Funding Details
Palm NFT Studio just hit the jackpot—$27 million to be exact! This Series B round of funding, primarily spearheaded by Microsoft’s venture fund M12, is looking to bolster not just their bank account, but their entire technological framework. With big hitters like Griffin Gaming Partners and Warner Bros. onboard, it’s clear that the studio is in good company.
What’s Forking Happening at Palm?
At its core, Palm NFT Studio aims to give creators the tools they need to launch NFT marketplaces. Co-founded by some serious heavyweights in the crypto world, including Ethereum co-founder Joseph Lubin, this startup isn’t just playing in the small leagues. Their ambition? To create a platform that lets users mint NFTs across various mediums—think movies, games, art, and music—all while staying friendly to regulators and the planet.
The Vision of the Future
According to Dan Heyman, the co-founder and CEO, we’re looking at a future where NFTs are as common as free samples at a grocery store. “Within three years, most NFTs will be given away for free,” he claims. It seems like the goal is to mint millions of these digital tokens that aren’t just collectibles but serve a purpose, engaging communities, and rewarding die-hard fans.
Sustainability in Mind
Palm NFT Studio isn’t just focusing on quantity; they’re also striding for sustainability. M12 praised the Palm Network for consuming considerably less energy compared to traditional proof-of-work chains used by many cryptocurrencies. They have even integrated a carbon tax into their bridge configuration, ensuring that every resource allocated from the mainnet is accounted for, and it stands to reason that they aren’t just in it for the money—or the environmental chaos.
Recent Collaborations
Since launching earlier this year, Palm NFT Studio has been quite the busy bee. Collaborations with DC Comics led to an impressive NFT collection featuring tokenized comic book covers—a true treat for collectors! They even partnered with renowned artist Damien Hirst for the much-talked-about ‘The Currency’ collection. It’s safe to say they’re putting the ‘art’ back in ‘smart contracts’!
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