Y00ts, a popular NFT collection that launched on the Solana blockchain, is aiming to make its product more accessible by migrating to Polygon.
Polygon is a Layer 2 scaling solution built on top of Ethereum that enables faster speeds and lower gas fees.The move to Polygon should offer y00ts holders and collectors more liquidity and interoperability across blockchains. Here are some more details about the bridge:
- The bridge begins on March 27th.
- Following the bridge, NFT marketplace MagicEden is waiving all fees on y00ts for 30 days.
- By bridging in the first 24 hours, staking will be free, gas fees will be covered, and holders receive $5 USDC for every y00t listed on Magic Eden.
- The y00ts’ team is airdropping a single BTC DeGod to 1 lucky y00t holder that bridges to the Polygon network in the first 24 hours. The winner will be selected randomly.
For holders who are hesitant to bridge, y00ts is implementing a 33.3% Paper Hands Bridge Tax on all y00ts not bridged by April 3rd. In other words, holders who don’t move their NFTs to Polygon will pay a fine in the form of an increased royalty fee.
Y00ts is a generative art project consisting of 15,000 NFTs designed to be aesthetic and functional. It was launched in September 2022 by Dust Labs, the creators of the widely popular NFT project DeGods.
Y00ts NFTs allow owners to change the shape and color of their y00t, as well as add accessories like sunglasses and hats. Y00ts also come with interactive audio components, and the potential for more engaging and personalized NFTs in the future. Their current floor price on MagicEden is 140 Solana or around $2,800.
Polygon Continues to Lead Layer 2 Blockchains
The upcoming migration of y00ts from Solana to Polygon blockchain is exciting for holders of the popular collection. But Dust Labs and y00ts aren’t the only ones who’ve chosen Polygon in recent months. At Rarity Sniper, we’ve covered several stories about companies migrating to Polygon. Here are some of the headlines.
First, two months ago, Alethea AI announced a new decentralized application with Polygon. The dApp will allow users to create NFTs by entering text, which they can trade on Polygon. It can generate full interactive AI characters from a single line prompt.
Next, the Web3 gaming platform that began on Solana, Fractal, recently announced its expansion to Polygon. The move will unleash Fractal’s entire Web3 gaming suite to Polygon, including an NFT launch pad, support for eSports tournaments, and an NFT marketplace for in-game NFTs.
Finally, top NFT marketplace Rarible expanded its marketplace builder program to include Polygon NFT community projects. Now Polygon-based projects can create no-code marketplaces for buying and selling NFTs in their collections.
Polygon has become the most popular Layer 2 scaling solution on Ethereum, and its momentum only appears to be growing. It will be interesting to see how quickly y00ts holders bridge their NFTs to Polygon and how smooth the process is. At Rarity Sniper, we’ll be on the lookout for more developments in the story.