High Solana startup DeLabs admits to receiving a $3 million grant to maneuver its y00ts NFT initiatives from Solana over to Ethereum sidechain Polygon. Challenge founder Rohun Vora, aka Frank DeGods first introduced the funding by way of the official DeGods/y00ts discord channel. Learn on to study extra in regards to the funding and what it means for one of the vital thrilling initiatives on the blockchain.
What Does The Polygon $3 Million Funding Imply For DeGods & y00ts?
Earlier this week, Frank DeGods introduced that DeLabs acquired a $3 million non-equity grant from Polygon to develop the crew and scale an upcoming incubator undertaking. He provides that there have been different chains providing more cash to the crew as properly. However clarifies his determination to decide on Polygon, describing it to be the most effective course for the y00ts undertaking general.
Vora additionally states that the corporate will develop its enterprise with rising groups. The groups embody enterprise growth, graphic design, content material creation, and occasion coordination personnel. The revelation of the funding comes every week after the DeGods team announced its plans to shift blockchains. Based on DeLabs, the DeGods undertaking will bridge to Ethereum, whereas the y00ts undertaking shifts to Polygon.
Within the ongoing crypto winter, the Solana cryptocurrency is down 91% from final 12 months’s valuation. For context, SOL continues to drop since its November 2021 excessive of $258. As of the time of writing, SOL hovers round a worth of ~$13.
About y00ts
y00ts is a prime NFT undertaking constructed by DeLabs, the founders of (former) main Solana undertaking DeGods. y00ts is a 15,000 unit profile image (PFP) NFT undertaking. And DeGods is a ten,000 digital artwork assortment. Frank additionally added that with the funds and the expanded crew, he goals to attain much more high quality initiatives. The targets are to dominate the eye financial system, present cool partnerships and offers with companies, and general create magical experiences. He has additional introduced that the corporate will likely be posting up a job board shortly.
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