Palm NFT Studio

Palm NFT Studio Inc., founded in 2021 and headquartered in Dover, US, operates as a platform focused on improving NFT accessibility and integration. The company has undergone a strategic pivot towards merging with Candy Digital, Inc. as of June 29, 2023, which allows for an expanded digital experience for users. The company was formed by a group of industry professionals but specific founder details are not available.Palm Network operates as a Layer 2 network designed to enhance transaction speed and throughput while ensuring the security inherent to Ethereum. Their core offerings include a range of services that facilitate cross-chain transactions between Ethereum and the Palm Network through an automated bridge relay service. This solution aims to solve challenges associated with asset movement and integration by providing streamlined access for brands and creators in sectors such as fine art, sports, and entertainment. The platform supports over one million users and communities, emphasizing its broad appeal and usage among both individual creators and corporate entities.Revenue generation for Palm Network is facilitated through a transactional model that emphasizes cross-chain asset movement and integration services. Clients, including creators and brands, engage with the Palm Network by utilizing its bridge services to transfer assets, which may involve transaction fees based on the volume or value of the assets being moved. The company's offerings include partnerships with brands and creators, establishing strategic relationships that bolster their market presence.Palm NFT Studio Inc. is set to leverage its recent merger with Candy Digital, Inc. to enhance its product offerings and digital experiences. This merger aims to facilitate the development of bespoke digital collectibles, marketplaces, and loyalty programs. The expansion strategy involves targeting new markets for enhanced NFT integration by the end of 2024, focusing on sectors such as sports and entertainment.

1. Series B

   Dec 9, 2021

   Amount

   $27M

   Investors

   Locked