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"Mencius' mother moved three times"? Solana NFT project "y00ts" regrets moving from Polygon and announces advancement to Ethereum

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After undergoing a mainnet migration at the end of last year, NFT project y00ts has once again announced its departure from Polygon to move to Ethereum.

Solana NFT Project y00ts

y00ts, launched last year, was one of the few projects that attracted community attention during the bear market. It was created by NFT creator Rohun Vora, who also created another iconic NFT project on Solana, DeGods.

y00ts initially sparked controversy during its minting due to technical issues.

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y00ts

y00ts Receives Sponsorship to Migrate to Polygon

In December of last year, y00ts announced its migration from Solana to Polygon. The previous project, DeGods, migrated to Ethereum, and as a result, the daily trading volume of both projects doubled, with average prices also increasing.

Review: Solana NFT Projects DeGods and y00ts Experience Surge in Trading Volume After Migrating to Ethereum

Additionally, the Solana Foundation confirmed at the time that the DeGods team had requested a sponsorship of $5 million from them to decide whether to stay on Solana.

Project founder Rohun Vora later admitted that Polygon had paid them migration fees through a collaboration fund, emphasizing that the amount of sponsorship was not as significant as everyone thought.

Now, y00ts has announced its departure from Polygon once again, revealing that the amount involved is $3 million.

y00ts to Return Sponsorship Fees and Migrate to Ethereum

y00ts began migrating to Polygon on March 28th of this year, with nearly 77% of y00ts NFTs having completed the migration that month. However, they are now returning to Ethereum.

Founder Rohun Vora did not provide specific reasons, only stating that it was to unite the communities of the two NFT projects under their umbrella.

The official y00ts Twitter account stated that they will refund 100% of the sponsorship fees to Polygon, with the migration date to be announced later.

Why Does y00ts Keep Moving?

NFT collector Lamboland believes there are two main reasons:

Low Liquidity and High Friction in Polygon's Fund Flow

Using the total NFT sales as an example, Ethereum is eight times that of Polygon, and the lack of liquidity is the reason for the widening gap in floor prices between DeGods and y00ts.

Furthermore, buying NFTs on Polygon requires an additional cross-chain step, further increasing transaction friction.

NFT Sales on Different Chains

Polygon Becomes the Preferred NFT Public Chain for Web2 Companies?

Companies like Starbucks and 7-Eleven's Slurpee NFT have chosen to issue on Polygon, gradually positioning Polygon as a public chain for Web2 cooperation to release low-cost NFTs.

This positioning does not align with y00ts, which is taking a luxury route.

Perhaps y00ts' migration to Polygon was intended for collaboration with these Web2 companies, but evidently, it was not successful.

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Despite this, NFT collector Lamboland expressed great anticipation for y00ts' migration to Ethereum.

According to OpenSea data, y00ts' sales in the past seven days have increased by 44%, with a 60% increase in trading volume.

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