DeGods + y00ts Leaving Solana
DeGods are the #1 NFT collection on Solana.
y00ts are the #2 collection.
Both were created by the same company Dust Labs.
Over the last year of price action falling, Solana’s redeeming quality was its ‘rich and vibrant NFT community’.
Now the core of that community is leaving. DeGods will be moving to Ethereum and y00ts will be moving to Polygon.
In the last 30 days (from Dec 27) there was $60.6M in NFT trade volume on Solana. $21M, or roughly 35% of that was DeGods + y00ts volume (stats from cryptoslam.io).
DeGods are moving to Ethereum, a chain where there has been $508M in NFT trade volume (>8x Solana) in the last 30 days. More money + more buyers likely means more demand.
y00ts are moving to Polygon, a chain that has only done $15M in volume in the last 30 days with $9M coming from Trump Digital Trading Cards.
While NFT volume on Polygon is low, y00ts should fairly easily establish themselves as the ‘Polygon Blue Chip’.
It is also pretty clear that the Polygon team had a lot to do with bringing y00ts to Polygon (very likely paid Dust Labs directly). Polygon’s business development team has incredible reach, bringing in some of the largest partnerships in the entire blockchain space. It is in Polygon’s best interest to help y00ts establish large partnerships in the space (Nike, Adidas, Starbucks, and Disney are already in the Polygon fold).
Accumulate DeGods in preparation for a large demand spike upon moving to Ethereum. Look to flip initial investment out on any large pumps shortly after migration.
Accumulate y00ts dips in preparation for their move to Polygon. While Polygon volume is low, we’ve seen that money is capable of moving in to speculate (Trump NFTs). Look to sell down the road around any hype from [big brand x y00ts] partnership announcements on Polygon.