Terra Projects Flee to Polygon Following the UST-LUNA Collapse

A plethora of NFT tasks, devs, and their ecosystems have been left stranded within the Terra wreckage. Two months later, nearly 50 crypto tasks and their coders primarily based on the fallen community have now discovered a brand new house in Polygon.

• The tasks embody P2E metaverse,  Lunaverse, the A.I. generated NFT universe, DystopAI,  and Terra’s extra profitable PFP collections corresponding to Hellcats and Babybulls.
• In a tweet, Polygon Studios CEO Ryan Wyatt confirmed the numbers stating that these tasks have allied to maneuver to the Polygon community.

“It was so superior to assist and welcome all these fantastic builders to our thriving ecosystem! Welcome!”

• A number of competing blockchains had tried to woo builders whose work was endangered by the Terra implosion.
• Wyatt had additionally stated that Polygon shall be placing capital and assets towards these migrations to welcome the builders and their respective communities to the platform.
• The layer-2 blockchain constructed on Ethereum unveiled a “comparatively uncapped multimillion-dollar fund” shortly thereafter.
• Polygon deliberate to finance the fund with the assistance of the just lately raised $450 million led by Sequoia Capital India.
• Terra-based NFT market OnePlanet was the primary one to obtain funding from Polygon. The workforce, which consisted of round 30 individuals, has moved to the blockchain. Apparently, OnePlanet has additionally been serving to different NFT tasks’ migration by way of a brand new initiative referred to as – ArkOne.
• After contemplating key elements corresponding to mass adoption, market alternatives, stability, and foundation-level help, OnePlanet announced partnering with Polygon to turn out to be a devoted market for all migrating Terra NFT tasks to the Polygon ecosystem.
• In the meantime, one other high-profile metaverse P2E sport, Derby Stars, has migrated to Polygon.