Huge NFT collections are leaving Solana and moving to Ethereum and Polygon
- Degods and Yoots NFTs to bridge from Solana to Ethereum and Polygon collectively.
- Members of the NFT community say the move is as risky as it is promising for the NFT market.
In a shocking announcement on Twitter, Degod’s NFT art collection has revealed it is cutting ties with Solana. Going forward, Degods explains that the new year will see it leave the platform and move into the Ethereum NFT market.
Taking to his official Twitter account, Degods explains that the bridge to Ethereum is not a final destination.
DeGods will officially bridge to Ethereum in the first quarter of 2023.
The bridge is not the goal.
It’s on the way to get there. pic.twitter.com/Wy8CbGx5VZ
— DeGods III (@DeGodsNFT) 25 December 2022
Once the bridge is fully tested, a thorough overview of the transition process will be made available to the public, it added.
As set in the follow-up tweet;
“The details of the bridge will be released once it is ready and tested. This has never been done before on this scale.
We will make sure it is airtight.
In the meantime, we’ll be releasing a roadmap for Season III in January (for real this time).”
DeGods is a digital art collection and global community of creators, developers, entrepreneurs, athletes, artists, experimenters and innovators.
Similarly, Yoot’s NFTs have also followed in Degods step. In a tweet posted around the same time as Degods, Yoots reveals it is bridging Polygon.
y00ts will officially bridge to @0xPolygon in the 1st quarter of 2023. pic.twitter.com/Mnz25dJko1
— y00ts (@y00tsNFT) 25 December 2022
In a follow-up tweet, similar to Degod’s, Yoots makes it clear that their top priority for now is testing, verifying and scaling because completion. Meanwhile, their 2023 roadmap will be made available in January next year.
Members of the NFT community express displeasure after the announcement
The reception of the new development, from the NFT Twitter community, has reflected mixed feelings.
While some community members are excited about the future, and what may precede the decision to migrate, others are concerned that Solana’s credibility may suffer in the long run.
While one user claims that Polygon does not have a promising NFT ecosystem, others have opened their eyes to the advantage that Polygon will have over Solana’s NFT ecosystem.
A Twitter user is quoted as saying;
“I’m very intrigued – this could honestly be bullish for a lot of reasons (partnerships, big brand collaborations, gaming, first mover advantage, etc.) but it’s going to be an uphill battle to get peeps to shop poly .If anyone can do it, it’s dust labs.
On the other hand, concerns are being raised by NFT collectors and creators, highlighting the ongoing bear trend in the market. According to these collectors, the announcement from both platforms during this time could trigger FOMO from market participants.
However, expectations for NFTs are largely positive for 2023. As such, it remains to be seen whether the bullish expectations will be met or exceeded.
