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DeLabs’ y00ts Plans Migration to Ethereum, Just Months After Landing on Polygon
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Formerly a Solana-native project, the generative NFT art collection y00ts earlier this year received a $3 million non-equity grant from Polygon’s partnership fund to help it migrate into its ecosystem. The Los Angeles-based startup DeLabs (creators of y00ts) said it would use the funds to expand its hiring efforts and establish a crypto incubator to support its NFTs. Alongside y00ts, DeLabs moved its other flagship project, DeGods, from Solana to the Ethereum blockchain.
Solana to Polygon to Ethereum
In a new update sent yesterday, DeLabs founder Rohun Vora (Frank) confirmed that y00ts is set to migrate again, this time to the Ethereum mainnet as it is just time to unite the DeGods & y00ts communities.
Frank lauded the exceptional partnership y00ts had established with Polygon Labs. He justified y00ts’ decision to align itself with the same blockchain as DeGods while expressing an appreciation for the opportunity to collaborate with the multitude of outstanding and dedicated professionals at Polygon Labs.
To learn more about Solana and Polygon, check out our Solana vs Polygon guide.
Frank also teased the upcoming Season III, focused explicitly on DeGods NFTs. y00ts said that it will refund the entire grant amount allocated by Polygon Labs as it moves into its new home, though a date for the transition has yet to be listed.
Polygon to reallocate the y00ts funds into its NFT community
On its part, Polygon Labs has announced that a portion of the refunded capital, totaling $1 million, would be directed towards empowering “Polygon-native builders and creators,” with the specifics of this allocation to be disclosed in due course. Polygon co-founder Sandeep Nailwal highlighted the remarkable expansion the Polygon PFP ecosystem has seen as he lauded the instrumental role played by DeLabs in tripling the size of this community this year alone.
He added that Polygon’s commitment to nurturing its PFP community further would be fortified through reinvestment of the y00ts funds, as the chain is dedicated to supporting native creators and ventures that have demonstrated the foresight and determination to advance NFTs, not just as an artistic expression, but also as an instrument of limitless utility.
To learn more about Ethereum visit our Investing in Ethereum guide.
