Y00ts, a non-fungible token (NFT) collection that has been the second most traded NFT collection on Polygon over the past week, announced that it will migrate to Ethereum, the world’s largest blockchain for NFTs.
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Fast facts
- Y00ts moved to Polygon from Solana earlier this year after reportedly receiving a US$3 million grant from Polygon to do so.
- “We’re returning 100% of the grant provided by Polygon. The funds will be re-deployed for NFT ecosystem growth to empower builders and creators. We still love Polygon. It’s just time to unite the DeGods & y00ts communities,” y00ts said in the Tweet.
- The migration date has not been disclosed as of Thursday, but y00ts said it will be announced “shortly.”
- DeGods, an NFT project founded by y00ts creator Rohun Vora, also known as Frank DeGods, also announced the release of a Season III collection on Thursday. Like y00ts, DeGods was originally founded on Solana but moved to Ethereum soon after y00ts moved to Polygon. It ranks as the fourth most traded collection on Ethereum in the past week, CryptoSlam data shows.
- “We tried our best to make it work but we just need to bring our two communities together. I would appreciate it if everyone remains respectful of all parties involved. It’s all love,” Vora said on Twitter.
- Y00ts is the second major NFT collection to announce a migration away from Polygon in recent weeks. CyberKongz in late July said it is building a bridge to the Ronin blockchain for its Play and Kollect NFT game.
- The Forkast 500 NFT index gained 1.22% to 2,491.47 in 24 hours to 8.45 p.m. in Hong Kong. Forkast’s Ethereum, Solana and Polygon indexes all logged gains in the last 24 hours, but are down on the week. Polygon rose 0.13% on the week.
- According to CryptoSlam data, NFT sales volume on Ethereum gained 2.15% to US$9.40 million over the last 24 hours, while that on Polygon dropped 55.98% to US$2.39 million. Over the same period, y00ts was the second most traded Polygon collection with its sales volume surging 411.12% to US$463,571.
See related article: Most of NFT industry working on recycled liquidity, says Forkast Labs’ co-founder
