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TL;DR
Since Monday, over 70% of the y00ts NFT assortment has moved from Solana to Polygon.
y00ts co-founder mentioned it’s simpler to forge partnerships when your undertaking is on the identical blockchain as the businesses you are partnering with and Starbucks, Nike, Disney and Reddit had all constructed on Polygon.
The DeGods CEO mentioned: “If we’re gonna be the largest, hottest NFT assortment on the earth, you are gonna need to be on Ethereum.”
It looks like blockchains are form of ‘branding’ themselves – turning into recognized for one thing.
Full Story
Since Monday, over 70% of the y00ts NFT assortment has moved from Solana to Polygon.
Tomorrow (Friday) the DeGods NFT undertaking is shifting from Solana to Ethereum.
Why would any NFT undertaking transfer from one blockchain to a different?
y00ts co-founder, Frank, mentioned in an interview with Decrypt that the variety of corporations that had chosen to construct NFT initiatives on Polygon was the driving issue.
Firms like Reddit, Disney, Nike, and Starbucks.
It is simpler to forge partnerships when your undertaking is on the identical blockchain as the businesses you are partnering with.
Sensible, strategic play.
(And the $3M grant from Polygon Labs in all probability did not damage both).
For DeGods, their CEO mentioned: “If we’re gonna be the largest, hottest NFT assortment on the earth, you are gonna need to be on Ethereum.”
Daring phrases provided that, whereas Ethereum is the unique sensible contract platform, it has additionally been criticized for having a lot increased transaction charges than networks like Polygon and Solana.
This is our take:
Taking a step again, it looks like there’s one thing bigger occurring.
It looks like blockchains are form of ‘branding’ themselves – turning into recognized for one thing.
Polygon: the platform for company NFT initiatives.
Ethereum: the platform for luxurious NFT initiatives.
So the place does that go away Solana?
Whereas they’ve created some priceless expertise, that is just one a part of the equation.
Let’s have a look at how issues shake out from a enterprise perspective.
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