Palm NFT Studio has unveiled a Series B funding round of $27 Million led by M12, Microsoft’s venture fund.
The fund is geared towards scaling the startup’s team across its operations in fine art, gaming, and entertainment.
The Co-founder of Palm NFT Studio, Dan Heyman, says that non-fungible tokens would soon go mainstream away from being exclusive collectibles.
Heyman welcomes the partnerships, saying that the vision remains that of creating programs that mint tons of valuable NFTs.
Palm NFT Studio has unveiled exclusive NFTs since it was introduced eight months ago, including Damien Hirst’s, The currency, which garnered a market capitalization of more than $600 M in less than 60 days.
Griffin Gaming Partners, Third Kind Venture Capital, RRE, the LAO, SK, Warner Bros are some of the other participants in the round. Palm NFT enhances the deployment of NFT drops on its network.
Source: Business Wire