Palm NFT Studio

Palm NFT Studio is a technology company focused on creating, trading, and managing non-fungible tokens (NFTs) more efficiently. Founded in 2021, the company operates the Palm network, an Ethereum sidechain designed to serve as the foundation for a scalable and sustainable NFT ecosystem. The Palm network utilizes the IBFT-2 consensus mechanism, a rotating proof-of-authority method, and is fully EVM-compatible, allowing developers to deploy Solidity smart contracts. Palm NFT Studio has developed a generative art tool called "Palm Generative Art Maker," which enables creators to design generative assets, including 3D and motion graphics, without advanced coding skills. The tool is available as a plug-in for Epic Games' Unreal Engine.

The company collaborates with leading artists, creatives, IP owners, and entertainment companies to redefine fan engagement through NFTs. Palm NFT Studio has worked on several high-profile projects, including launching Pace Gallery's metaverse platform Pace Verso, and delivering NFT experiences for Universal Music Group, Warner Bros., and DC Comics. In March 2022, Palm NFT Studio assisted in launching a 200,000-piece Batman cowl NFT collection for DC, drawing influence from 83 years of Batman's history. As of December 2021, more than three million NFTs had been minted on the Palm network.

Key customers and partnerships

Palm NFT Studio has established partnerships with several prominent organizations in the blockchain and entertainment industries. The company collaborated with Damien Hirst and HENI to build "The Currency" NFT collection. Palm NFT Studio has also worked with DC Comics to create the brand's primary and secondary NFT marketplace. In April 2022, the company partnered with Hyperledger Foundation to publish a report on the carbon footprint of NFTs, emphasizing their commitment to sustainability in blockchain technology.

The company has formed a strategic collaboration with Chainlink Labs to improve and simplify how enterprises issue NFTs across blockchains. This partnership aims to establish an efficient multi-chain NFT abstraction layer for enterprises to monitor, track, and manage NFTs. Palm NFT Studio has integrated several Chainlink oracle services, including Price Feeds, Verifiable Random Function (VRF), and the Cross-Chain Interoperability Protocol (CCIP).

In June 2023, Palm NFT Studio merged with Candy Digital, another leading licensed digital collectible provider. The combined entity operates under the Candy Digital name, with Palm NFT Studio's co-founder and CEO Daniel Heyman serving as president of the merged company. This merger aims to expand licensed NFT projects across sports, entertainment, art, and culture, leveraging partnerships with major brands such as Major League Baseball, NASCAR, WWE, Netflix, and Warner Bros Discovery.