DeLabs-owned NFT project y00ts is taking its non-fungible IP to a new terrain – the Ethereum network. Spending around seven months in the Ethereum layer-2 blockchain Polygon network, y00ts announced that it will be leaving the blockchain to join its sister NFT project DeGods in the Ethereum mainnet.
In its recent announcement, y00ts stated that the reason for the migration is to “unite the DeGods & y00ts communities.” Both NFT projects were originally hosted on the layer-1 blockchain Solana and in December 2022 they announced their plans to move to other blockchain networks.
The announcement came at a time the Solana ecosystem struggled with its finances due to the crypto market conditions and its connection to the infamous founder of the bankrupt crypto exchange Sam Bankman-Fried. During the first quarter of this year, DeGods moved to Ethereum, and y00ts migrated to Polygon.
Upon moving to Polygon, y00ts received a $3 million grant from Polygon Labs as a way of expanding its operations and workforce. Following its impending exodus from the Polygon mainnet, y00ts stated that it would return the entirety of the funds received from Polygon Labs.
Despite the short-lived stay in the Polygon network, Polygon co-founder Sandeep Nailwal stressed that y00ts’ presence helped boost its growing NFT community, when he said:
“Frank and team played a huge role in helping us expand the NFT ecosystem on Polygon. We will continue to nurture this community that’s tripled in size this year by redeploying the y00ts funds and more to support our native creators and projects we believe have the vision and conviction to help evolve NFTs, both as an artform and as a key to boundless utility.”
In the y00ts official Twitter account there is also a sign that both parties separated in a friendly and amicable manner. “We still love Polygon. It's just time to unite the DeGods & y00ts communities,” – the Twitter post says.
The date for the immigration is yet to be disclosed. However, this move created a mixed reaction within the community as some stated that y00ts failed to fulfill “the tech they promised Polygon.” Others are on the good side, praising y00ts' efforts to join its sister project on the Ethereum network.
Let’s wait and see how things will unfold for y00ts on the Ethereum network. Stay tuned!