NFT project y00ts to migrate from Polygon to Ethereum, returns $3 million grant
NFT project y00ts, developed by DeLabs, is set to migrate from the Polygon blockchain to Ethereum. This decision came after another project by DeLabs, DeGods, made a similar migration earlier this year. The founder of DeLabs, Rohun “Frank” Vora, stated that it makes sense for y00ts to be on the same chain as DeGods in order to unite the communities. As part of the migration, y00ts will be returning a $3 million grant that it received from Polygon Labs. Polygon Labs will redirect $1 million of the funds to support other Polygon-native builders and creators.
Main points:
- y00ts is migrating from Polygon to Ethereum.
- The migration decision was made to unite the y00ts and DeGods communities.
- y00ts will return a $3 million grant it received from Polygon Labs.
- Polygon Labs will redirect $1 million of the funds to support Polygon-native builders and creators.
- The floor price of y00ts NFTs has remained static, while DeGods’ floor price has dropped.
In response to the migration, the project leader of DeGods expressed gratitude towards Polygon Labs and emphasized that there is “all love” between the parties. Polygon’s co-founder, Sandeep Nailwal, also showed support for the decision and acknowledged the contribution of Frank and his team in expanding Polygon’s NFT ecosystem. However, the decision has received mixed reactions, with some concerns about the potential impact on Polygon’s NFT ecosystem.
Hot Take
The migration of y00ts from Polygon to Ethereum seems like a strategic move to unite the communities of y00ts and DeGods. By being on the same chain, they can benefit from shared resources and opportunities. While the decision to return the grant may have raised some eyebrows, it showcases the project’s commitment to its vision. The support from Polygon Labs and positive response from the leaders involved indicate a healthy collaboration within the crypto space.
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