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Migration of DeGods NFTs from Solana to Ethereum

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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 announc

Migration of DeGods NFTs from Solana to Ethereum

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

The decentralized finance (DeFi) space continues to experience unprecedented growth as more and more investors are venturing into the sector. Non-fungible tokens (NFTs) have become an important part of the DeFi ecosystem, taking the digital art industry by storm. One such NFT is DeGods, which has recently completed migration from the Solana blockchain to Ethereum. Let’s dive deeper into this.

What is DeGods NFT?

DeGods is a popular NFT with a metaverse theme that offers unique features such as autonomous yield-generating capabilities, buyback burn mechanisms, and reflective distributions. Each DeGods NFT is a collectible representation of a god in the metaverse, with different rarity levels and unique traits. There are only 8888 DeGods NFTs in total.

What is the migration about?

The migration process of DeGods NFTs from Solana to Ethereum was initiated to improve the liquidity of the NFTs on both blockchains. This allows for more efficient trading and access to the NFTs for buyers and sellers. The migration is also aimed at providing better integration with other Ethereum-based DeFi protocols.

Migration process

The migration process of DeGods NFTs from Solana to Ethereum started on Friday, 9:30 p.m. EST. The entire process covered over 5000 DeGods NFTs, with Dust Labs bearing all related gas fees within 24 hours of starting the migration. The migration process is expected to provide a significant boost to the liquidity and trading activity of DeGods NFTs within the DeFi space.

Price action

According to Cryptographic KOL @Frankdegods, the first DeGods NFT to be migrated to Ethereum was sold at a price of 11.1 ETH. Subsequently, the current DeGods floor price is 9.555 ETH according to OpenSea data. This indicates a significant increase compared to the price levels before the migration of the DeGods NFTs. This price surge can be attributed to the increased integration and liquidity of the NFTs within the DeFi space.

Conclusion

The migration of DeGods NFTs from Solana to Ethereum is a significant development in the DeFi space. It provides a more efficient and integrated approach to the liquidity and trading of DeGods NFTs. The fact that Dust Labs paid all the related gas fees within 24 hours of the migration shows the commitment of the project towards the success of its NFTs. Investors can expect to see increased activity and more price movements within the DeGods NFT market moving forward.

FAQs

Q1. What is the current total supply of DeGods NFTs?
A1. There are only 8888 DeGods NFTs in total.
Q2. Why was the migration of DeGods NFTs initiated?
A2. The migration process was initiated to improve the liquidity of the NFTs on both blockchains and provide better integration with other Ethereum-based DeFi protocols.
Q3. Who bears the migration-related gas fees of the DeGods NFTs?
A3. Dust Labs bears and pays all migration-related gas fees within 24 hours of starting the migration.

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