source: Opensea.io

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In a surprising turn of events, the non-fungible token NFT project y00ts is once again changing its blockchain network, migrating from Polygon to Ethereum. This decision marks a significant transition for the project that had recently shifted from Solana to Polygon. The move comes as part of y00ts’ strategy to unify its community alongside its DeGods NFT collection on the Ethereum platform.

Returning the Grant: Navigating the Transition

DeLabs, the creative force behind y00ts, took to social media to announce the transition, stating that they intended to bring together the DeGods and y00ts communities. 

The NFT collection had previously shifted from Solana to Polygon in an effort to explore new opportunities and expand its reach. This time, the migration to Ethereum is driven by the desire to consolidate these distinct communities under one roof.

In a surprising move, DeLabs also disclosed their decision to return a substantial $3 million grant provided by Polygon Labs, the same entity that had supported their migration to Polygon earlier in the year. 

This funding, initially intended to facilitate their transition, will now be directed towards fostering NFT ecosystem growth, enabling builders and creators to thrive within the space.

From Solana to Polygon and Now Ethereum

The journey of y00ts has been marked by a series of network shifts. Originating on Solana, the project first transitioned to Polygon, spurred by a desire to explore new opportunities and escape the aftermath of the FTX collapse that had impacted the Solana network. However, the call to unite their user base alongside the DeGods community has led y00ts to yet another migration, this time to Ethereum.

Community Reactions and Price Dynamics

News of the migration and grant return elicited a mix of reactions from the NFT community. Some industry experts expressed support for the project’s founder, FrankDeGods, while others raised concerns about the health of Polygon’s NFT ecosystem. These varied responses highlight the complexities and implications of such moves within the evolving NFT landscape.

The impending transition has also had a discernible impact on the floor prices of both y00ts and DeGods NFT collections. CoinGecko data reveals that the floor price of y00ts experienced a notable 7.2% increase within a single day, reaching 1.88 ETH. Conversely, the floor price of DeGods witnessed a 4.9% decrease, resting at 8.9 ETH. These fluctuations underscore the sensitivity of the NFT market to news and shifts within projects.

Looking Forward: Unifying Communities and Expanding Possibilities

NFT-Etherum-Image to emphasise NFT Project y00ts moving toethereum block chain

As y00ts prepares to make its way to Ethereum, the project’s decision to return the grant provided by Polygon Labs demonstrates a commitment to nurturing a thriving NFT ecosystem. The funds’ redirection towards empowering builders and creators bodes well for the future growth and development of the NFT space, creating a positive ripple effect throughout the community.

The migration of y00ts from Solana to Polygon and now to Ethereum serves as a testament to the dynamic nature of the NFT landscape. The project’s journey underscores the ever-evolving strategies employed by creators and developers to align their projects with the interests and aspirations of their communities. As the NFT ecosystem continues to unfold, the spotlight remains on projects like y00ts, illustrating how collaboration, adaptability, and community-driven decisions shape the trajectory of the digital art and collectibles landscape.