The NFT project y00ts has once again decided to switch blockchain networks, this time moving from Polygon to Ethereum, just four months after migrating most of its NFTs from Solana to Polygon.
1. y00ts will be migrating to Ethereum.
— y00ts (@y00tsNFT) August 9, 2023
DeLabs, the company behind y00ts, recently announced through its X (Twitter) account on August 9th that it will be shifting to Ethereum to align with its DeGods NFT collection. The DeGods collection had initially moved from Solana to Polygon in April, with the migration starting in March.
The decision to move to Ethereum was made to bring together the y00ts and DeGods communities, as both collections are now on the same blockchain. y00ts clarified that they still have an appreciation for Polygon, but they see it as the right time to unify the communities.
As part of this transition, y00ts has also stated its intention to return a $3 million grant it received from Polygon Labs in January. This grant was originally given to support y00ts’ migration efforts. y00ts expressed that they will return the full grant amount and intend to redirect these funds toward the growth of the NFT ecosystem, benefiting creators and developers.
In summary, the NFT project y00ts is shifting its focus from Polygon to Ethereum, uniting its communities and returning a $3 million grant received from Polygon Labs for the purpose of further advancing the NFT ecosystem.
1. We tried our best to make it work but we just need to bring our 2 communities together.
I would appreciate it if everyone remains respectful of all parties involved.
It’s all love. https://t.co/6AT4SMUT76
— Frank (@frankdegods) August 9, 2023
The announcement received a blend of responses from members within the NFT community.
Certain experts in the field extended their endorsement and solidarity towards the NFT project’s creator, FrankDeGods. On the other hand, a portion of individuals raised apprehensions regarding the apparent decline in the state of Polygon’s NFT ecosystem.
Huge blow to the Polygon NFT ecosystem
but organic NFT demand on Polygon seems nonexistent
I support this choice, feels like it was a no brainer tbh
Happy for y00t holders, this is an easy dub https://t.co/TwWtLTpq26
— Iced (@IcedKnife) August 10, 2023
Based on NFT Price Floor data, DeGods and y00ts presently hold the 6th and 22nd positions for the highest floor prices, with values of 8.66 ETH (approximately $16,065 at an ETH value of $1,848) and 1.35 ETH (around $2,465) respectively.