<\/p>\n
The well-liked y00ts non-fungible token (NFT) project is shifting from the Solana blockchain to the Polygon network. This change aims to make transactions quicker and cut down on network fees.<\/p>\n
Y00ts made the official announcement in December, ending months of guesswork. DeLabs, the Los Angeles startup responsible for y00ts and its sibling project DeGods<\/a>, got a $3 million grant from Polygon to help with the move. DeGods is also leaving Solana and plans to connect with Ethereum.<\/p>\n Launched in September 2022, y00ts is using a cross-chain bridge to bring its 15,000-edition generative art collection to Polygon. To start the migration process, current holders can go to the y00ts website<\/a> and link their wallets.<\/p>\n To encourage holders to move their NFTs to Polygon, DeLabs is not charging network fees for the first day. The team is also giving y00ts holders a chance to win a DeGods NFT based on Ordinals and recorded on the Bitcoin network. Staking will be free, and holders will get $5 USDC for each Y00t listed on the Magic Eden NFT marketplace<\/a>. If holders don\u2019t move their NFTs by April 3, they\u2019ll face a 33.3% \u201cPaper Hands Bridge Tax\u201d as a penalty, which will result in higher royalty fees.<\/p>\n Rohun Vora, the project\u2019s leader known as Frank, shared on Twitter that the move is not without risk. \u201cI know that this is a risk. I don\u2019t know what\u2019s going to happen today, tomorrow, or throughout the first few weeks. But I know we\u2019re going to make it work,\u201d he wrote. \u201cThe short-term might be out of our control, but the long-term is completely in our entire community\u2019s control.\u201d<\/p>\n OpenSea reports that nearly 10,000 y00ts have already moved to Polygon. The collection\u2019s floor price is about 1.8 ETH, or around $3,200.<\/p>\n This move marks another success for Polygon, which keeps growing its partnerships with big names like Starbucks<\/a>, Nike, Reddit<\/a>, Instagram, and DraftKings<\/a>.<\/p>\n Y00ts is a popular non-fungible token (NFT) project featuring a 15,000-edition generative art collection. It was initially launched on the Solana blockchain and recently migrated to the Polygon network.<\/p>\n The Y00ts NFT project migrated to Polygon to enable faster transactions and reduce network fees, offering a more efficient and cost-effective experience for its users and collectors.<\/p>\n To migrate your Y00ts NFTs to Polygon, visit the official y00ts website and connect your wallet. The platform will guide you through the migration process using a cross-chain bridge.<\/p>\n Y00ts holders were offered waived network fees for the first 24 hours, a chance to win an Ordinals-based DeGods NFT inscribed on the Bitcoin network, free staking, and $5 USDC per Y00t listed on Magic Eden.<\/p>\n Holders who didn\u2019t migrate their NFTs to Polygon by the specified deadline were subject to a 33.3% \u201cPaper Hands Bridge Tax,\u201d resulting in a fine payable through increased royalty fees.<\/p>\n<\/div>\n<\/div>\n<\/div>\n
\nFrequently Asked Questions<\/h3>\n
\nWhat is the Y00ts NFT project?<\/h3>\n
Why did Y00ts migrate from Solana to Polygon?<\/h3>\n
How can I migrate my Y00ts NFTs to Polygon?<\/h3>\n
What incentives were offered to Y00ts holders for migrating to Polygon?<\/h3>\n
What happens if a Y00ts holder doesn\u2019t migrate their NFTs to Polygon?<\/h3>\n