What's Hot

    Chinese tax authorities step up pressure on private crypto investors

    26.01.2023

    Tether will look for crypto transactions that pay for child pornography

    26.01.2023

    On-chain activity in the Optimism network collapsed after the end of the NFT bonus program

    26.01.2023
    Facebook Twitter Instagram
    Friday, January 27
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Other»Palm NFT Studio Raises $ 27M in Series B
    fc8f16f46168a03f21665160b904a994a5eff830
    Other

    Palm NFT Studio Raises $ 27M in Series B

    AdministratorBy Administrator10.12.2021No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 2 m


    Palm NFT Studio has announced the completion of a $ 27 million Series B funding round led by Microsoft’s M12 venture capital fund, which will help the company expand its technology for large NFT drops to more creators.

    The round also featured Warner Bros., Griffin Gaming Partners, RRE, Third Kind Venture Capital, Sfermion, LAO and SK Inc. The round follows Serie A from the HENI Group, which has not been officially announced, a spokesman confirmed.

    Palm NFT Studio, launched about eight months ago on a hired basis, describes itself as “a collective of industry leaders in technology, entertainment, crypto arts, and the arts.” Several people had a hand in launching the firm, including ConsenSys CEO and Ethereum co-founder Joseph Lubin and PegaSys co-founder Daniel Hayman, who is now co-founder and CEO of Palm NFT Studio. Film producer David Heyman and HENI Group founder Joe Hage also played a role.

    “For us, this is more than just money, we decided to partner with companies that are philosophically and strategically connected with us,” said Daniel Heyman. “We couldn’t have imagined a better Microsoft partner in that vein,” he said, citing Microsoft’s previous Ethereum-based projects, a clear vision of NFT and sustainability goals among the reasons it partnered with the tech giant.

    Palm NFT Studio has already hosted several high-profile releases, from collectibles to contemporary art. For example, Palm NFT Studio worked with British artist Damien Hirst to coin 10,000 NFTs based on original artwork for The Currency, which requires NFT owners to decide within a year whether they want to preserve the digital asset or burn it in exchange for a physical copy. He also released over 800,000 free NFTs with DC Comics for DC FanDome 2021.

    Palm NFT Studio handles these drops through an Ethereum sidechain it helped launch called Palm Network, which the company says is NFT-optimized and also has low gas charges and environmental impact. Further funding will allow him to provide this technology to third-party artists and brands who wish to use it for their own releases, in addition to those who work directly with the studio on projects.

    “I think every major company in the world is planning their NFT strategy right now,” Heyman said in an interview. In his opinion, most NFTs will be free or cheap in the next few years, as companies and creators begin to realize that they have many benefits beyond monetization.

    “I think this is just the tip of the iceberg,” Heyman said. “These are new ways of interacting, new ways of exploring, new ways of communicating and new ways to get fans involved in the creative process, to get involved.” For example, companies can send NFTs to their fans as birthday gifts or other rewards.

    Palm NFT Studio hopes to continue working with large companies, but also plans to focus on startups and individual developers. Hayman acknowledges that determining which projects are worth investing in can be a challenge for firms in this space. Palm NFT Studio explores ideas that can push the boundaries of NFT’s capabilities from all angles, whether from a technological or experience perspective.

    “We’re really looking at things that go beyond and move the experience and ecosystem forward.”



    #Palm #NFT #Studio #Raises #27M #Series

    27M NFT Palm Raises Series Studio
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    On-chain activity in the Optimism network collapsed after the end of the NFT bonus program

    26.01.2023

    User demands half a million dollars from OpenSea to block account

    26.01.2023

    Key cryptocurrency events for the day by January 26, 2023

    26.01.2023

    Former British chancellor Hammond to lead startup Copper

    26.01.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Chinese tax authorities step up pressure on private crypto investors
    • Tether will look for crypto transactions that pay for child pornography
    • On-chain activity in the Optimism network collapsed after the end of the NFT bonus program
    • Shiba Inu Network Transferred 3 Trillion SHIB Tokens Worth $38 Million
    • AI Calls Bitcoin a Tool to Destroy Central Banks
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.