Microsoft Leads $ 27 Million Series B Funding Round for Startup Farm NFT Studio

Crypto startup Palm NFT Studio announced Thursday that it has completed a $ 27 million Series B funding led by venture capital Microsoft M12. Palm NFT has partnered with Joseph Lubin, Founder of ConsenSys and Co-Founder of Ethereum, to provide developers with quality services and resources to help them establish a market for Non-Fungible Tokens (NFTs).

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

According to a statement on the company's blog, these grants will support Palm NFT Studio technology and distribute NFT operations in movies, games, music and art to provide management control and a secure environment for third parties. . to help.

Dan Heyman, founder and CEO of Palm NFT Studio, estimates that "within three years most NFTs will be free."

“The mission we want to see is to make millions of NFTs succeed. Organizations are working together to connect communities, promote engagement and reward true fans. We thank the participants. Hands like U12s who are willing to share this point. of view. Thank you. "

Palm NFT studio has developed Palm Network, an Ethereum side chain that allows users to create NFTs. Depending on the company, an NFT built on the Farm Network or Ethereum network can be connected from the main Ethereum network to the Farm Network side chain and beyond.

A new member, M12, also announced a Palm NFT welcome letter for the case and reported security concerns.

“Companies and third parties have experimented and found that Palm Network needs less computing power and later power to become more commercial products than the PoW chain. The Palm Network also has a carbon tax on the bridge put up when using capital. In. You have to pay. "

Since its inception earlier this year, Palm NFT Studio has partnered with DC Comics to release the NFT series of symbolized comic book covers, and has partnered with Damien Hirst to announce the "Benefits" series.