Terra collapsed, and many projects and developers could not continue their functions. Let’s discover more about this important news for Polygon.
Polygon Supports Terra Projects with Migration Fund
OnePlanet is the first Terra-based project to receive Polygon’s funding. It is an NFT marketplace and launchpad in the Terra network. OnePlanet will migrate to Polygon in the coming months.
This NFT initiative has different utilities and an active community. Its team consists of individuals who used to work for Apple, Facebook, and more.
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Moving further, MATIC and OnePlanet want to create a haven for projects via the Polygon Network. The funding will lower migration and integration expenses across chains.
More About Polygon’s Integration
Polygon’s Studios CEO Ryan Wyatt shared his enthusiasm about this collaboration. He said: “Polygon is happy to provide a place for the OnePlanet team and the broader Terra ecosystem. Thanks to its robust marketplace, it will bring value to the Polygon NFT ecosystem. We will provide optimal support to aid the transition into Polygon Network. We will also provide resources to make Terra projects that transition stronger.
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SungMo Park, Head of Business at OnePlanet, also shared his thoughts. He said: “After Terra’s collapse, we recognize that our community needs a reliable home for their projects. Successful rebuilding on Polygon will benefit OnePlanet, as it already has excellent infrastructure. It is also EVM-compatible.
Park expressed gratitude towards Polygon’s chain for seeing the potential of Terra NFT projects. “We appreciate Polygon for recognizing the worth of the Terra NFT projects.’
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