Microsoft Invests In Palm NFT Studio Startup

Crypto startup Palm NFT Studio said Thursday that it has raised $27 mln in an early round of funding led by Microsoft's M12 venture capital fund with venture capital firm Griffin Gaming Partners.

Palm NFT, co-founded by Joseph LUBIN, offers artists a service to create NFT marketplaces. Lubin was also one of the co-founders of Ethereum, the world's most popular cryptocurrency after Bitcoin. Other investors included investment firms RRE, Third Kind Venture Capital, NFT investor Sfermion, and The LAO.

Palm NFT Studio CEO Dan HEYMAN told Reuters in an interview that the company intends to use the capital to scale its platform by investing in research and development and recruiting new talent.

Image: ConsenSys