The highly anticipated transition of the y00ts NFT collection from Polygon to Ethereum has finally begun. This move, which was announced in August, has generated significant excitement within the NFT community. In the first seven hours since the bridge was made available, a staggering 4,600 y00ts holders have migrated their assets from Polygon to Ethereum using the http://bridge.y00ts.com platform.
To incentivize early adopters to make the switch, y00ts has generously decided to cover all gas fees for first movers within the first 24 hours of the migration. Additionally, 10 y00ts NFTs will be randomly distributed to wallets that switch chains within the first day. These NFTs have a floor price of approximately $1225 (0.775 ETH), as per OpenSea. This provides a lucrative opportunity for collectors who move quickly to take advantage of this offer.
Furthermore, y00ts has partnered with Wormhole Crypto’s cross-chain NFT standard to facilitate a smooth and secure transition for holders. Users can easily access all verified y00ts links through Phantom shortcuts, including the popular bridge link. However, it’s important to note that Ethereum validation can take up to an hour before minting, and there is a limit of 30 y00ts migrations per user. The waiting room advises users to be patient and assures them that their y00ts are in transit. The development team is also actively working on system enhancements to improve the speed of the migration process.
It is crucial to understand that y00tpoints, the native token of the y00ts ecosystem, will exclusively operate on the Ethereum network. Staking y00ts on ETH is not required; simply holding them in a wallet is sufficient. This decision aligns with y00ts’ goal of becoming the leading cross-chain NFT community and expanding its presence to other blockchain networks, such as Bitcoin, in the future. Dust Labs, the creators of y00ts, envision a diverse and thriving NFT ecosystem that can thrive on multiple blockchains.
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It’s important to note that all investment and financial opinions expressed by NFT Plazas are based on personal research and experience and are intended for educational purposes only. Individuals are advised to conduct thorough research before making any investment decisions.
Overall, the transition of y00ts from Polygon to Ethereum marks a significant milestone for the project. With the support of early adopters and the implementation of key technological upgrades, y00ts aims to create a thriving NFT ecosystem that can span across different blockchain networks, opening up new opportunities for collectors and creators alike.
