At least 50 Terra Projects Migrate To Polygon

Recently, a massive relocation of approximately fifty Terra projects has badly hit the market, including the NFT marketplace OnePlanet and the metaverse game Derby Stars to Polygon. This migration took happened quite recently.

On Friday, Ryan Wyatt, the Chief Executive Officer of Polygon Studios, said on Twitter that the company will invest funds and resources in fighting migrations. As a result, they are able to provide a warm welcome to the developers and the communities that they represent. On Twitter, OnePlanet said that all Ark*One partner projects as well as @polygonstudios will be moving together to reestablish the tokens ecosystem.

terra projects migrating to polygon

Several Terra projects have become homeless because Terra’s UST and LUNA have lost significant amount of money. OnePlanet asserts that there was an abrupt collapse of the ecosystem. It resulted in a large number of NFT projects being abandoned. It has taken the initiative to build its own ark in the tradition of Noah. As a result, it contributes to the preservation of Terra’s rich biodiversity.

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On Saturday, the CEO of the company said through email that there would be more developments with regard to the forty-eight projects. Additionally, he emphasized that attendance was open to anybody and everyone. The developers should provide an EVM-compatible chain to ensure that it is not necessary for you to rebuild it. It is imperative that developers keep EVM in mind everywhere they go in order to ensure its survival.

What Is Derby Stars?

Derby Stars is a AAA play-to-earn game with a focus on horse racing that is familiar to us. It shifts away from genuine plans to deploy on Terra and toward the Polygon Network in the process. A preliminary round of funding of $6 million was previously obtained for a game development project on Terra.

Ten thousand actual horse NFTs were gone in a matter of minutes after they were made available. In addition to this, it acquired notoriety for having visuals of the highest possible quality and for releasing a promo movie and a whitepaper.

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Derby Stars Receives Several Migration Requests From Terra Projects

Following the event that took place on Terra, the Derby Stars team received migration requests from more than 10 other blockchain foundations. After a successful migration, the blockchain industry believes that Derby Stars has the potential to become the next-generation pay-to-win game.

Polygon is a scaling protocol, and the Derby Stars team decided to use it in order to scale the Ethereum network. Recent statistics show that it has had more than 900 thousand weekly active wallets. Because Polygon has been running it for a long time without encountering any issues, the amount of the chain stable was also a significant component in the choice that Derby Stars made.

The chief executive officer of the firm said that it had been the market leader in Gaming on web3. Aside from that, the relocation of Derby Star is evidence of the dedication shown toward assisting the Terra community.

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In addition to this, they hope to develop a thriving gaming environment. In addition, the group would want to work out the logistics of moving the tokens over to Polygon. After the move is complete, Derby Stars will carry out their mission to hold a token creation event. The event will fuel the virtual economy.

Polygon Studio supports the Derby Stars. Polygon provides them with assistance in the areas of public relations, marketing, and technology. Their team’s goal is to become a participant in a comprehensive blockchain ecosystem.

In addition to that, they wish to collaborate on a number of other initiatives. Its decline has resulted in legal challenges and demands for more oversight. Wyatt sees it as very crucial that there was no loss of developers amid the chaos. Wyatt continued by saying that the developers would always be in their hearts. The fund provided attractive opportunities for skilled developers and assisted them in relocating to other locations.