y00ts & DeGods Move Off Solana

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Here is the breakdown of today's newsletter:

⛓️ DeGods and y00ts are moving chains

• The project born on Solana Y00ts will be merging to Polygon within the next couple of months, while sister project DeGods will merge to ETH. (@y00tsNFT)

• Chess is finally being effectually integrated into Web 3, as International Chess Federation teams up with Avalanche to bring the game into a new age. (@avalancheavax)

• Here is how SBF covered his $250 million bail.

• NFTs are becoming more popular in Italy, pushing a sort of revival in the general appreciation of finer arts. (CT)

• Someone just purchased E.T. Literally, the animatronic alien was just sold at auction with accompanying NFT. Who would have thought? (@JuliensAuctions)

• Game developers Square Enix have played with the concept of Web 3 adoption for almost a year now, despite public push back they seem to see the light at the end of the tunnel as they pick up Gumi, a web 3 mobile gaming firm. (CT)

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DeGods And y00ts Switch Chains

When minting a project, teams usually build on the blockchain where they will likely remain for the future. With cross-chain bridging becoming easier over time, and while not a normal occurrence, projects have the ability to switch blockchains, which is exactly what the DeGods and Y00ts of Solana are doing. 

On Sunday this past weekend, both teams announced that they will be moving to Polygon by Q1 2023. Furthermore, when the move to Polygon is complete, both projects will be traded on Ethereum, contrary to the current Solana notation. According to the DeGods ecosystem founder, Frank, Solana cannot support the future of DeGods and Y00ts because they’re already feeling capped out on possibilities in the Solana ecosystem. “If Ethereum is where we have to go to keep growing, it’s what we have to do.”

• DeGods is migrating from Solana to the Ethereum-based Polygon network… imagine that Solana’s top NFT project finds it in its best interest to migrate across chains. Well, it’s happening, and it turns out…

• Y00ts is hitching a ride with them… it turns out that multiple projects have reason to pursue a more promising chain to host their NFTs on. That’s two of Solana’s top chains migrating to ETH.

• Chains are paying for the moves… while successful projects contemplate migrating, well-resourced chains like Polygon are actually providing the funds to make it happen via partnership grants

💡 The DropUnprecedented… we’re actually not used to NFT bridges at this scale. We won’t sugarcoat it: the move to Polygon is not going to be easy. Most projects go the other way; they mint something on Ethereum first and then experiment with other chains to mint new projects. So, for Frank and his teams to decide to make this move, we, as a market, must see this as a move for growth.

Sponsored Content: This newsletter was sponsored by Unsellable. 

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