AA NewsCrypto NewsEthereumNon-Fungible Token (NFT)

ConsenSys to Launch Scalable Ethereum NFT Platform Palm

As NFTs grow in popularity, more creators and users want to mint them which can be costly if using Ethereum. Creating ERC-20 fungibles or ERC-721 non-fungibles uses gas, and as everyone is painfully aware gas is expensive at the moment.
Addressing this, ConsenSys has announced Palm which promises 99% efficiency over current proof-of-work networks.

We’ve only just begun scratching the surface of what NFTs mean for creators.
We are proud to parter with @HENIGroup and @Heydayfilms on @PalmNft, a new #NFT ecosystem and studio for creators and artists. https://t.co/Wv5KBgs39S https://t.co/tX2R6s8YbN
— ConsenSys (@Consensys) March 30, 2021
Palming into The NFT Scene
According to the March 30 announcement, the Ethereum solutions provider has teamed up with the HENI Group, and Heyday Films, to introduce the Palm NFT Studio. The concept involves an innovation lab set up to collaborate with artists, marketplaces, and rights holders to bring projects and platforms into the new NFT ecosystem.
When launched in May, a version of the Uniswap v3 protocol will be deployed to support the trading of digital art assets within the Palm ecosystem, it added. There was no mention of a launch date for Palm.
Palm will exist as an Ethereum sidechain that is fully interoperable with the main Ethereum network but the project intends to transition to Layer 2 solutions for even faster transactions. It will also be available as a network selection in the popular MetaMask crypto wallet.
Palm NFT Studio has also joined up with …
Story continues on Crypto Potato

Related posts
0.1 BTCBitcoinBitcoin (BTC)Bitcoin derivativesBitcoin.comBTCcboeCMECME bitcoin futuresCME futuresCME GroupETHETH contractsetherEthereumMicro BitcoinMicro BTCNewsOne-TenthTim McCourt

One-Tenth of a Bitcoin: Derivatives Giant CME Group to Launch Micro BTC Futures Contract

The American global markets company Chicago Mercantile Exchange (CME Group) has announced the launch of a new bitcoin futures product on May 3, 2021, if U.S. regulators approve the product. The new contract is a micro bitcoin futures product that…
BitcoinBusinessEthereumjay claytonone river

Jay Clayton Joins Bitcoin-Rich Asset Management Firm

Former SEC chair Jay Clayton has joined the advisory council of One River Digital Asset Management, a digital asset investment firm. Clayton Now Advisor at Crypto Company Jay Clayton, who served as chair of the U.S. Securities and Exchange Commission…
AA NewsCrypto NewsRegulationsSocialstablecoins

British Finance Minister Calls For Stablecoin Regulation

Speaking at a City and Financial Conference today, John Glen said authorities need to regulate stablecoins due to the threat it poses should a major firm dominate the sector.  “There is the potential for some firms to swiftly achieve dominance…