Portion Partners with Palm to Drastically Reduce the Cost and Environmental Footprint of Minting NFTs.
The decisions we make at this pivotal stage of the emerging NFT era will define the industry and culture for decades to come. While much of the NFT sector has focused on short-term goals, the Portion team has been quietly orchestrating a monumental undertaking that we feel will elevate the game for digital assets and usher in broader adoption for a new wave of creators and collectors.
Today, Portion is proud to announce a partnership with Palm NFT Studio: giving artists the opportunity to mint and sell their work, sustainably. Palm is a new token-powered ecosystem for NFTs, which is connected to Ethereum, and features drastically reduced gas costs, fast transactions, and 99.99% more energy efficiency than Proof of Work systems. By integrating Palm’s scalable infrastructure, Portion will abstract away many of the complexities and costs for creators and collectors, all while preserving decentralization and the technical integrity of distributed protocols. We are beyond excited to support Palm’s energy efficient NFT ecosystem alongside ConsenSys, Uniswap, $MEME, Nifty’s, Protocol Labs, MetaMask, and Infura.
“Our mission to build a sustainable NFT ecosystem can only come to life when as many people as possible have access to the benefits of blockchain,” said Palm Co-Founder Dan Heyman. “It’s our hope that this partnership will empower a new wave of artists to pursue their creative dreams in ways that are scalable, equitable, and sustainable."
Empowering the New Creative Economy with Scalable and Sustainable Blockchain Technology
→ Built for Scale
Palm is built on mature Enterprise Ethereum technology from ConsenSys, the same Ethereum tech the world’s leading financial institutions rely on to run their production blockchain platforms.
→ Built for Sustainability
Palm is a token-powered ecosystem optimized for NFTs that operates as a side-chain on Ethereum. Palm uses a consensus mechanism called IBFT-2, a rotating Proof-of-Authority consensus method, in lieu of Proof-of-Work. This grants them the ability to offer affordable transactions for users while also maintaining an almost 0% carbon footprint.
→ Built for Imagination
NFTs, marketplaces, and experiences built on Palm have limitless creative potential. Artist royalties, interactive storytelling, programmable art, games that give back to fans, social impact campaigns that transform culture.
Portion’s partnership with Palm is another stroke in a comprehensive reimagination of the Portion platform — from tokenomics to drops to user experience. As the first open NFT platform to offer support for both Ethereum and Palm networks, we will lower the barriers to entry for creators, while continuing to offer them up to 100% of the proceeds from the sales of their work. And the more brilliant creators that are able to access this ecosystem, the better off we all are.
Coming very soon, artists and creators will be able to mint and sell NFTs on Portion using Palm. Stay tuned for updates and instructions on how to get started.
We remain deeply grateful for your continued belief in the Portion mission of creating value with digital assets in new and exciting ways, and delivering on the potential of NFTs on a foundational scale.