y00ts NFT Leaves Polygon For Ethereum – Set To Return $3 Million Grant

Y00ts NFT project has announced its sudden move that made shockwaves through the NFT community. Four months after its migration from Solana to Polygon, y00ts is now moving to the Ethereum blockchain. This groundbreaking decision aims at fostering a sense of unity among its diverse communities, making another remarkable twist in y00ts’ journey.

DeLabs, the team behind y00ts NFT project made the announcement on August 9th via X (formerly Twitter). The migration to Ethereum aligns with another brainchild of DeLabs, the “DeGods NFT collection”.

It wasn’t too long when y00ts migrated from Solana to Polygon where it migrated 11,633 y00ts out of its 15,000 collection in just 2 days. However, the migration appears to be a short-lived chapter and the project is now preparing to make its home on the Ethereum blockchain network.

DeLabs has also announced that it will be returning the $3 million grant given by Polygon Labs which was initially to support the project’s migration. DeLabs will allocate $1 million to support Polygon native builders and creators. The redistribution highlights the quality of handling the blockchain landscape and prompts responses from the NFT market.

Meanwhile, the floor price of y00ts NFTs on OpenSea went up indicating that investors and collectors are closely monitoring the project’s developments. Currently, DeGods and y00ts sit at the 3rd (8.50 ETH) and 8th (1.83 ETH) in floor price rankings according to CoinGecko.

Furthermore, this migration has been witnessing mixed reactions from the NFT community. While some industry insiders have expressed their support for y00ts, others have expressed concerns about the impact of the migration on Polygon’s NFT landscape. Apparently, the decision seems to be affecting the trading dynamics, with y00ts on sales on the rise and DeGods NFTs experiencing a dip.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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