The y00ts Non-Fungible Token (NFT) project is making yet another switch in blockchain networks. Just four months after migrating the majority of its NFTs from Solana to Polygon, y00ts announced that it will soon be moving to Ethereum. The announcement was made by DeLabs, the NFT firm behind y00ts, through its official Twitter account on August 9, 2023.
The migration from Solana to Polygon began in December and officially started on March 28. By March 30, Polygon had announced that 11,633 out of a total of 15,000 y00ts NFTs had been successfully bridged. The move to Polygon was aimed at expanding the reach of the y00ts collection.
However, DeLabs has now decided to migrate y00ts to Ethereum to unite its y00ts community with its DeGods NFT collection. The migration of DeGods from Solana to Ethereum also began in April, following a similar pattern as y00ts. Both projects are now set to be on the same blockchain network, allowing for better synergy and collaboration between the communities.
The decision to migrate back to Ethereum was met with mixed reactions from the NFT community. Some industry pundits expressed their support for y00ts founder FrankDeGods and the move to unite the communities. However, others voiced concern about the state of Polygon’s NFT ecosystem and the potential impact of losing y00ts.
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As part of the migration, y00ts will be returning a $3 million grant provided by Polygon Labs in January. The grant was intended to support the project’s migration from Solana to Polygon. However, y00ts has decided to return the grant in order to redeploy the funds for the growth of the NFT ecosystem and support builders and creators.
Currently, y00ts and DeGods have floor prices of 1.35 ETH ($2,465) and 8.66 ETH ($16,065) respectively, according to NFT Price Floor. This indicates that both projects have established a strong presence in the NFT market.
The decision to switch blockchain networks is not an easy one, but y00ts believes that it is necessary to bring the communities together. FrankDeGods, the founder of y00ts, emphasized the importance of unity and requested that everyone involved remain respectful throughout the process.
Despite the migration, y00ts expressed its continued love for Polygon and acknowledged that the network had played a significant role in the project’s growth. The move to Ethereum is seen as a strategic decision to further enhance collaboration and expand the opportunities for both y00ts and DeGods.
In conclusion, the y00ts NFT project is migrating from Polygon to Ethereum to unite its community with the DeGods NFT collection. The decision was met with mixed reactions from the NFT community, but y00ts remains committed to the growth and development of the NFT ecosystem. By returning the grant from Polygon Labs, y00ts aims to allocate resources to support builders and creators in the NFT space. The migration highlights the dynamic nature of the blockchain industry and the importance of strategic decisions to foster collaboration and community building.
