The y00ts NFT project is making yet another transition between blockchain networks, just four months following its move from Solana to Polygon for the majority of its NFTs.
DeLabs, the NFT company responsible for y00ts, revealed through its X (Twitter) account on August 9th that it intends to shift to Ethereum in conjunction with the launch of its DeGods NFT collection.
In April, the majority of the NFT collection had been transferred from Solana to Polygon. The initial announcement of this shift was made in December, and the migration process commenced on March 28. By March 30, Polygon had confirmed the successful bridging of 11,633 out of the total 15,000 y00ts NFTs.
DeLabs stated that the purpose of this move was to bring together the y00ts and DeGods communities. The DeGods community had also declared its intention to migrate away from Solana in December, and like y00ts, it initiated the migration from Solana to Ethereum in early April.
“In our hearts, our fondness for Polygon remains unwavering. Yet, the hour has come to bring the DeGods and y00ts communities together,” expressed y00ts in an official statement.
Additionally, the team has revealed its decision to give back a $3 million grant bestowed by Polygon Labs. This grant was initially received in January from the blockchain company to facilitate the migration process.
“We are committed to returning the full grant extended by Polygon. These funds will be reinvested to foster the expansion of the NFT ecosystem, empowering innovators and artists,” the statement emphasized.
The announcement triggered a blend of responses from members within the NFT community.
Certain experts within the industry rallied around NFT project founder FrankDeGods, extending their encouragement and endorsement. Meanwhile, there were those who voiced apprehension regarding the apparent decline in Polygon’s NFT ecosystem vitality.
Based on NFT Price Floor data, DeGods and y00ts presently hold the positions of the 6th and 22nd highest floor prices, valued at 8.66 ETH (equivalent to $16,065) and 1.35 ETH (equivalent to $2,465), respectively.