NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum

DeLabs has promised to return the $3 million grant initially provided by Polygon Labs to support y00ts from Solana to Polygon.

Non-fungible token project y00ts is again switching blockchain networks, only four months after bridging the majority of its NFTs from Solana to Polygon.

DeLabs, the NFT firm behind y00ts, via its X (Twitter) account on Aug. 9 it will soon be migrating to Ethereum in line with its DeGods NFT collection.

The NFT collection had mostly from Solana to Polygon in April. The move was

first initially announced in December, with the migration starting officially on March 28. By March 30,

Polygon announced 11,633 of a total of 15,000 y00ts NFTs had been bridged.

DeLabs said the move was to unite its y00ts community with its DeGods community.

DeGods had also announced it would be bridging off Solana in December and

similarly began its migration from Solana to Ethereum at the start of April.

“We still love Polygon. It’s just time to unite the DeGods & y00ts communities,” y00ts wrote in a statement.

The team has also disclosed it will be returning a  which it had received in January from the blockchain firm to support its migration.

“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,” it said.

The news was met with mixed reactions by members of the NFT community.

Some industry pundits offered their and backing behind NFT project founder FrankDeGods,

while others expressed concern about the seemingly diminishing state of Polygon’s NFT ecosystem.

to NFT Price Floor, DeGods and y00ts currently boast the 6th and 22nd highest floor prices at 8.66

ETH

$1,850($16,065) and 1.35 ETH ($2,465) respectively.