NFT Project y00ts Executes Unexpected Blockchain Shift to Ethereum
The distinguished NFT enterprise y00ts has taken an sudden step by transitioning to a brand new blockchain community. After shifting a good portion of its NFTs from Solana to Polygon earlier this yr, the venture has now shocked the group by shifting to Ethereum. The announcement was made by DeLabs, the pioneering NFT firm chargeable for y00ts, by their Twitter account on August 9.
This strategic choice is in alignment with the transition of its DeGods NFT sequence, which additionally shifted blockchain networks. Initially, y00ts revealed its plan to migrate from Solana to Polygon in December. The official transition started on March 28, and by March 30, Polygon reported that 11,633 out of 15,000 y00ts NFTs had efficiently moved.
DeLabs offered perception into the rationale behind this transfer, emphasizing the intention to unite the y00ts and DeGods communities. The DeGods venture itself had shifted from Solana to Ethereum in April, additional connecting the trajectories of the 2 initiatives. y00ts acknowledged its dedication to Polygon, citing the consolidation of communities because the motivation behind the blockchain shift.
Including an intriguing layer to the state of affairs, DeLabs disclosed their choice to return a considerable $3 million grant obtained from Polygon Labs in January. Initially supposed to facilitate the transition, the complete grant will now be returned and redirected in direction of nurturing the NFT ecosystem to assist builders and creators.
As anticipated, the transfer stirred a variety of reactions throughout the NFT house. Whereas some supporters stood firmly with FrankDeGods, the initiator of the NFT venture, others expressed considerations concerning the potential affect on Polygon’s NFT ecosystem. In accordance to information from NFT Value Flooring, DeGods and y00ts are at present positioned favorably when it comes to value flooring, rating sixth and twenty second, with value flooring of 8.66 ETH and 1.35 ETH, respectively.
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