M12 adds early-stage Palm NFT Studio to its portfolio with participation from venture firm Griffin Gaming Partners.
Crypto startup Palm NFT Studio announced a Series B raise of $27 million on Thursday led by Microsoft’s venture fund M12. Palm NFT, cofounded by ConsenSys founder and Ethereum co-founder Joseph Lubin, provides strategic and technical services for creators to build nonfungible token (NFT) marketplaces. Other major backers include Griffin Gaming Partners, RRE, Third Kind Venture Capital, Sfermion, the LAO, Warner Bros. and SK Inc.According to the statement issued on their company blog, the raise will enable the team to scale the Palm NFT Studio’s technology platform and offer it to third parties looking to deploy NFT projects across movies, games, music and art with regulatory compliance and environmental sustainability. Dan Heyman, cofounder and CEO of Palm NFT Studio, believes that “within three years,
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