Recently Solana (SOL) has taken a big hit. He was delisted from some exchanges due to his relationship with the bankrupt FTX. Some companies cut their ties with the project. Here are the details…
DeGods leaves Solana network
DeGods NFT art collection announced that it has cut ties with Solana in a shocking announcement on Twitter. Going forward, DeGods is announcing that it will exit the platform and move into the Ethereum NFT market in the new year. On his official Twitter account, DeGods explains that the Ethereum bridge is not the ultimate destination. After the bridge is fully tested, full details about the transition process will be made available to the public.
The details of the bridge will be released when it's ready & 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 III (@DeGodsNFT) December 25, 2022
DeGods; is an art collection and global community of developers, entrepreneurs, artists. Similarly, the Y00ts NFTs followed in DeGod’s footsteps. In a tweet posted around the same time as DeGods, Y00ts reveals that he left Solana and bridged to Polygon. In a follow-up tweet, Y00ts stated that their top priority for now is to test, verify before finalizing. Meanwhile, the 2023 roadmap will be available in January of next year.
The details of the bridge will be released when it's ready & 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 a more formal roadmap for y00ts: Season 2 in January.
— y00ts (@y00tsNFT) December 25, 2022
What does the NFT community think?
In the NFT Twitter community, recent developments reflect mixed feelings. Some community members expressed excitement about the future and what might happen before the immigration decision. But others worry that Solana’s credibility may suffer in the long run. One user argues that Polygon does not have a promising NFT ecosystem. Others are keen on Polygon’s advantage over Solana’s NFT ecosystem.
On the other hand, concerns have been expressed by NFT collectors and curators, who have highlighted the ongoing bearish trend in the market. According to these collectors, the announcement by both platforms during this time may cause market participants to trigger FOMO. However, prospects for NFTs are largely bullish for 2023. Therefore, it is not yet clear whether bullish expectations will be met or exceeded.
Both projects were “at the top”
DeGods and Y00ts are the two most traded Solana NFT collections on the OpenSea market. At the time of writing, the base price of DeGods NFTs is around 790 SOL. So, it’s equivalent to $8,900. On the other hand, the base price of the Y00ts NFT is 215 SOL. So, around $2,400. Both NFT projects were founded by Rohun Vora, known in the crypto community as Frank DeGods.
Solana is currently trading around $11.16. cryptocoin.com As we also reported, the coin melted amid the repercussions of the FTX meltdown. Solana dropped from around $36 in early November to $10.