Microsoft leads Palm NFT Studio’s US$27 million Series B financing

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Encrypted start Palm NFT Studio Announce On Thursday, the B round of financing was US$27 million, led by Microsoft Venture Fund M12. Palm NFT was co-founded by ConsenSys founder and Ethereum co-founder Joseph Lubin to provide creators with strategic and technical services to build a non-fungible token (NFT) market.

Other major backers include Griffin Gaming Partners, RRE, Third Kind Venture Capital, Sfermion, LAO, Warner Bros. and SK Inc.

According to the statement release On their company blog, this salary increase will enable the team to expand Palm NFT Studio’s technology platform and provide it to those who wish to deploy NFT projects in the fields of film, games, music, and art that comply with regulations and environmental sustainability Third party.

Dan Heyman, co-founder and CEO of Palm NFT Studio, believes that “in three years, most NFTs will be given away for free”, adding:

“The program we envision can forge millions of practical NFTs; social objects that connect the community, promote participation, and reward true fans. We are grateful for incredible partners like M12 to share this vision.”

Palm NFT Studio co-founded Palm Network, an Ethereum sidechain that allows users to build NFTs. According to the company, any NFT made on the Palm Network or Ethereum mainnet can be bridged from the Ethereum mainnet to the Palm Network sidechain, and vice versa.

As a new board member, M12 also Publish A statement welcomes Palm NFT to join their portfolio, noting its focus on sustainability:

“The company and third parties have conducted tests that show that Palm Network requires less calculations and subsequent energy to execute transactions than the proof-of-work chain. Palm Network also has built-in carbon taxes in its bridge configuration, which is mandatory when using main network resources. Payment.”

Since its launch earlier this year, Palm NFT Studio collaborates with DC Comics Released a collection of NFT tokenized comic book covers, and collaborated with Damien Hirst reduce Currency collection.