December 10, NFT StudioPalmCompleted $27 million in financing, led by Microsoft’s M12, with participation from Griffin Gaming Partners, RRE, Third Kind Venture Capital, Sfermion, The LAO, and Warner Brothers. The new financing will be mainly used to expand the company's operating scale.

M12 Managing Director Matt Goldstein is acceptingCoinDesk interviewShi said that M12 is looking for projects that provide blockchain services for enterprises, especially the early 2B business; M12 values ​​Palm's media brand, art brand, and content brand, and believes that these resources will support Microsoft.(Note: M12 is not frequently sold in the encryption field. Previous classic cases include participating in Bakkt’s $300 million B round of financing.)

According to the official website,By supporting creators, artists, marketplaces and copyright holders, companies and brands, Palm helps these partners create Ethereum-based NFTs and bring them into a scalable and sustainable Palm NFT culture and creative ecosystem system.

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Token related situation

As the token of Palm Network, PALM can be used to pay for gas and governance (the governance function will be launched at the end of this year).

PALM is not listed on any trading platform, but is distributed free of charge to users, creators and partners who bring activities and value to the PALM Network. Specific reward channels include:

• development documentationdevelopment documentationAccording to the guidelines in the test network and the main network, a small amount of PALM has been applied;

• Bought on the Palmsome itemsNFT users can receive PALM in their wallets;

• Users who transfer DAI and wETH from the Ethereum main network to Palm can receive PALM in their wallets (Click here to view the specific assets and bridges）；

• via Palm Networkfiat onrampUsers who purchase DAI can receive PALM in their wallets;

• The development team conducts business on the Palm Network and provides a lot of traffic and can participatePalm Network Partner Incentive Program；

• Creators and artists can contribute toPalm Network Creators GroupApply to PALM to support its creative work.
  

*The wallet balance of users who receive PALM from the above channels needs to be lower than the recharge threshold, and there is an upper limit on the total amount of PALM delivered by any distribution channel.

Palm's team and partners

The founders of Palm NFT Studio include: Joseph Lubin, founder of ConsenSys and Ethereum co-creator, David Heyman, film producer and owner of Heyday Films, and Joe Hage, founder of art technology group HENI Group. The studio CEO is former ConsenSys general manager Dan Heyman.Although the current NFT market places too much emphasis on rarity and exclusivity, Dan Heyman believes that the value of NFT is to build a community for brands among its audience, "In three years, most of NFT will be given away for free, and we will see NFT from Exclusive collectibles turn to a lot of community engagement, and Palm will drive that change."

When Palm was first established, it launched Damien Hirst's "The Currency with Heni", as well as a digital art project jointly signed by the Major League Baseball and Candy Digital.

On August 29, Palm entered into a strategic partnership with Portion, an online marketplace for art and collectibles, to give artists the opportunity to create and sell their work in a sustainable manner.

On September 29th, Palm cooperated with DC, a comic company with IPs such as Batman and Superman, and created the first DC official NFT series on October 5th. The material of this series of NFTs was selected by Jim Lee, the publisher and chief creative officer of DC, and distributed to comic fans who signed up to participate in the DC FanDome held on October 16. Users who successfully signed up to receive NFTs can share it on social media Get another NFT. The NFT released this time will include superhero characters such as Batman, Superman, Green Lantern, Wonder Woman and Harley Quinn (Harley Quinn), and the NFT series of each character will contain different rarities.

On November 4th, Palm reached a cooperation with Lithium Finance, a private asset data oracle agreement, and the two parties will jointly provide pricing for rare NFT.

As of now, Palm also has a Space Jam: The New Legend Space Jam 2 NFT collection.