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The prominent NFT venture y00ts has taken an unexpected step by transitioning to a new blockchain network. After moving a significant portion of its NFTs from Solana to Polygon earlier this year, the project has now surprised the community by moving to Ethereum. The announcement was made by DeLabs, the pioneering NFT company responsible for y00ts, through their Twitter account on August 9.
This strategic decision is in alignment with the transition of its DeGods NFT series, which also shifted blockchain networks. Initially, y00ts revealed its plan to migrate from Solana to Polygon in December. The official transition began on March 28, and by March 30, Polygon reported that 11,633 out of 15,000 y00ts NFTs had successfully moved.
DeLabs provided insight into the rationale behind this move, emphasizing the intention to unite the y00ts and DeGods communities. The DeGods project itself had shifted from Solana to Ethereum in April, further connecting the trajectories of the two projects. y00ts stated its commitment to Polygon, citing the consolidation of communities as the motivation behind the blockchain shift.
Adding an intriguing layer to the situation, DeLabs disclosed their decision to return a substantial $3 million grant received from Polygon Labs in January. Originally intended to facilitate the transition, the entire grant will now be returned and redirected towards nurturing the NFT ecosystem to support builders and creators.
As anticipated, the move stirred a range of reactions within the NFT space. While some supporters stood firmly with FrankDeGods, the initiator of the NFT project, others expressed concerns about the potential impact on Polygon's NFT ecosystem. According to data from NFT Price Floor, DeGods and y00ts are currently positioned favorably in terms of price floors, ranking 6th and 22nd, with price floors of 8.66 ETH and 1.35 ETH, respectively.
