In the last few weeks, the market has experienced a huge migration of almost fifty terra projects, such as the NFT marketplace OnePlanet and metaverse game Derby Stars to Polygon.
Terra’s UST and LUNA have jointly burnt a lot of investors’ money. Thus, the network left many Terra projects homeless. According to OnePlanet, the ecosystem collapsed suddenly, and as a result, it left a plethora of NFT projects. It has led and made its version of Noah’s Ark.
Polygon CEO Welcomes Terra Projects
The CEO of Polygon Studios, Ryan Wyatt, said on Twitter Friday that they would put capital and resources against these migrations to help the migrators swiftly do the process. Thus, they can welcome developers and their respective communities.
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The CEO of Polygon Network wrote an email to the press on Saturday saying that there are more terra projects coming in the future. He also said that developers can come to the network and play around with the games. Developers must have an EVM-compatible chain ensuring longevity and minimizing the amount of work needed to recreate it.
Terra Projects That Migrated To Polygon
OnePlanet wrote on Twitter that all Ark*One partner projects and @polygonstudios move together to recreate the tokens ecosystem.
Derby Stars, a AAA play-to-earn game, also migrated to the Polygon network. It was previously deployed on Terra but has moved to the Polygon Network for its blockchain deployment.
Derby Stars is a horse racing game with a strong focus on earning in-game currency that can be used to buy horses, or upgrade your own horses. Players can also earn money by watching advertisements, as well as by playing the game itself.
Polygon Network’s Derby Stars project raised $6 million from investors earlier this year, and now it has secured new funding from the Polygon Network itself. In addition, it garnered popularity for its top-quality visuals and produced the teaser film and whitepaper.
The Derby Stars team has chosen Polygon as the protocol for scaling the Ethereum network. The protocol has more than 900,000 weekly active wallets and has been operating without any problems for a long time.
The CEO said that the choice of Polygon was based on its ability to scale the Ethereum network and its long track record of stability in this regard. The CEO further said that since the company has been the leader in gaming on the web3, they want to continue this trend. Besides, the migration of Derby Star illustrates the commitment of the team to helping Terra’s community.
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The company also wants to create an excellent gaming ecosystem through the migration of tokens from other networks such as EOS and BTC to Polygon. After the move is complete, Derby Stars will proceed with their duty as usual, which involves the token creation event that is utilised to fuel the virtual economy.
Derby Stars team is currently in the midst of a hard-fought battle. The project has been accused of violating securities laws and being in breach of fiduciary duty. In addition, it has also been accused of failing to properly disclose some of its operations to investors. The team at Derby Stars is working hard to address these allegations and hopes to continue operating as an upcoming blockchain gaming company.