The group behind y00ts and DeGods had been paid $3m to maneuver their collections off Solana and onto Polygon, based on a January 6 announcement from the corporate. The assertion was made on Discord and copied to Twitter by Frank III, founding father of the 2 initiatives.
Here’s a screenshot of our newest @y00tsNFT Discord announcement. pic.twitter.com/qWxjBsexv6
— Frank III (@frankdegods) January 6, 2023
The builders had beforehand introduced on Dec. 27 that the initiatives could be shifting to Polygon. This was extensively seen as a potential demise blow to the Solana community, because the community was already underneath stress resulting from fallout from the collapsed FTX trade. Nonetheless, there was no proof on the time that the y00ts group had acquired cash in trade for making the transfer
Let’s examine the temperature on #solana now that the highest 2 NFT initiatives are leaving $SOL.
Is Solana useless?
— Ben Armstrong (@Bitboy_Crypto) December 26, 2022
Vitalik Buterin has since argued that claims of the demise of Solana could also be exaggerated.
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On this new assertion from Frank III, the y00ts and DeGods founder claimed the group was provided even bigger sums than it received from the Polygon deal, however determined to companion with Polygon anyway as a result of it might be the very best platform for the initiatives. Frank additionally tried to preemptively reply to criticism that might come up from revealing the compensation acquired, stating:
“We didn’t take this deal for the cash. That’s only a good bonus and we’ll use it successfully. We did this as a result of it’s probably the most thrilling route for y00ts as a mission. Additionally, in case you are actually upset — all I ask is to only channel that vitality into real questions earlier than simply mechanically assuming the worst.”
Frank III additionally said that he’ll “not be buying any lambo” with the cash. In different phrases, the group won’t be utilizing the cash for their very own consumption. As a substitute, the funds will allegedly go into hiring new staff for “enterprise improvement, graphic design, content material creation, and occasions coordination,” which he stated will permit the initiatives to realize extra mainstream acceptance.
In the meantime, Solana might have recovered from the exodus of y00ts and DeGods, a minimum of for now, as meme cash like Bonk are attracting buying and selling exercise again onto the platform.