Frank Degods Announces Plans To Migrate Degods And Yoots NFT To Another Blockchain
Due to Solana’s recent underperformance, Degods and Yoots NFT founder, Frank Degods, has announced plans to migrate from the Solana Blockchain to another block chain. Yoots NFT migrates to the Polygon network, while Degods NFT migrates to Ethereum Network.
Two Powerful NFT Projects Exit The Solana Ecosystem
Degods NFT and Yoots NFT, the two most significant developments in the Solana NFT space, have finally decided to say goodbye to the Solana Network that gave them their footing.
It has been concluded that the Degofs NFT will migrate to the Ethereum network, while Yoots will migrate to the Polygon network.
Since the disastrous collapse of FTX, Solana has not been the same; this block chain was closely linked to the FTX exchange and suffered massive losses as a result of the crash that occured this November.
Solana has been struggling to survive in the midst of the market’s whirlwind for weeks now.
The coin had fallen from an all-time high of $200+ in November to crumbs of $11 today.
The underperformance of this particular coin had shook the market, resulting in losses for investors and firms.
Solana was heavily exposed to the Alameda FTX research and could not avoid being hit by the market tornado that erupted when FTX crashed.
Solana Still Struggling For Survival
With the coin’s underperformance, two of their strongest projects have decided to call it quits and move to another blockchain before being dragged down by the tides of the Solana situation.
Frank Degods, the founder of Degods and Yoots, has announced his intention to migrate to another block chain beginning next year, as there appears to be little to no hope for the Solana blockchain.
Since its inception, Solana has been mentioned in discussions of top performing cryptocurrencies, securing a spot on the top ten high performance cryptocurrencies in terms of market cap and trading volume.
However, this was short-lived as FTX occurred, shattering the entire market and leaving many broken pieces to be assembled together.
Solana’s popularity in the community has been dwindling as news of projects migrating to another blockchain has circulated.
Magic Eden, a Solana-based NFT Marketplace, recently announced its new integration with the Polygon network.
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