Solana’s Top NFT Projects Accepted $3M to Move to Polygon

    2 NFT projects y00ts and DeGods were paid $3 million from Polygon to migrate blockchains, according to a January 6 announcement.

    Developers announced earlier on December 27 that the 2 projects would migrate to Polygon. This is seen as a hard strike to the Solana network, as the network has been under pressure from FTX crisis. However, there was no evidence at the time that the y00ts group received money for relocation.

    Frank III, the founder of y00ts and DeGods, claimed that the team was offered even more money than they received from the deal with Polygon, but still decided to partner with Polygon as this will be the most suitable option. Frank has also responded to criticism arising from the disclosure of compensation received, stating:

    “We didn’t take this deal for the money. That’s just a nice bonus and we will use it effectively. We did this because it’s the most exciting direction for y00ts as a project. Also, if you are really upset — all I ask is to just channel that energy into genuine questions before just automatically assuming the worst.”

    Frank III also stated that he would “not be purchasing any lambo” with this amount. In other words, the team will not use the money for personal consumption. Instead, the funds are used to hire new staff for “business development, graphic design, content creation, and events coordination,” which he said would allow the project to gain wider acceptance.

    Meanwhile, Solana may have recovered from the y00ts and DeGods exodus, at least for this time, as the Bonk memecoin is helping the project attract trading activities again.

    SOL price chart (Source: TradingView)

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