Migration of DeGods NFTs from Solana to Ethereum: Everything you Need to Know

It is reported that since 9:30 p.m. EST on Friday, more than 5000 DeGods NFTs have completed the migration from the Solana blockchain to Ethereum. According to

Migration of DeGods NFTs from Solana to Ethereum: Everything you Need to Know

It is reported that since 9:30 p.m. EST on Friday, more than 5000 DeGods NFTs have completed the migration from the Solana blockchain to Ethereum. According to the relevant announcement, Dust Labs will bear and pay all migration related gas fees within 24 hours after starting the migration. According to Cryptographic KOL @ Frankdegods, the first DeGods NFT to be migrated to Ethereum has been sold at a price of 11.1 ETH. According to OpenSea data, the current DeGods floor price is 9.555 ETH.

Data: Over 5000 DeGods have been migrated from Solana to Ethereum

If you’re an NFT enthusiast, you might be aware of the recent migration of DeGods NFTs from the Solana blockchain to Ethereum. Since 9:30 p.m. EST on Friday, more than 5,000 DeGods NFTs have been migrated to Ethereum. In this article, we’ll discuss everything you need to know about this migration, including the reasons behind it, the impact on the market, and the future of DeGods NFTs on Ethereum.

Why the Migration?

The migration of DeGods NFTs was initiated by Dust Labs, the team behind the development of DeGods NFTs. The main reason behind this migration was to provide better liquidity to NFT holders and attract more buyers from the Ethereum ecosystem. According to Dust Labs, the migration will also enable DeGods to interact with other Ethereum-based dApps and protocols, opening up new possibilities for DeGods holders.

How Does the Migration Work?

The migration process is simple and straightforward for DeGods NFT holders. All they need to do is connect their Solana wallet to the DeGods portal and initiate the migration process. Dust Labs has promised to bear and pay all the migration-related gas fees within 24 hours after the migration process starts.

Impact on the Market

The migration of DeGods NFTs from Solana to Ethereum has had a significant impact on the NFT market. According to Cryptographic KOL @Frankdegods, the first DeGods NFT to be migrated to Ethereum was sold at a price of 11.1 ETH, which is higher than the current floor price of 9.555 ETH on OpenSea. This suggests that the migration has increased the demand for DeGods NFTs among Ethereum users.

The Future of DeGods NFTs on Ethereum

The migration of DeGods NFTs to Ethereum is expected to have long-lasting effects on the market. It has brought DeGods NFTs to a broader audience of buyers and opened up new possibilities for DeGods holders. The migration is also expected to increase the liquidity of DeGods NFTs, making them more accessible and desirable to potential buyers. Additionally, the migration will allow DeGods to interact with other Ethereum-based dApps and protocols, which may provide new use cases for DeGods NFTs in the future.

Conclusion

The migration of DeGods NFTs from Solana to Ethereum is a significant development that has caught the attention of the NFT community. It provides better liquidity to NFT holders and attracts more buyers from the Ethereum ecosystem. It also opens up new possibilities for DeGods holders and may increase the demand and liquidity of DeGods NFTs in the future.

FAQs

1. What is the main reason behind the migration of DeGods NFTs to Ethereum?
– The migration was initiated by Dust Labs to provide better liquidity to NFT holders and attract more buyers from the Ethereum ecosystem.
2. How does the migration process work for DeGods NFT holders?
– DeGods NFT holders need to connect their Solana wallet to the DeGods portal and initiate the migration process. Dust Labs has promised to bear and pay all the migration-related gas fees within 24 hours after the migration process starts.
3. What is the future of DeGods NFTs on Ethereum?
– The migration of DeGods NFTs to Ethereum is expected to have long-lasting effects on the market. It has brought DeGods NFTs to a broader audience of buyers and opened up new possibilities for DeGods holders. It is also expected to increase the liquidity of DeGods NFTs and allow them to interact with other Ethereum-based dApps and protocols.

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