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

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.

DISCLOSURE

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