NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum

by ChainChirp
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Non-fungible token challenge y00ts is once more switching blockchain networks, solely 4 months after bridging nearly all of its NFTs from Solana to Polygon.

DeLabs, the NFT agency behind y00ts, announced through its X (Twitter) account on Aug. 9 it’s going to quickly be migrating to Ethereum in step with its DeGods NFT assortment.

The NFT assortment had principally migrated from Solana to Polygon in April. The transfer was first initially introduced in December, with the migration beginning formally on March 28. By March 30, Polygon introduced 11,633 of a complete of 15,000 y00ts NFTs had been bridged.

DeLabs stated the transfer was to unite its y00ts group with its DeGods group. DeGods had additionally introduced it will be bridging off Solana in December and equally started its migration from Solana to Ethereum at the beginning of April.

DeLabs’ listings of y00ts on NFT market OpenSea. Supply: OpenSea

“We nonetheless love Polygon. It is simply time to unite the DeGods & y00ts communities,” y00ts wrote in a press release.

The group has additionally disclosed will probably be returning a $3 million grant from Polygon Labs, which it had obtained in January from the blockchain agency to assist its migration.

“We’re returning 100% of the grant offered by Polygon. The funds shall be re-deployed for NFT ecosystem development to empower builders and creators,” it stated.

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The information was met with blended reactions by members of the NFT group.

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Some business pundits provided their support and backing behind NFT challenge founder FrankDeGods, whereas others expressed concern concerning the seemingly diminishing state of Polygon’s NFT ecosystem.

According to NFT Value Flooring, DeGods and y00ts at present boast the sixth and twenty second highest ground costs at 8.66 ETH ($16,065) and 1.35 ETH ($2,465) respectively.

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