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50 projects built on Terra have already started migrating to Polygon

Terra’s demise wiped out billions of dollars in value. It also caused dozens of projects to lose their homes.

Nearly 50 projects built on Terra, including OnePlanet and the metaverse game Derby Stars, have begun moving to Polygon.

“We will be investing capital and resources to welcome developers and their communities,” Polygon Studios CEO Ryan Wyatt tweeted on Friday.

In a tweet on Friday, OnePlanet wrote: “Thanks to all Ark*One and polygonstudios partner projects, we are all rebuilding and growing the NFT ecosystem together.”

Terra’s UST and LUNA fell into a death spiral a few months ago, destroying tens of billions of dollars in value. It also caused many projects to lose their homes.

OnePlanet posted on Medium: “The sudden collapse of the Terra ecosystem has left many innovative NFT projects and their communities trapped in ruins.”

“In search of light in the abyss, OnePlanet built its own version of Noah’s Ark and brought it to a new home.”

Beyond the first 48 projects, “many projects will continue,” Wyatt said.

He added: “We are opening our arms to everyone who wants to come. One lesson learned from the Terra crash is to use an EVM-compatible thread so you don’t have to rebuild, so I just hope that the developers keep the EVM in mind for longevity.”