Skip to main content

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.

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more