The popular non-fungible token (NFT) project y00ts has announced its departure from the Polygon network and revealed plans to migrate to the Ethereum blockchain. This move comes merely four months after the project transitioned the bulk of its NFTs from Solana to Polygon, marking yet another significant shift in its blockchain allegiance.
y00ts NFT Sets to Bid Farewell to Polygon
DeLabs, the brains behind the non-fungible project, made the announcement through their official X (formerly Twitter) account on August 9. The decision to migrate to Ethereum is in alignment with the DeGods NFT collection, another brainchild of DeLabs.
1. y00ts will be migrating to Ethereum.
— y00ts (@y00tsNFT) August 9, 2023
Earlier this year, y00ts had already moved from Solana to Polygon, initially driven by the desire to consolidate its community with the DeGods ecosystem. The migration from Solana to Polygon had been initiated in December, with the actual migration process commencing on March 28.
Impressively, within just two days, Polygon announced the successful bridging of 11,633 y00ts NFTs out of a total of 15,000. However, this transition appears to be a short-lived chapter as the project now prepares to make its home on the Ethereum blockchain network.
DeLabs has also disclosed that it will be returning a substantial $3 million grant provided by Polygon Labs. This grant had originally been intended to support the project’s migration. The returned funds, according to the company, will be earmarked for fostering the growth of the NFT ecosystem, specifically to empower and nurture creators and builders within the space.
Without going into much detail about the decision, the y00ts team said,
“We still love Polygon. It’s just time to unite the DeGods and y00ts communities.”
The news of this migration has been met with mixed reactions within the NFT community. While some industry insiders have voiced their support for y00ts’ founder, Frank DeGods, others have expressed concerns about the impact on Polygon’s NFT landscape. The decision also appears to have affected the trading dynamics, with y00ts NFT sales on the rise and DeGods NFTs experiencing a dip.
Details regarding the timing of this migration are anticipated to be revealed shortly. Alongside this announcement, DeGods has teased the imminent launch of a Season III collection, signaling an eventful period ahead for the DeLabs ecosystem.
