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New NFT platform should secure Ethereums first place



With the successful NBA top shot series, the flow blockchain is currently dominating the NFT sector. With Palm, ConsenSys throws an Ethereum-compatible competing product onto the market that could redistribute the cards.

You can argue about sense or nonsense, but the fact is: The flow blockchain from Dapper Labs has blossomed into the top of the NFT transshipment centers thanks to the success of the NBA top shot collectibles. Over 470 million US dollars have now flowed into the digital trading cards . The CryptoPunks series based on Ethereum followed a long way off. In the battle for pole position, the blockchain company ConsenSys is now throwing a competing product on the market that is intended to secure the supremacy of Ethereum blockchain in the new boom sector.

Palm, the Ethereum answer to Flow


On March 30 ConsenSys gave art service HENI Group and the film production company Heyday Films set up a joint "innovation laboratory" known . The Palm NFT Studio will in future be an interface through which artists, marketplaces and rights holders can work together and integrate corresponding projects and platforms in the Palm ecosystem. Dan Heyman, previously General Manager of Protocols at ConsenSys, will chair the Palm NFT Studio as CEO.

In addition, there are already a number of other partnerships that are intended to embed Palm in the crypto ecosystem. The decentralized exchange Uniswap will “use a version of the Uniswap v3 protocol to support the trade in works of art within the Palm ecosystem”. Palm is also to be connected to the NFT marketplaces Nifty's and Eulerbeats. For this, the palm sidechain is connected to the Ethereum wallet MetaMask.

The innovation laboratory could thus develop as the nucleus of new NFT projects. The alliance with established companies from the entertainment and art industries should also open the still unmanageable NFT market to the mainstream. As a pilot project, Damien Hirst will bring his series “The Currency Project”, consisting of 10,000 individual banknotes, on which the artist has worked for five years, to the platform as an NFT series.

It remains to be seen whether this can build on the success of the Beeple series . But the new project didn't catch a small fish with Hirst. Hirst's pictures and sculptures (see article picture) are among the most valuable in contemporary art. In 2007 his work “Lullaby Spring” achieved the record sum of 14.5 million euros at Sotheby's. The price was the highest ever paid for a work by a living artist. In any case, he puts big pieces in Palm, which is "by far the best platform". As the richest artist ever with a private fortune of one billion US dollars, he probably doesn't need the sale.

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