Solana Blockchain to Become Less Attractive as Two NFT Projects Jump Ship

Although things were not going smoothly for the Solana blockchain since the beginning of 2022, it was something felt by the entire crypto industry.

Just when the Solana blockchain thought it will be able to get through the difficult situation like the rest of the networks, it was hit by the FTX crash.

Despite facing no direct impact due to the FTX crash, the Solana blockchain became a victim of hatred by investors. This is because the FTX exchange was a huge supporter of the Solana blockchain.


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The former CEO of the (now) bankrupt exchange, FTX had supported the Solana blockchain financially as it was launched a few years back.

As the network had strong ties with the FTX brand, it ended up taking a negative reaction from the entire crypto industry. The investors started to withdraw their funds from the Solana-based currencies.

They feared that the Solana blockchain would shut down as well but it has not happened. People have become too sensitive after the FTX crash and it is going to take a while until they trust the Solana blockchain.

However, the projects that are already running on the Solana blockchain are also paying the price due to the FTX crash. They do not want anything to do with it because they were never involved in any of that.

Therefore, some of the projects based on the Solana blockchain have decided to move away from the network. They have announced that they will be leaving the Solana blockchain and going with more stable networks.

Y00ts and DeGods Announce their Parting

While many projects are thinking about moving away from the Solana blockchain, two major projects have made official announcements on the matter.

Y00ts and DeGos are projects that are oriented toward the non-fungible token (NFT) industry. They have been working in the collections segment for digital arts that are commonly referred to as NFTs.

Both firms have announced that they will be leaving the Solana network and will be moving to other networks.

The officials at Y00ts have confirmed that they are going to move to the Polygon blockchain, forming a bridge with their network.

On the other hand, DeGods has confirmed that they will be jumping to the Ethereum blockchain in the upcoming days.


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The teams from both projects have confirmed that they have already gone through all the aspects and checks before they bridge to the particular blockchains.

They have gone through all the migration and bridging protocols to make sure there are no mistakes as they start moving.

They have carried out their testing for the migration and bridging of the protocols.

It is going to be the first and one-of-a-kind migration that the entire cryptocurrency industry is going to witness on such a large scale.

Migrations are due in 2023

The teams behind the projects have confirmed that they have planned to execute the migration in the upcoming year.

They are aiming to initiate the migration and end it by the end of the first quarter of 2023.

They will not only bridge the project but also the native token $DUST, which is also the utility token on the DeGods ecosystem.

Going forward, they will be bridging the $DUST utility token so the users can continue minting, buying, and selling NFTs without facing any interruptions.


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A similar process is going to take place for the Y00ts project. They will be going with the same strategy so things work out well without any interruptions.

The Solana blockchain is already not doing very well and two major projects moving out would mean catastrophe for the network.

In the past 24-hours, the overall valuation of the Solana blockchain has dipped by 0.44% and its trading volume has witnessed an even worse fall.

If the Solana blockchain does not do anything about the problem, then it will continue losing more networks going forward.


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