The Migration of Y00ts NFT Collection: Returning Grant Money and Uniting Communities
Y00ts, a popular non-fungible token (NFT) collection, has decided to migrate from Polygon and return the $3 million grant it received. The project plans to move to Ethereum to bring together the DeGods and y00ts communities. The migration date will be announced soon, and DeGods will release a Season III collection alongside the move. Previously, both projects announced their departure from Solana due to reaching their maximum potential. Y00ts had migrated to Polygon earlier, using the grant money for team expansion. Polygon intends to redeploy $1 million of the refunded grant to support its native builders and creators.
Key Points:
- Y00ts NFT collection is migrating from Polygon to Ethereum.
- The $3 million grant received from Polygon will be returned.
- The migration aims to unite the DeGods and y00ts communities.
- DeGods will release a Season III collection alongside the migration.
- Polygon plans to redeploy $1 million of the refunded grant to support its builders and creators.
Y00ts and DeGods have expressed their gratitude towards Polygon Labs and believe that being on the same chain will benefit their projects. Polygon co-founder Sandeep Nailwal has shown support for the decision, acknowledging the contributions of y00ts in expanding Polygon’s NFT ecosystem. The response to the announcement on X has been mixed, but y00ts NFT sales have seen an increase while DeGods’ sales have declined on OpenSea.
Hot Take:
The migration of the Y00ts NFT collection showcases the dynamic nature of the crypto industry, with projects seeking opportunities to unite communities and maximize growth potential. By returning the grant money and moving to Ethereum, Y00ts aims to align itself with DeGods and create a stronger presence in the NFT space. This decision also highlights the collaborative efforts between projects and platforms, as Polygon plans to support its native builders and creators with the refunded grant. Overall, this migration is a strategic move that reflects the evolving landscape of the crypto world.
Cora Skindell is a standout figure in the world of cryptocurrency analysis, research, and editorial expertise. As a seasoned crypto analyst and researcher, Cora’s insights delve deep into the complexities of digital assets, resonating with a diverse audience. Her ability to dissect intricate crypto concepts is complemented by her adept editorial skills, enabling her to distill complex information into easily understandable content.