According to an announcement from Palm NFT Studio, Microsoft has led the startup’s Series B funding program with a cool $27Million.
Crypto startup firm, Palm NFT recently conducted a Series B funding event for their future expansions, in which many funds including, RRE, Third Kind, The LAO, Investor Sfermion and Microsoft’s venture fund M12 participated, with Microsoft alone contributing a massive $27Million in funds.
Future Expansion Projects
Palm NFT also released information about their future expansions, highlighting that the funds would contribute towards expanding the firm’s services in different media related fields that include, entertainment, fine art, gaming and other creative cultural traditions. The company also mentioned about the development of their tech platform, which assists users in the development and release of wide-ranging NFT drops to be available on the Palm Network.
Free NFTs
CEO of Palm NFT Studio, Dan Heyman stated that the firm has started to shift its focus and overall structure towards the development and expansion of the NFT world. Dan Heyman stated that in a couple of years, many NFTs will be available for free, and that the world will experience a major “shift away from NFTs as exclusive collectibles and Palm Studio will be leading” to that new advancement. Dan also mentioned that there will be many new programs working on the large-scale minting of NFTs.
Palm Studios Contributions
As they entered the market, Palm Studios has also been working on the development of many compliance spaces, as many agencies have started to give importance towards bringing regulations into the crypto world. Palm Studios have come up with a variety of projects since their launch back in February that include, the Palm Network, MLB NFT platform from Candy Digital, NFTPro and a couple others.
Growth of Startups in the Crypto World
This new funding event from Palm Studios has highlights yet another seed that has started growing on the Cryptocurrency space. According to statistical data released by PitchBook, investment firms have spent more than $21.4Billion in Cryptocurrency companies. Reports released in the past have mentioned that around 129 blockchain startup firms managed to compile around $2.6Billion in only the first quarter of this year, which was already a higher value in comparison to the complete amount gathered last year.
