DeLabs Returns Polygon’s $3M Grant, Announce y00ts Migration to Ethereum & Tease DeGods Season 3
DeLabs migrate y00ts to Ethereum, refunds $3M grant back to Polygon, tease DeGods Season III & launch new points parlor rewards game
TL;DR: In an unexpected move, DeLabs is migrating its y00ts collection over to Ethereum, returning a $3 million grant from Polygon in the process. The move unifies y00ts with DeLabs’ leading DeGods project under one chain. Simultaneously, DeGods unveiled Season III NFTs and Points Parlor, a new game enabling real-world rewards.
In a surprising move, DeLabs (parent company of the popular DeGods and y00ts NFTs) announced plans to migrate its y00ts collection from Polygon to Ethereum mainnet, uniting it with their DeGods community. DeLabs will also return the entirety of a $3 million grant provided by Polygon when y00ts originally shifted there from Solana in April.
The migration’s intent is to combine the DeGods and y00ts communities under one chain, according to DeLabs founder Rohun “Frank” Vora. He added that while Polygon has been an “incredible partner,” having both projects on Ethereum makes the most sense long-term.
Polygon’s co-founder Sandeep Nailwal acknowledged DeLabs’ contributions to their NFT ecosystem growth and plans to redeploy returned grant funds into native projects. Sentiment from Vora remains positive regarding all parties.
Simultaneously, DeLabs unveiled DeGods Season III, adding 20,000 new NFTs with upgraded artwork and introducing a female character option. Owners can upgrade to Season III starting August 13 using $DUST tokens, which will fund a new Points Parlor game.
Via Points Parlor, Frank aims to pioneer a new model for NFT communities by enabling real-world rewards. Players can potentially win prizes like Teslas, rent money, or groceries. While initially basic, Frank believes this could evolve into a transformative business paradigm.
Response from holders has been mixed but largely positive. Some cite concerns over diminishing utility on Polygon, while others express enthusiasm for the unified communities and rewards potential. DeGods’ floor has risen on secondary markets in the wake of the announcement.
Despite misgivings by some, Frank maintains passion for the long-term vision, closing that they aim to “create experiences that bring joy to our holders lives as frequently as possible.” Although an abrupt shift, the Ethereum migration and new offerings signify DeLabs’ commitment to innovation and community enrichment.