Y00ts, a well-known non-fungible token (NFT) collection that has recently showcased notable trading activity on Polygon, has unveiled its intent to migrate once more, this time to Ethereum, the leading blockchain for NFTs worldwide. This announcement follows Y00ts’ prior transition from Solana to Polygon, facilitated by a reported $3 million grant from Polygon.
The migration aims to unify communities and drive growth within the NFT ecosystem, heralding Y00ts’ return to Ethereum’s expansive platform. While the exact migration date remains undisclosed as of Thursday, Y00ts reassured its community that the announcement will be forthcoming.
In a tweet addressing the migration, Y00ts expressed gratitude to Polygon, affirming, “We’re returning 100% of the grant provided by Polygon. The funds will be re-deployed to foster NFT ecosystem growth, empowering builders and creators. Our appreciation for Polygon remains steadfast. We now aim to unite the DeGods & y00ts communities.”
Adding intrigue to the scene, DeGods, an NFT project initiated by y00ts creator Rohun Vora, known as Frank DeGods, simultaneously revealed the release of its Season III collection. After Y00ts’ shift to Polygon, DeGods followed suit by migrating from Solana to Ethereum. CryptoSlam data highlights that DeGods secured the fourth position among the most traded Ethereum collections in the previous week.
Vora took to Twitter to address the transition, emphasizing the unity among involved parties, stating, “We made every effort to make it work, but our priority is merging our communities. Let’s maintain respect for all parties involved. Love prevails.”
Y00ts stands as the second prominent NFT collection to announce its departure from Polygon in recent times. In late July, CyberKongz unveiled plans to establish a bridge to the Ronin blockchain for its Play and Kollect NFT game.
Reflecting on the broader NFT landscape, the Forkast 500 NFT index experienced a 1.22% uptick, reaching 2,491.47 within 24 hours by 8.45 p.m. in Hong Kong. Over the same period, Ethereum, Solana, and Polygon indexes by Forkast demonstrated gains, yet they registered a decline over the week. Polygon recorded a 0.13% rise for the week.
Comparing NFT sales volumes, CryptoSlam data revealed a 2.15% increase to $9.40 million on Ethereum over the past 24 hours, while Polygon witnessed a 55.98% decrease to $2.39 million during the same span. Amidst this backdrop, Y00ts emerged as the second most traded collection on Polygon, with its sales volume surging by an impressive 411.12% to reach $463,571.
Disclaimer: This article is intended for informational purposes only and does not constitute financial or investment advice. The content is based on information available as of the specified date, and subsequent developments may influence the provided context or details.
