Terra Projects Flee to Polygon Following the UST-LUNA Collapse

Terra’s destruction left behind a plethora NFT projects, developers, and their ecosystems. Nearly 50 crypto projects and the coders who were based on that network lost their homes two months later have found new homes in Polygon.

These projects include P2E metaverse and Lunaverse. The projects include P2E metaverse, Lunaverse, the A.I., and Terra’s more popular PFP collections like Hellcats or Babybulls. Ryan Wyatt, CEO of Polygon Studios, confirmed the numbers in a tweet. Wyatt stated that the projects have allied to move into the Polygon network.

“It was amazing to welcome all these talented developers into our vibrant ecosystem!” Welcome!”

There were several competing blockchains that tried to attract developers whose work was threatened by Terra’s implosion. Wyatt also stated that Polygon would be financing the fund using the $450 million raised by Sequoia Capital India. OnePlanet, a Terra-based NFT platform, was the first to receive funding from Polygon. The team of 30 people has now moved to the blockchain. OnePlanet, which was comprised of around 30 people, also helped other NFT project’s migrate via an initiative called ArkOne.
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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