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Blockchain News

Y00ts NFT Project Announces Migration from Polygon to Ethereum

In a surprising move, the popular non-fungible token (NFT) project, y00ts, has announced its intention to migrate from Polygon to Ethereum. The project’s decision aims to bring together the DeGods and y00ts communities, marking a significant shift in its development.

Y00ts had initially migrated from Solana to Polygon earlier this year, but now the project is making another switch, this time in favour of Ethereum. As part of this migration, the project will return a $3 million grant provided by Polygon.

The project’s official Twitter account stated, “We still love Polygon. It’s just time to unite the DeGods and y00ts communities.” While the exact migration date is yet to be announced, the y00ts team is actively working on the transition.

Upon the successful migration, y00ts will join the DeGods collection on the Ethereum network. Both NFT projects were initially launched on Solana in October 2021 by Rohun Vora, also known as Frank. Notably, DeGods had previously migrated to Ethereum in April.

After the announcement, Frank expressed his efforts to merge the two communities and create a stronger bond. He emphasized that the upcoming Season III would be centred around DeGods, while still appreciating the support of the y00ts community.

The market response to this news was intriguing. The floor price of y00ts NFTs experienced a 7.2% increase in the past 24 hours, reaching 1.88 ETH. On the other hand, the floor price of DeGods NFTs encountered a 4.9% dip, settling at 8.9 ETH, based on data from CoinGecko.

According to CoinGecko’s data, DeGods currently ranks as the third most-traded NFT collection in terms of 24-hour trading volume, while y00ts is the eighth most-traded.

The y00ts project’s migration from Polygon to Ethereum underscores the dynamic and evolving nature of the NFT space as projects continually adapt to better align with their goals and community dynamics.

 

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