Polygon Paid Y00ts Developers $3M to Migrate From Solana

In a discord post, the undertaking chief Frank revealed y00ts acquired $3 million in a non-equity grant from Polygon for the migration.

When the announcement was made in December, Frank stated the migration was as a result of the initiatives had capped out on Solana. He added that:

“It’s laborious to just accept, nevertheless it’s been robust to develop on the fee we need to develop. If Ethereum is the place we’ve got to go to continue to grow, it’s what we’ve got to do.”

DeLabs Will Use Polygon’s Grant to Scale Incubator

In response to the assertion, the funding will probably be spent on increasing the DeLabs group. It might even be used “to kickstart and initially assist scale the incubator” the undertaking was constructing for its NFT collections. In response to Frank, the incubator will permit customers to “spend y00tpoints and DePoints to mint [its] incubator’s NFT collections.”

Apart from that, the growth will permit DeLabs to create greater high quality initiatives and “present really cool partnerships/offers/reductions/perks with actual companies.” 

Nonetheless, he famous that the migration to Polygon was not solely influenced by cash. Frank stated the undertaking rejected “greater provides” from different blockchains. He added that the choice was made as a result of it was the “most enjoyable path” for the undertaking.

The Crew Beforehand Denied it Was Paid to Migrate

In the meantime, this revelation contradicts the sooner claims by DeLabs’s founders that there was no monetary motivation behind its migration.

The DeGods group rejected rumors that it requested for $5 million from the Solana basis to stay on the community.

Nonetheless, the disclosure represents Polygon’s effort to draw high initiatives from different networks. DeGods and y00ts are the 2 high NFT initiatives on Solana.

Polygon, on its half, has secured partnerships and onboarded a number of manufacturers, like Starbucks, Instagram, Reddit, DraftKings, and Nike, to web3.

DeGods and y00ts Ground Value

Solana flooring information reveals that DeGods and y00ts flooring costs have risen by 16% and 10% within the final 24 hours to 575 SOL and 163.69 SOL, respectively.

In the meantime, an NFT analyst WarDaddyCapital pointed out that the initiatives have “cruised previous their sol ATHs” because the migration announcement. In response to different analysts, the collections have seen renewed curiosity from buyers within the area.