y00ts NFT Project Announces Migration To Ethereum For Increased Growth
- y00ts NFT project is migrating from Solana to Ethereum and has returned $3 million provided by Polygon.
- All of the grant funds will be re-deployed for NFT ecosystem growth to empower builders and creators.
The NFT project y00ts once again announced the migration. This time, the destination is Ethereum and fully returned the $3 million previously provided by Polygon. It has announced a migration from Solana to Polygon in the first half of this year.
NFT project y00ts recently announced their decision to migrate from Solana to Ethereum. This comes after their previous migration from Ethereum to Solana. In addition, they have fully returned the $3 million previously provided by Polygon.
According to y00ts, all of the grant funds will be re-deployed for NFT ecosystem growth to empower builders and creators. Despite the migration, y00ts still holds Polygon in high regard and aims to unite the DeGods & y00ts communities. The exact date of the migration is yet to be announced.
Ethereum has been a popular platform for NFT projects for quite some time. Despite competing blockchain networks, Ethereum remains the frontrunner due to its robust security and data design, with NFT applications operating on it as ERC-721 tokens. Additionally, the Ethereum blockchain provides significant exposure to a large and emerging industry.
NFTs were born on the Ethereum blockchain, so they sell for a higher average price than on other platforms. Artists prefer Ethereum due to its secure and reliable network, essential for high-value NFT collectibles. Polygon, on the other hand, is more suited for fashionable NFT collectibles, whereas NFT collectibles with genuine value are still mainly on Ethereum.
Although y00ts has recently announced their decision to migrate from Solana to Ethereum, this move is not uncommon in the NFT space. Various projects have migrated to different platforms to take advantage of different features and benefits.
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