NFT Job Approved $3M To Relocate Its Collection To Polygon - Cointelegraph

NFT Job Approved $3M To Relocate Its Collection To Polygon – Cointelegraph

The group had actually formerly revealed the action, yet had actually not exposed the money bargain.

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NFT project accepted $3M to move its collection to Polygon

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The group behind y00 ts and also DeGods were paid $3m to relocate their collections off Solana and also onto Polygon, according to a January 6 statement from the firm. The declaration was made on Discord and also duplicated to Twitter by Frank III, owner of both tasks.

Here is a screenshot of our most current @y00 tsNFT Discord statement.

— Frank III (@frankdegods) January 6, 2023

The programmers had actually formerly revealed on Dec. 27 that the tasks would certainly be relocating to Polygon. This was extensively viewed as a feasible fatality impact to the Solana network, as the network was currently under stress because of results from the fallen down FTX exchange. There was no proof at the time that the y00 ts group had actually gotten cash in exchange for making the action

Let’s check the temperature level on #solana currently that the leading 2 NFT tasks are leaving $SOL.

Is Solana dead?

— Ben Armstrong (@Bitboy_Crypto) December 26, 2022

Vitalik Buterin has actually because said that insurance claims of the fatality of Solana might be overemphasized.

Related: Polygon companions with Warner Music, LGND to produce Web3 songs system

In this brand-new declaration from Frank III, the y00 ts as well as DeGods creator declared the group was provided also bigger amounts than it received from the Polygon bargain, however determined to companion with Polygon anyhow due to the fact that it would certainly be the very best system for the jobs. Frank additionally tried to preemptively react to objection that would certainly occur from disclosing the payment got, mentioning:

” We really did not take this offer for the cash. That’s simply a great bonus offer as well as we will certainly utilize it successfully. We did this since it’s one of the most interesting instructions for y00 ts as a task. If you are actually disturbed– all I ask is to simply carry that power right into real inquiries previously simply immediately thinking the worst.”

Frank III likewise mentioned that he will certainly “not be acquiring any kind of lambo” with the cash. Simply put, the group will certainly not be utilizing the cash for their very own intake. Rather, the funds will presumably enter into working with brand-new workers for “service advancement, visuals layout, material production, as well as occasions sychronisation,” which he stated will certainly permit the jobs to obtain extra conventional approval.

Meanwhile, Solana might have recouped from the exodus of y00 ts as well as DeGods, at the very least in the meantime, as meme coins like Bonk are bring in trading task back onto the system.