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P2E Game, Derby Stars Plans Migration to Polygon Network After The Collapse of The Terra Ecosystem

P2E Game, Derby Stars Plans Migration to Polygon Network After The Collapse of The Terra Ecosystem

After weeks of deliberation, the horse racing game is finally moving to the Polygon blockchain, switching from prior plans to launch on the Terra ecosystem, in the wake of the latter blockchain’s collapse in May. 

Derby Stars, a blockchain-based Triple A play-to-earn horse racing game, is migrating to the Polygon network, backtracking on the earlier plans to launch on Terra ecosystem. According to a team statement, the decision to move to Polygon network followed weeks of deliberation, with the blockchain network winning over the community with its fast, cheap, and efficient GameFi ecosystem. 

Following the $60 billion Terra scandal, Derby Stars, which was one of the leading gaming projects preparing to launch on Terra, received proposals from more than 10 blockchain foundations to switch, with Polygon showing the most promise. The P2E game will partner with Polygon Studios to see the migration through and connect with the community to boost adoption rates. 

Speaking to on the planned migration to Polygon network, Ryan Wyatt, CEO of Polygon Studios, said:
"Polygon continues to be a leader in Gaming in web3. Derby Star's migration illustrates our commitment to helping the Terra community and furthers our mission to build a world class gaming ecosystem."

Wyatt believes the potential of Polygon’s scalable network and its highly engaged community of gamers — currently numbering 869k weekly active wallets — will provide a suitable alternative to Derby Stars. Notwithstanding, the chain’s stability also played a major role in Derby Stars’ decision, as Polygon has been operating without issues for many years.

Built as a horse-racing metaverse game, Derby Stars allows players to breed, grow, build, and trade their horse assets to win more races. The game is built by a team of game veterans with a goal to provide a high-quality player experience never seen before in an NFT game.

Before the Terra debacle, Derby Stars had raised a $6 million seed funding round led by top crypto VCs and angel investors including Patron, Galaxy Interactive, and Hashed. Its Origin Horse NFT collection, with 10,000 NFT assets, sold out in minutes across three rounds of public pre-sales and it was incubated by  UNOPND, a gaming-centric Web3 startup studio powered by Hashed. Since its beta launch, the game has gained global popularity for its high-quality graphics, recently released trailer video, and much-anticipated whitepaper release.

"We are very grateful for the partnership with Polygon, Sean Hahm, Lead Producer of Derby Stars said. “We hope that together we will find answers to some of the major challenges that the GameFi industry faces today, such as high transaction fees, limited NFT functionalities, and more importantly, the need for improvement in game quality and user experience.”

In the coming days, the Derby Stars team will coordinate and finalize the migration to Polygon, the statement further read. Soon after the migration, Derby Stars will proceed as planned with the token generation event to power the virtual economy, as well as the Alpha game launch that will provide utility to its NFTs.

Lastly, the partnership with Polygon Studios will help back the game and provide technical, PR and marketing support to the project. The game will also enter in the wider blockchain ecosystem and collaborate with other projects to help expand its reach to other communities. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice



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