Lucknow(CoinChapter.com): A groundbreaking announcement has sent shockwaves through the blockchain community, as the popular y00ts NFT Collection revealed its migration to Ethereum. The collection, which initially launched on Solana and later moved to Polygon, is now making its way to Ethereum in an effort to strengthen the connection between the DeGods and y00ts communities. This move marks a new chapter for both projects.
Despite receiving a $3 million grant from Polygon earlier this year, y00ts has decided to return the grant in full as it transitions to Ethereum. The goal of this migration is to unite the DeGods and y00ts communities, aligning both projects on the Ethereum platform. DeGods, another project by Los Angeles-based DeLabs, successfully migrated to Ethereum back in April.
While an official migration date has yet to be announced, y00ts enthusiasts can expect a smooth and seamless shift to Ethereum. The DeGods community can also look forward to the debut of the Season III collection, which will coincide with the migration news. This dual revelation is sure to ignite excitement and anticipation within both communities.
The decision to migrate from Solana to Ethereum was a result of the thriving nature of both y00ts and DeGods. Rohun Vora, also known as Frank, the mastermind behind DeGods, explained on Twitter Spaces that the Solana ecosystem had reached its capacity for these projects. According to the NFT marketplace Magic Eden, the dynamic duo accounted for a staggering 70% of all Solana NFT sales volume.
Despite the migration, there is still a sense of camaraderie among all parties involved. Vora expressed his gratitude for Polygon Labs, stating that they have been an incredible partner for y00ts. However, he believes that it makes the most sense for y00ts to be on the same chain as DeGods. Polygon has announced plans to reinvest $1 million from the refunded grant to support its network of creators and developers.
Sandeep Nailwal, the co-founder of Polygon, praised the move and acknowledged the significant contributions of Vora and his team in enhancing the NFT ecosystem on Polygon. Nailwal emphasized the growth of Polygon’s NFT ecosystem, which has been fueled by the collective efforts of both communities.
Reactions to the announcement on Twitter have been mixed, but the majority of the community supports this strategic decision. This transition is already having an impact on the NFT market, with y00ts NFT sales on the rise while DeGods NFT sales experiencing a temporary dip, according to OpenSea data.
Overall, the migration to Ethereum marks an exciting chapter for y00ts and DeGods. As the two communities come together on the same chain, the future looks promising for both projects. The minimum price of y00ts NFTs has also seen an increase, indicating growing interest and value in the collection.
