A virtual world crypto project is significantly outperforming the digital asset markets just as it migrates to Ethereum (ETH) layer-2 Polygon (MATIC).
OrbCity (ORB) is a decentralized virtual world where users can explore and control their own cities using multiple tokens and NFTs (non-fungible tokens).
Districts in major cities like Zurich, Cape Town or Bangkok can be purchased on NFT marketplace Opensea. At time of writing, one OrbCity neighborhood in San Francisco was last sold for 15 ETH, about $24,000.
According to OrbCity, the project is partnered with many industry heavyweights, including Animoca Brands, OKX and Huobi.
Originally built on the Klaytn (KLAY) blockchain, a public network designed for the metaverse, gaming and the creator economy, OrbCity has now migrated to Polygon. According to the project, holders of ORB, OrbCity’s native token, have already been migrated to the Ethereum scaling solution.
Sandeep Nailwal, co-founder of Polygon, gave OrbCity a shout-out on Twitter to his 238,000 followers.
“OrbCity migrated to Polygon.
Welcome to the fam!
Polygon is inevitable!”
At time of writing, ORB is up 300% since the start of the year, and 100% in the past seven days as the markets react to the Polygon migration.
ORB has a market cap of $174 million and is currently trading for $0.18.