In a pivotal development, the y00ts NFT project, once a beacon in Solana’s network, is migrating for the second time this year, this time shifting from Polygon to the Ethereum blockchain. At the start of the year, the project’s migration from Solana to Polygon created quite a stir, and the recent announcement is no less impactful.
Providing further context to this decision, y00ts aims to strengthen ties and boost cohesion between the communities of DeGods and y00ts. The initiative echoes the DeGods project, a Los Angeles-based startup, DeLabs, noteworthy move to Ethereum in April this year.
The migration’s exact timeline is still under wraps, but the announcement unveiled y00t’s intention to return a substantial $3 million grant previously received from Polygon. In essence, this move marks a significant merger of the DeGods and y00ts collections, which debuted on Solana in October 2021, on the Ethereum blockchain.
The driving force behind both projects, Rohun Vora, also known as Frank, made it clear that the shift is a strategic move to unify both communities. Expressing his sentiments via Twitter, Frank stated: “We tried our best to make it work but we just need to bring our 2 communities together.” He ensured fans that the upcoming Season III would be DeGods-centric and called for y00ts community’s support.
Interestingly, Polygon co-founder Sandeep Nailwal backed the decision, recognizing the significant role y00ts played in amplifying the size and influence of Polygon’s NFT ecosystem. Nailwal made it clear that they intend to continue nurturing this rapidly growing community that has tripled in size this year by redeploying funds from y00ts and providing more support to native creators and project teams who share Polygon’s vision for nurturing NFTs both as an art form and as a route to boundless utility.
Coinciding with the migration announcement, y00t’s NFT floor price momentarily spiked by as much as 8% only to settle at 1.75000 ETH as per CoinGecko data. The rollercoaster price reaction reflects the consensus in the blockchain community: y00ts’ migration promises to be an influential maneuver whose ramifications will be anxiously watched in the upcoming months.
Source: Cryptonews
