DeLabs closed a $3 million deal to move its NFTs from Solana to Polygon

For Angel DiMatteo @shadowargel

The person in charge of the project clarified that they received much more lucrative proposals, but they accepted the one from Polygon for the benefits that network provides to your project.

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  • DeLabs will move to Polygon his collections of NFT y00ts Y DeGods
  • A payment for USD $3 million was made to leave the network of Solarium
  • The capital will be used to optimize your work team

In a recently published announcement, the development team behind the collections of NFT y00ts Y DeGods, DeLabs, revealed that they received an offer of USD $3 million to migrate their non-fungible tokens from the network of Solarium to the of Polygon.

The development team provided the information through its communication channel. discord official this week, and the founder of the two projects NFTs, Frank III, copied the announcement and made it public through his official Twitter account. Twitter.

Far from qualifying this as a deal that only benefited the main figures or to the detriment of the network of Solarium, Frank explained that they accepted the proposal since the capital would be used to expand their work team and optimize the projects under development. He also added that they had received much more lucrative proposals from other networks, but indicated that they accepted what was offered by Polygon since they were much more enthusiastic about what the network had to offer them technologically speaking.

In this regard, the statement reads:

“We do not accept this deal for the money. It’s just a nice bonus and we’ll use it effectively. We did this because it’s the most exciting direction for y00ts as a project. Also, if you are really upset, all I ask is simply to channel that energy into genuine questions before automatically assuming the worst.”

Let’s keep in mind that the team DeLabs announced at the end of December that its flagship projects would start to operate on the Polygon, but at that time they did not indicate anything about the monetary agreement.

The plight of Solarium

Although the migration of DeLabs and their projects NFTs was on the table, the fact occurs at a particularly delicate moment for the Solana ecosystem, which has been hit hard both by the bear market and by what happened with FTX.

Regarding the latter, the controversy surrounding FTX also made its weight felt on Solarium because the directors of the exchange publicly supported the project, and also contributed with its financing in very important phases for its development. Specifically it was Alameda Research which bet heavily on the future of the network, since they owned 10% of the total supply of SUN before falling into crisis.

Despite being a project with a rather interesting technological proposal, the current situation has led many initiatives to explore other options in Blockchain to develop their ideas. Consequently, the Solana network has remained in the background for the moment and its token is around USD $14 at the time of publication, contrasting with the almost USD $260 that it reached in mid-2021.


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Article by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

CAVEAT: This is an informative article. DiarioBitcoin is a communication medium, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. They may not be appropriate for retail investors, as the entire amount invested could be lost. Check the laws of your country before investing.