The company financed by Microsoft, Palm NFT Studio, managed to raise a total of USD $ 27 million in this new round of financing B series.
The technology giant developer of software and technological equipment, Microsoft, recently participated in a funding round organized by a startup that operates with cryptocurrencies and non-fungible tokens (NFT).
Microsoft invest in startup of NFT’s
The company organizing the investment round was Palm NFT Studio, which was organizing a fundraiser Serie B which was led by Microsoft, this through your hedge fund company M12.
According to the team of Palm NFT Studio, the round in total managed to raise a total of USD $ 27 million, and said capital would be used to expand its work team as it expands its scope of services in the entertainment, arts, games and creative culture sectors. , all this based on a system of NFT through your own network Blockchain, named Palm.
In this regard, the co-founder and CEO of Palm NFT Studio, Dan Heyman, reiterated his commitment to the digital collectibles space, seeing it as an industry that will open space for great innovation in the years to come:
“Within three years, most of the NFTs will be distributed free of charge. We will see a shift from NFTs as exclusive collectibles towards massive community participation, and Palm NFT Studio is leading that evolution. We view programs that coin millions of NFTs with utility; social objects that connect communities, encourage participation and reward true fans. “
Other investors in the round include firms such as RRE, Third Kind Venture Capital, NFT Investor Sfermion and The LAO.
Microsoft and the industry Blockchain
While the participation of Microsoft In a financing round for a company within the crypto sector it may be something new, the truth is that the company already has time establishing links with the space of Blockchain and cryptocurrencies.
In August of this year, the company received approval from the United States Patent Office, USPTO, precisely by concept of a request that it introduced for the creation of a system that allows its users to develop applications Blockchain, this through facilities for the design of tokens that can operate in various networks since the process could well be “difficult and cumbersome”.
Also in August this year, the company was working on the development of anti-piracy measures using technology from Ethereum, for which he made use of an investigation jointly developed between Alibaba and Carnegie Mellon University.
As to Palm NFT Studio, the participation of Microsoft it could allow the company to have even more contact with the work that the startup does. In recent times, the company of NFT’s was launching several products and services, including a sidechain for digital collectibles based on Ethereum, the platform MLB NFT from Candy Digital, as well as the program The Matrix Resurrections from Nifty with Warner Bros Y NFTPro.
Version by Angel Di Matteo / Daily bitcoin
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