Y00ts Migrates to Ethereum and Returns $3M of Grant Funds to Polygon

Non-fungible token venture y00ts introduced that it plans emigrate to the Ethereum blockchain. Earlier this 12 months, the gathering, which was initially minted on Solana, acquired a $3 million grant from Polygon Labs to maneuver the gathering to Polygon.

Revealed: 10 August 2023, 4:01 am Up to date: 10 Aug 2023, 4:02 am

As y00ts has determined to maneuver the gathering from Polygon to Ethereum, it can return 100% of the grant offered to Polygon Labs. The latter famous that the funding will probably be redeployed for non-fungible token ecosystem development to empower builders and creators. As of the time of writing, y00ts has not shared extra particulars. Based on the publish revealed on X, the migration date will probably be introduced within the following days. 

“We nonetheless love Polygon. It’s simply time to unite the DeGods and y00ts communities,” wrote y00ts in a publish on its official X profile.

DeGods is initially a Solana-based assortment of 10,000 PFP-styled NFTs, launched in October 2021. In April of this 12 months, the gathering migrated to Ethereum.

Y00ts is DeGods’ second venture, launched in September 2022. It options 15,000 NFT Yeti artworks with completely different traits. Earlier than the venture’s minting went stay, people keen to obtain entry to the allowlist needed to fill out a query type with their information and reply a number of questions. Following this, the venture’s creators selected who was worthy sufficient to take part within the mint, stating that they goal to construct a group of “the best individuals in web3.” Earlier this 12 months, y00ts migrated to Polygon. The corporate was planning to make use of Polygon Labs’ funds to increase the crew and proceed to develop the venture.

Notably, most y00ts NFT holders are pleased with the venture’s determination. “It’s a terrific transfer,” wrote the co-founder of The Sports activities Meta, referred to as Loop on X. 

Nonetheless, the $3 million given to y00ts emigrate to Polygon may have been used for the venture’s growth, communications and advertising and marketing, crew enlargement, and the creation of extra advantages for holders. For example, with such funds, the corporate may have developed a aspect assortment and airdropped it to DeGods and y00ts house owners, thus creating extra recognition from the holders’ aspect. 

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