When NFT (non-fungible token) became the craze of the crypto community, many creators and users wanted to mine the token. However, the cost is quite expensive if using Ethereum.
Following that, Ethereum solutions provider, ConsenSys has teamed up with HENI Group and Heyday Films to introduce Palm NFT Studio. The concept focuses on collaborating with artists, marketplaces and copyright owners to bring projects and platforms into NFT’s new ecosystem.
Not disclosing Palm’s launch date, ConsenSys in its announcement told Uniswap V3 which will be launched in May will appear to support the trading of digital art assets in the Palm ecosystem.
Palm will exist as a fully interoperable Ethereum sidechain with the main Ethereum network with the goal of transitioning to a Layer 2 solution for faster transactions. It will also be available as an optional network in a crypto wallet, MetaMask.
To date, Palm NFT Studio has agreed to enter into a partner relationship with MEME, Nifty’s, Protocol Labs and Infura. The list of partners is expected to grow once it is officially launched.
It is rumored that the first collection to appear at Palm is "The Currency Project" by British artist Damien Hirst which consists of 10,000 works on paper as NFT.
