptocurrency for years. Her work has appeared on sites like BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.
