Top 2 NFT Projects on Solana are jumping to Ethereum, Polygon: Why?

Paigambar Mohan Raj
Source: Analytics Insight

Things seem to be getting worse for the Solana (SOL) network. The token has taken a massive hit since the entire FTX episode. Now according to reports, two of the best-performing NFT projects on the SOL network are bridging out to other networks in 2023.

DeGods and y00ts announced that the projects will be bridging to Ethereum (ETH) and Polygon (MATIC), respectively.

Rohun Vora, Creator of DeGods and y00ts, also known as Frank III, stated that the decision is taken to “explore new opportunities.” Additionally, according to Vora, this will allow the collections to grow. The DUST token, which is used to purchase, trade, and mint NFTs on the DeGods network, will also be bridged onto Ethereum and Polygon. The two NFT projects will still be on Solana for the time being, according to Vora. The founder also confirmed that the bridge migration will be owner “opt-in.”

Will Solana (SOL) recover in 2023?

DeGods and y00ts changing its base network may create new problems for the Solana (SOL) network. A recent study showed how the number of prominent blockchain active developers has decreased over the year. It should be noted that Solana was mostly responsible for it. The number of active developers has decreased from 3,700 in January to 1,600. In the Solana ecosystem, there are now 75 instead of 2,453 developers.

Nonetheless, the network has plans for 2023 that could help it climb out of its slump. Solana is launching its mobile phone in 2023. This is undoubtedly a risky step for the project since it represents a first-of-its-kind development in the cryptocurrency industry. However, the mobile phone launch, if successfully executed, could be an answer to SOL’s woes.

Additionally, the platform will introduce JumpCrypto’s Fire Dancer, which will also be available in 2023. The launch seeks to increase speed while also minimizing platform malfunctions.