Home NFTs $37M of Y00ts NFTs Move from Solana to Polygon in 24 Hours

$37M of Y00ts NFTs Move from Solana to Polygon in 24 Hours

$37M of Y00ts NFTs Move from Solana to Polygon in 24 Hours

Y00ts NFTs are currently one of the most notable Web3 projects to transition to another blockchain. Most holders are backing the project’s change of heart, with 77% of y00ts non-fungible tokens (NFTs) migrating from Solana to Polygon since bridging on Monday. A new initiative for DeGods is just a little behind.

Quick Takes: 

  • y00ts and DeGods NFTs are migrating from Solana to new blockchain networks.
  • The first transition includes Y00ts moving from Solana to Polygon on Monday, with more than 75% of the NFTs migrating in just one day.
  • DeLabs’ next switch includes DeGods to Ethereum using a unique minting process on March 31.
y00ts NFTs

About Y00ts Migration from Solana

In December, the Web3 startup responsible for y00ts and the highly desirable NFT project, DeGods, revealed plans to bridge the two collections away from Solana in the coming months.

On Monday, the project’s team DeLabs, alongside the tech startup Dust Labs, finally moved y00ts NFTs using the “burn and mint” process, whereby holders must burn their original NFTs to receive their new, Solana-free, Polygon digital asset(s).

The NFT project took to Twitter to share the news about this victorious switch:

Frank, the creator of both NFT projects, has always enjoyed the Polygon blockchain. His decision to switch y00ts from Solana to Polygon soon became secure as more big brands joined the blockchain – RedditNike, and Starbucks.

In one day, most y00ts NFTs were transferred from Solana to Polygon. Thus, more than 75% of the total collectibles supply (11,362 out of 15,000) moved.

With a floor price of 1.79 ETH ($3,230) on the secondary marketplace, OpenSea, the total value of the NFTs that migrated to the other chain accounts to a whopping $37 million. 

Next Up, Bridging Plans for DeGods

The next step for DeLabs includes creating another distinct minting process. But, this time, for DeGods, on March 31.

This plan requires a different method that y00ts from Solana to Polygon. So instead, DeGods will be bridging to Ethereum. One of the main reasons includes having technical differences and unique characteristics.

Regardless, DeLabs’ team is actively working on the migration and preparing the collection to appeal to more NFT investors and support the best exchange rates and transactions.

By implementing such efforts, the project is preparing to expand its NFT offerings, providing more investment opportunities to stay on top of the evolving market.

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