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DeFi News

Terra Projects Begin Migration to Polygon Following its Collapse

Terra-based projects like the Lunaverse metaverse platform, the OnePlanet NFT marketplace, and the Derby Stars P2E game moved to Polygon.

Written By Vismaya V
Published 2022-07-12·Updated 1 year ago
Make The Crypto Times preferred on GoogleGoogle
Terra Projects Begin Migration to Polygon Following its Collapse

Following the ultimate collapse of the Terra ecosystem, over 48 crypto projects and coders from the defunct network have begun migration towards the Polygon network.

Polygon Studios CEO Ryan Wyatt shared his excitement by tweeting “It was so awesome to help and welcome all these wonderful developers to our thriving ecosystem!”

https://twitter.com/Fwiz/status/1545555539299487745

Wyatt also mentioned that Polygon will invest funds and resources in these migrations in order to welcome developers and their communities to the platform.

The Lunaverse (LUV) metaverse platform, the OnePlanet NFT marketplace, and the Derby Stars play-to-earn (P2E) game are among the big projects that have moved to Polygon.

Other projects include Terra’s successful PFP NFT collections such as Hellcats and Babybulls, the A.I. generated NFT universe, DystopAI, etc.

OnePlanet has been extremely helpful in assisting other NFT projects in migrating to Polygon. It has evolved into a platform dedicated to aiding Terra’s NFT projects through its Ark*One initiative.

OnePlanet has even thanked Polygon for approving their migration!!

🛳 48 Projects are landing on @0xPolygon with OnePlanet🪐

Thanks to all the Ark*One partner projects and @polygonstudios, we are all moving together to rebuild and grow the NFT ecosystem #onPolygon

Read the full recap on Ark*One: https://t.co/lxTh6WVRJB pic.twitter.com/hnDtzmSA9S

— OnePlanet (@OnePlanet_io) July 8, 2022

Ark*One assures that it will still provide technical support for projects who want to migrate from Terra, and will permit projects to use its launchpad to launch on Polygon.

Developers whose jobs were in jeopardy due to the Terra implosion had been courted by a number of other blockchains. It seems like Polygon has had better luck luring Terra projects than other ecosystems.

In addition to the first 48 projects, “more will be continuing to come over. We’re opening our arms to all who want to come over,” Wyatt noted.

Subscribe to The Crypto Times for more DeFi Insights!!

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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