ConsenSys-Backed Palm Blockchain to Host DC Comics NFT Drop

The legendary comics company has tapped the layer 2 network for the release that pays homage to its illustrious history.

Sep 29, 2021 at 1:01 p.m. UTC
Updated Sep 29, 2021 at 9:36 p.m. UTC

Andrew Thurman is a tech reporter at CoinDesk with a focus on DeFi.

Palm – a blockchain that is backed by blockchain technology company ConsenSys – scored a major win on Wednesday morning, announcing it will be home to a non-fungible token (NFT) drop from legendary comics publisher DC.

The NFTs will be “a thank you to its legion of loyal fans and an invitation to attend DC FanDome on Oct. 16,” a press release Palm shared with CoinDesk said, and conference attendees will be able to claim the NFTs for free.

Much like with the “Space Jam 2″ drop Palm hosted earlier in the year, collectors will also be able to claim a second NFT by sharing a social media link.

The release centers on five popular DC universe characters, including Batman, Superman, Green Lantern, Wonder Woman and Harley Quinn. Each NFT will be a comic cover featuring one of the characters from one of three different rarity tiers.

In a statement to CoinDesk, Straith Schreder, executive creative director for Palm NFT Studio, said this will be the first of many DC-flavored drops:

“This is a long term partnership with DC with the goal of exploring how NFTs can shape the future of community-driven storytelling; to look at how digital objects can unlock experiences, and provide fans with a true stake in an evolving and complex comic book universe. In partnership with DC, Palm NFT Studio developed a large-scale drop to reward FanDome registration with art and future utility; designing the NFTs and creating the site, strategy and infrastructure behind the collection.”

Business development

While it seems that new NFT marketplaces and minting platforms are emerging every week, the competition is stiff and it’s increasingly difficult to stand out.

NFT collectors have demonstrated a willingness to hop between platforms, currencies and even different blockchains in pursuit of digital goods. As a result, the battle between issuers is being fought over intellectual property and licensing – whoever can secure well-known brands can also secure traffic and sales.

A look at the forthcoming NFTs. (DC Comics)

Despite being a relative newcomer to the market, Palm is claiming big brands. In July, the chain announced the launch of Space Jam 2-branded NFTs built in collaboration with the native Nifties marketplace.

Additionally, the chain is home to legendary British artist Damien Hirst’s “The Currency” – a run of 10,000 NFTs that can be redeemed for physical paintings.

Palm has hit technical snags that have impeded its growth, however. Users frequently bemoan the clunky and slow cross-chain bridge to the Ethereum blockchain, and the chain doesn’t work with hardware wallets.

Additionally, competitor chain Flow announced plans for National Football League collectible highlights today – a successor to its popular Top Shot NBA highlight collectible series.

In this environment, if Palm wants to compete, it will have to continue signing major brands.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Andrew Thurman is a tech reporter at CoinDesk with a focus on DeFi.

Andrew Thurman is a tech reporter at CoinDesk with a focus on DeFi.

Trending

1
Shopify Expands Crypto Payment Options With Crypto.com Pact

Shopify merchants also have access to Jack Mallers' Strike, Coinbase Commerce and BitPay.

Shopify merchants also have access to Jack Mallers' Strike, Coinbase Commerce and BitPay.

2
Binance.US Hires Ex-Uber Compliance Lead Krishna Juvvadi as Head of Legal

The hire echoes the efforts in Binance.US's parent firm to bolster its legal and compliance team.

The hire echoes the efforts in Binance.US's parent firm to bolster its legal and compliance team.

3
NYDFS Chief Says Regulators Need to Develop a ‘21st Century Framework’ for Crypto

NYDFS Superintendent Adrienne Harris says the regulatory agency will triple the size of its virtual currency unit by the end of the year.

NYDFS Superintendent Adrienne Harris says the regulatory agency will triple the size of its virtual currency unit by the end of the year.

4
Tether Cut Commercial Paper Reserve by 17% in Q1, Accountants Say

The reduction has continued with a further 20% cut since April 1, which will be reflected in the Q2 report, the stablecoin issuer said.

The reduction has continued with a further 20% cut since April 1, which will be reflected in the Q2 report, the stablecoin issuer said.