DeGods migrating to Polygon with Blur as the official marketplace
DeGods, and y00ts, the largest NFT collections in Solana, are migrating to Polygon. Despite the good news, MATIC has yet to react positively.
DeGods migration to Polygon
Polygon, an Ethereum scaling solution, has recently enjoyed increasing adoption. The latest is from DeGods and y00ts.
According to reports, DeGods is officially migrating its NFTs from the Solana network to Polygon. The reports are based on tweets released by DeGods recently. One of the tweets indicates that the migration will begin on March 31.
In the tweets about this migration, DeGods also highlighted that Blur would be their partner marketplace as they move to the Ethereum scaling solution. Blur is DeGods official marketplace of choice.
Blur marketplace seemingly reacted well to the news on Twitter. Furthermore, Blur invited the community to join a Twitter space held between Blur founder @PacmanBlur & @frankdegods on Saturday.
The DeGods move has also captured the attention of many in the NFT community. When writing this report, DeGods was among the top trending topics within the crypto Twitter community.
DeGods is not the only NFT collection to change homes from Solana to Polygon.
Another NFT collection, y00ts, has been migrating recently, according to reports. Reports suggest that nearly 80% of y00ts have moved, taking $37 million of NFTs from Solana to Polygon.
Magic Eden, an NFT marketplace, has recently been slowly expanding its reach and will add Ethereum in April. The Binance network NFT section recently added support for Polygon and related digital assets.
Furthermore, the recent institutional deals with Disney and Starbucks are allegedly attracting projects.
There are rumors that Polygon paid DeLabs, the creator of both DeGods and y00ts, some large chunks of money earlier this year to encourage the migration.
The possible impact of Matic
Since the start of 2023, MATIC has been performing well in the markets. Starting the year trading at $0.7, MATIC doubled in value to about $1.58 in mid-Feb.
Matic price action | Source: Coinmarketcap
At the moment, this coin is trading at just about $1.12. This is still about a 60% increase in price from the start of the year.
The recent reports about MATIC’s migration have not vastly impacted the price of MATIC. The token has been recording some losses in the past 24 hours.
