NFT Project y00ts Shifts from Polygon to Ethereum, Returns $3M Grant
DeLabs, the NFT company behind y00ts, has announced its plans to migrate from Polygon to Ethereum. This decision comes only four months after the project transitioned most of its NFTs from Solana to Polygon. The intention behind this move is to unify the y00ts community with the DeGods NFT collection, which previously shifted from Solana to Ethereum.
Although y00ts appreciated the support from Polygon, they intend to merge the DeGods and y00ts communities. As a result of this decision, DeLabs has committed to return the $3 million grant provided by Polygon Labs in January to aid the initial move from Solana to Polygon. The returned funds are designated to be reinvested in NFT ecosystem growth, benefiting creators and developers.
The NFT community has shown mixed reactions to this news. Some support the decision made by the project founder FrankDeGods, while others are apprehensive about the future of Polygon’s NFT environment. Presently, DeGods and y00ts rank 6th and 22nd in terms of floor prices in the NFT market, with valuations of 8.66 ETH ($16,065) and 1.35 ETH ($2,465) respectively.
https://cointelegraph.com/news/nft-y00ts-returns-polygon-grant-migrates-to-ethereum
cointelegraph.com
NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum
NFT firm DeLabs has decided to bridge NFT projects, y00ts, to Ethereum from Polygon in order to reunite it with DeGods, DeLabs’ top-performing NFT project. It isn’t the first time y00ts has switched blockchain in the last 12 months.
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