The popular NFT collections on Solana, y00ts and DeGods, have revealed that they will be moving to the Polygon ecosystem on March 27th. Both NFT projects built by Dust Labs will be migrating to other blockchains such as Ethereum and Polygon in the near future.
In order to facilitate the migration, both projects will be using the services of Wormhole to burn the NFTs on Solana and mint new ones on the destination blockchain while preserving the metadata of the original collection.
To encourage the migration from Solana to Polygon, y00ts is offering attractive incentives such as free transactions and a 30-day staking period on Polygon. Additionally, the project will airdrop 1 BTC DeGods, worth about 1 Bitcoin, to one lucky y00t on Polygon in the first 24 hours.
At the same time, y00ts will be revoking the benefits of the collection on Solana and increasing the royalty fee from 3.33% to 33.3% on the old network. y00ts is a collection of 15,000 NFTs owned by DustLabs, and both DeGods and y00ts are considered blue-chip collections on Solana.
After Solana suffered heavily from the FTX crash, many DeFi projects as well as NFTs have begun to migrate to other blockchains. The volume of NFT transactions on Solana has also decreased significantly compared to 2021.
The migration of y00ts and DeGods to Polygon is seen as a positive move for both projects, as Polygon has been gaining popularity among DeFi and NFT enthusiasts due to its fast transaction speed and low fees. The incentives offered by y00ts for migrating to Polygon are also expected to attract more users to the platform.
In conclusion, the migration of y00ts and DeGods to Polygon marks a significant shift in the NFT landscape on Solana. It will be interesting to see how this move affects the overall NFT market and whether other NFT projects will follow suit in the future.
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This article was republished from azcoinnews.com