This NFT project has a long history of moving from one blockchain to another. At the beginning of this year, this NFT project operated in the Solana network before they made their first move.
Apparently, the new network was the nearby Polygon, but there's a catch in this new move. Polygon gave this NFT project a whopping $3 million grant to build on their blockchain. However, it appears the partnership between the two parties is over after they announced a new move to another blockchain. This time around, it is to the Ethereum network.
Y00ts NFT Mint, a non-fungible token (NFT) project, has made an infamous history of constantly moving from one blockchain to another. On Twitter (now X), they announced they would be moving to the Ethereum blockchain. But previously, they were the second most traded NFT project on Polygon last week.
The move to the Ethereum blockchain after spending less than a year at the Polygon blockchain raises many concerns from the NFT and crypto community. More importantly, the Polygon blockchain had given Yoots as much as $3 million before they moved to their network. Now, they are moving to another network. But there's an important detail. Yoots said they would be returning the grand in full.
"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," Yoots said in the tweet.
Yoots haven't given their community a date for the much-anticipated move to the Ethereum blockchain. Nevertheless, they said they would release the date "soon."
2. We're returning 100% of the grant provided by Polygon.— y00ts (@y00tsNFT) August 9, 2023
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.
More Details About Yoots Move to Ethereum Blockchain
Yoots shares good history with the DeGods NFT project. They have the same owner named Rohun Vora, also known as Frank DeGods.
DeGods NFT was originally founded in Solana before they decided to move to the Ethereum network. At the time they moved to the Ethereum network, Yoots was having an NFT migration to the Polygon blockchain. Now, the creators of this NFT say they are moving Yoots to the Ethereum network because they want to reunite the two NFT projects.
"We tried our best to make it work but we just need to bring our 2 communities together. I would appreciate it if everyone remains respectful of all parties involved. It’s all love," Rohun Vora said on Twitter.
He also used the traffic gathering on Twitter to make the announcement of the release of a Season III collection of DeGods NFTs. He asked the newly merged community of Yoots to come together and support the launch.
"In the spirit of transparency, we want to be clear that Season III is going to be all about DeGods.
We would appreciate it if the y00ts community shows up for us. We’re all one big family.
In return, we’ll go even harder on y00ts 2," Rohun Vora added.
Many NFT and crypto users have reacted to the new development. Some blame Yoots for using the Polygon blockchain as a training ground before moving to the Ethereum network. Others are saying that the situation in the Polygon blockchain must be really bad for an NFT project to return a $3 million grant in full.