NFT Project y00ts Set to Return $3M Grant as it Shifts from Polygon to Ethereum

by BSC News

August 10, 2023


The project plans to return a $3 million grant from Polygon Labs, redirecting the funds to support NFT ecosystem growth.

In a surprising move, the NFT project y00ts has announced via X (formerly Twitter) on August 9, that it is migrating its operations again, from Polygon to join the Ethereum network. The shift aligns with the migration of their DeGods NFT collection to Ethereum.

This move comes just four months after the majority of y00ts' NFTs were transferred from Solana to Polygon. Initially announced in December, the migration officially began on March 28, and by March 30, Polygon had successfully bridged 11,633 out of 15,000 y00ts NFTs.

y00ts clarified that the motivation behind this move is to foster unity between the y00ts and DeGods communities. The project emphasized their continued appreciation for Polygon in a statement, stating, "We still love Polygon. It's just time to unite the DeGods & y00ts communities."

y00ts also declared their intention to fully return the $3 million grant from Polygon Labs that was initially provided in January to support the migration process. The funds from this grant will be redirected towards nurturing growth within the NFT ecosystem for builders and creators, as stated by the project.

The response within the NFT community has been mixed, with some showing unwavering support for FrankDeGods, the founder of the NFT project, while others expressed concerns about the potential impact on Polygon's NFT ecosystem.

Presently, DeGods and y00ts sit at 3rd (8.50 ETH) and 8th (1.83 ETH) in Floor price rankings, respectively, according to Coingecko

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