The Non-fungible token (NFT) and crypto projects that were previously on Terra have started migrating to Ethereum Layer 2 protocol Polygon. As per Polygon Studios CEO Ryan Wyatt,” over 48 crypto and NFT projects have begun migrating from Terra to Polygon with some notable projects moving over including popular NFT marketplace OnePlanet and the metaverse game Derby Stars.” Wyatt announced the news through a tweet, welcoming the latest projects and adding, “it was awesome to help and welcome all these wonderful developers to our thriving ecosystem!”
The announcement was an update to his tweet on 16th May. He declared that Polygon was operating with different Terra projects to assist the swift migration to the Ethereum Layer 2 protocol. At the time, the CEO announced that Polygon would invest capital and resources into the movements to entertain the developers and their communities.
“We’re opening our arms to all who want to come over. A lesson learned in the Terra collapse is that it is very wise to be on an EVM-compatible chain so that you don’t have to rebuild, so I just hope that wherever developers go, they go with EVM in mind for longevity,” Wyatt declared.
One of the latest projects that migrated from the Terra ecosystem, OnePlanet, talked about migration through a blog post. The NFT marketplace announced that “the sudden collapse of the Terra ecosystem left a plethora of innovative NFT projects and their communities stranded in the wreckage.” OnePlanet reported that it had created its version of Noah’s Ark to protect Terra’s “burgeoning NFT diversity” and shift it to a new home.