HomeNewsY00ts NFTs Leap to Ethereum, Returns $3M Grant to Polygon

Y00ts NFTs Leap to Ethereum, Returns $3M Grant to Polygon

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  • Y00ts NFT collection, previously prominent on Solana, shifts its base from Polygon to Ethereum.
  • The migration is aligned with the goal to consolidate the Y00ts and DeGods communities on a unified platform.

A New Chapter for Y00ts and DeGods on Ethereum

The Y00ts NFT collection, which has made waves in the digital art space, has unveiled its strategic decision to transition away from Polygon. The noteworthy aspect of this move is the collection’s decision to refund the generous $3 million grant it had been awarded by Polygon earlier this year. The driving force behind this transition, as expressed by the Y00ts team, is to synergize the communities of Y00ts and DeGods, another flagship project by the LA-based firm, DeLabs.

DeGods, having transitioned to Ethereum in April, seems to have set a precedent for Y00ts. With an impending announcement about the exact date for Y00ts’ migration, DeGods simultaneously teased the audience about its upcoming Season III collection.

Y00ts and DeGods: Dominant Players in the NFT Space

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Tracing back to December, both these projects, which commanded a significant presence on Solana, signalled their exit from the platform. Rohun Vora, DeGods’ project spearhead, frequently known as ‘Frank’ in the community, elaborated in a Twitter Spaces session that they had reached their growth potential on Solana. To put this into perspective, the combined sales of DeGods and Y00ts previously constituted a massive 70% of Solana’s NFT sales, as per data from the NFT marketplace, Magic Eden.

The earlier shift of Y00ts to Polygon was marked by ambitious plans to allocate the grant towards team augmentation and propelling the project’s growth. In light of Y00ts’ return of the grant, Polygon intends to channel $1 million of the recouped amount to bolster its indigenous network of innovators and artisans.

Vora’s tweet emphasized the amicable nature of this transition. He stressed the need to unify their twin communities and expressed profound gratitude for Polygon Labs’ unwavering support. He accentuated,

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“…we believe it makes the most sense for y00ts to be on the same chain as DeGods.”

Polygon’s co-founder, Sandeep Nailwal, reciprocated with commendation for Vora and his team, acknowledging their instrumental role in amplifying Polygon’s NFT milieu. He reiterated Polygon’s commitment to advancing its community, which has grown exponentially this year.

Post-announcement reactions on X, formerly known as Twitter, manifested a spectrum of sentiments. Notably, most community voices resonated in favor of Y00ts’ latest move. Subsequent to the announcement, the market responded with a surge in Y00ts NFT sales, contrasting with a decline in DeGods NFTs, as reported by OpenSea.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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