The NFT platform Palm recently announced a $27 million Series B raise-led by Microsoft’s M12. This investment is surely helps Palm grow its technology. In addition, it enables Palm to release more NFT projects in the entertainment, fine arts and creative industries.
RRE, The LAO, SK Inc, Warner Bros, Griffin Gaming Partners, Third Kind Venture Capital, and Sfermion are the other major sponsors.
The NFT platform is a collection of technology, entertainment, crypto art and industry leaders. This is the result of a collaboration between ConsenSys establisher and co-founder Atrium Joseph Lubin. David Hyman (film producer and owner of Heyday); Joe Hedge (co-founder of HENI) and Daniel Heiman (co-founder of PegSys).
Palm has previously backed major projects like The Currency by Damien Hirst, DC FanDome 2021 by DC Comic, Space Jam 2 and Pace Verso. Just as essential initiative is the NFT Platform’s Palm Network, an NFT-optimized ETH lateral chain focusing on culture and creativity.
The Palm network is special in that it provides low gas costs, fast transactions and a decreased energy in consumption. While it exist as a sidechain, all NFTs built on the ETH and can be returned to the Palm network.