ETH
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.
Latest News
May 11, 2024
Weekly Article Recap: 5/06-5/10
May 10, 2024
IMF Urges Nigeria to License Crypto Exchanges for Enhanced Regulation
May 10, 2024
Ethereum Network Activity Cools Off: Will $ETH’s Price Go Any Farther This Month?
May 10, 2024
Binance and KuCoin Eyes Return to India with FIU Registration
May 9, 2024
DWF Labs Market Manipulation Allegations: What We Know
May 9, 2024
JPMorgan Predicts SEC's Robinhood Notice Won't Block Ethereum ETF Approvals
May 9, 2024
Donald Trump Opens Presidential Campaign to Crypto Donations
May 8, 2024
Donald Trump to Host Exclusive Dinner for Mugshot NFT Holders Amid Legal Battles
More News