DeGods and Y00ts: move to Ethereum & Polygon

Stay Tuned with MEXC Global 

Two non-fungible token (NFT) projects, DeGods and Y00ts, both announced their departure from the Solana network on Twitter on December 25. DeGods and Y00ts, two of the top NFT projects on Solana, will transfer to the Ethereum blockchain and the Polygon blockchain, respectively, in Q1 2023.

Chain Migration: Solana-based NFT Projects DeGods and Y00ts to Ethereum and Polygon (Image source: Magic Eden)Chain Migration: NFT Projects DeGods and Y00ts (Image source: Magic Eden)


Rohun Vora, the project manager for DeGods, said in a Monday Twitter Space that it was difficult to admit that DeGods might not develop on Solana at the anticipated rate. The group must transfer it to the Ethereum blockchain if that's the only way for it to keep expanding swiftly. As of this writing, DeGods have a floor price of 490 SOL (or $5,327). The sister picture for proof (PFP) collection, Y00ts, has a floor price of 156.11 SOL (about $1,697), according to data on Magic Eden.

The decision was opposed by a few Solana NFT developers, but the collection's owners mostly supported it. A controversy that raged on NFT Twitter for months preceded the choice. Rumor has it that the DeGods team requested $5 million from the Solana Foundation at the Miami Art Basel festival in the first week of December in order to continue using the Solana platform. The DeGods group denies the rumors.

Polygon's Success

According to a spokeswoman for DeGods, Polygon paid Y00ts for the connection, and more details would be revealed soon, according to a CoinDesk report. On Polygon's list of successful alliances, the action is the most recent.

Last year, a number of well-known corporations, including Starbucks (SBUX), Nike (NKE), Instagram, and Reddit, joined the layer-2 blockchain. DeGod's transition to Ethereum and Polygon may be challenging on the back end. Such well-known NFT "branches" are uncommon.

Many projects that migrate to several blockchains do so in the manner that Doodles is recommending, where it will continue to use Ethereum for its current collection while establishing Doodles 2 on a layer 2 blockchain. According to the developers, the Y00tpoints token, which is provided to Y00ts holders who wager their NFTs, will also move chains. The migration's technical specifics are still under wraps.

Final Reflections

Will DeGods and Y00ts perform better on the new blockchains? Can they overcome the technical issues? Chain migration excites me to watch how it plays out. NFT has gained a lot of attention in the cryptocurrency community. Former president Donald Trump just unveiled his own NFT line. Buyers may get the option to play golf or have dinner with him.

 

Quia iste quia rem dicta. Iusto dolorem cumque delectus perspiciatis aut laborum. Quia quam mollitia quasi asperiores.

Cupiditate eum error cumque repellendus repellendus omnis at. Et labore quasi cumque est aut id. Iusto assumenda perferendis unde repudiandae dolores.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”