DeGods begins migration to Ethereum



01 April 2023 09:17, UTC


Studying time: ~2 m

DeGods, the biggest Solana-based non-fungible token (NFT) assortment by all-time gross sales quantity, began its migration to the Ethereum blockchain on Saturday morning in Hong Kong.

See associated article: Solana NFT gross sales surge as merchants farm for Tensor rewards

Quick info

  • Regardless of the migration, exercise on the Solana community has been rising, with the Forkast Solana Composite, a measure of the Solana NFT market, rising by 2.9% over the previous 24 hours.
  • On Wednesday, DeGods’ sister challenge Y00ts started its transfer to Polygon. Round 80% of Y00ts had already accomplished the transfer, in accordance with information from Dune Analytics.
  • DeGods house owners accomplished over US$2.19 million in gross sales on Friday alone, marking the best quantity for the reason that NFTs have been initially minted in October 2021, in accordance with CryptoSlam, the info arm of Forkast Labs.
  • The rising exercise could point out merchants anticipating DeGods’ value to rise on Ethereum, simply because it has with Y00ts, whose ground value is up by greater than 50% for the reason that NFTs started to land on Polygon, CoinGecko information exhibits.
  • The deflationary assortment, which started with a ten,000 NFT mint, had a ground value of 939 SOL (US$19,940), experiencing a 29.6% surge within the 24 hours main as much as 1 p.m in Hong Kong, in accordance with CoinGecko information. DeGods on Ethereum had a ground value of 10.4 ETH (US$19,000).
  • DeLabs, the Los Angeles-based NFT agency behind DeGods and Y00ts, introduced the tasks’ strikes to their designated blockchains in December 2021, which was the identical month that Solana’s native coin, SOL, dipped under US$10 for the primary time since early 2021. The startup acquired a US$3 million grant from Polygon emigrate blockchains.
  • The migration of DeGods from Solana is predicted to empty round US$200 million, the estimated market capitalization of the NFT assortment, from the blockchain.

See associated article: Prime Solana NFT tasks discover new properties on Ethereum, Polygon

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