The team behind y00ts and DeGods have been awarded $3 million to move their collections from Solana to Polygon, according to a Jan. 6 company statement. The statement was made on Discord and copied to Twitter by Frank III, founder of the two projects.
Here is a screenshot of our latest @y00tsNFT Discord announcement. pic.twitter.com/qWxjBsexv6
—Frank III (@frankdegods) January 6, 2023
The developers had previously announced on December 27 that the projects would be moving to Polygon. This was widely seen as a potential death blow to the Solana network, as the network was already under pressure due to the fallout from the FTX exchange collapse. However, at that time there was no evidence that the y00ts team had received money in exchange to switch networks.
Let’s check the temperature on #solarium now that the top 2 NFT projects are leaving $SUN.
Is Solana dead?
—Ben Armstrong (@Bitboy_Crypto) December 26, 2022
Vitalik Buterin has since argued that claims about Solana’s death may be exaggerated.
In this new statement from Frank III, the founder of y00ts and DeGods claimed that the team was offered even larger sums than it got from the Polygon deal, but decided to partner with Polygon anyway because it would be the best platform for the projects. Frank also attempted to preemptively respond to the criticism that would arise from disclosing compensation received, stating:
“We don’t take this deal for the money. It’s just a nice bonus and we’ll use it effectively. We did it because it’s the most exciting direction for y00ts as a project. Also, if you’re really upset, all I’m asking is that you channel that energy on genuine questions before automatically assuming the worst.
Frank III also stated that he “will not buy any lambos” with the money. In other words, the team will not use the money for its own consumption. Instead, the funds will supposedly go toward hiring new employees for “business development, graphic design, content creation, and event coordination,” which he says will allow the projects to gain wider acceptance. general.
Meanwhile, Solana may have reeled from the exodus of y00ts and DeGods, at least for now, Well, meme coins like Bonk are attracting commercial activity to the platform again.
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