Terra Virtua moves to Polygon blockchain, citing environmental concerns

Digital collectibles platform Terra Virtua has moved from the Ethereum blockchain to Polygon in an try to be greener.

In a Monday announcement, Terra Virtua mentioned it had switched to Polygon as a part of a plan to create a extra sustainable nonfungible token, or NFT, ecosystem. The platform claimed the transfer would scale back the vitality essential to create a single NFT by greater than 99%. Nonetheless, Terra Virtua can even remint all digital collectibles beforehand unsold on Ethereum within the transfer to Polygon.

“Our mission is to revolutionise how audiences have interaction with NFTs and make them accessible to everybody, however we imagine that the atmosphere shouldn’t must pay the value for this new game-changing know-how,” mentioned Terra Virtua co-founder and chief technical officer Jawad Ashraf. “By harnessing the ability of this new blockchain, we are able to make sure that our NFTs are limiting their affect.”

Based on Terra Virtua, the transfer is a part of an improve to take the platform out of beta testing. The undertaking mentioned it might even be forming licensing partnerships with world mental properties, in addition to including options.

On the time of publication, the platform is offline as a part of an announced “site-wide improve.” Customers have till Aug. 22 to buy Terra Virtua NFTs minted on Ethereum.

Associated: UN sees blockchain technology as tool to fight climate crisis

The digital collectibles platform has been steadily increasing since securing $2.5 million in a non-public funding spherical final November. Along with hiring expertise aimed toward taking the NFT market mainstream, the platform has additionally launched a series of high-profile digital collectibles to coincide with a significant film launch.