Former non-fungible token (NFT) and crypto projects on Terra have begun to migrate to Ethereum’s Layer 2 Protocol Polygon. According to Polygon Studios CEO Ryan Wyatt, more than 48 crypto and NFT projects have begun to migrate from Terra to Polygon with some notable projects being transferred including the popular NFT marketplace OnePlanet and the game. play metaverse Derby Stars. Wyatt shared the news in a tweet, welcoming the new projects and adding, “it’s great to help and welcome all of these amazing developers to our thriving ecosystem. we!”
The information is an update to his May 16 tweet where he announced that Polygon is working with Terra the project helps with the rapid transition to the Ethereum Layer 2 protocol. At the time, the CEO said Polygon would invest capital and resources into the movements to welcome developers and their communities.
With over 48 projects on board, Polygon Still looking forward to offering more.
“We’re opening our arms to everyone who wants to come. One lesson learned from the Terra crash is that it’s very wise to use an EVM-compatible chain so you don’t have to rebuild, so so I just hope Wyatt says that wherever developers go, they always think of the EVM for longevity,” Wyatt said.
One of the new projects to migrate from the Terra ecosystem, OnePlanet, talked about migration in a blog post. The NFT Marketplace said “the sudden collapse of the Terra ecosystem has left many innovative NFT projects and their communities trapped in ruins.” OnePlanet notes that they created their version of Noah’s Ark to save Terra’s “growing NFT diversity” and move it to a new home.
Polygon and OnePlanet has been working with several NFT companies choosing to leave Terra through its initiative called ArkOne. However, as of June 15ArkOne has reduced the support it provides for ambitious projects, but the team says it will “still provide technical support to projects that want to move from Terra” and allow projects to launch on Polygon using its launcher.
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