On Wednesday morning, the ConsenSys-backed Palm blockchain scored a major victory by announcing that the layer 2 chain will host a non-fungible token (NFT) drop from legendary comics publisher DC.
According to a press release shared with ULTCOIN365, the NFTs will be “a thank you to its legion of loyal fans and an invitation to attend DC FanDome on Oct. 16,” and conference attendees will be able to claim the NFTs for free.
Collectors will be able to claim a second NFT by sharing a social media link, similar to the “Space Jam 2′′ drop Palm hosted earlier this year.
The collection focuses on five popular DC characters: Batman, Superman, Green Lantern, Wonder Woman, and Harley Quinn. Each NFT will be a comic cover featuring one of three different rarity tiers of characters.
Palm executive creative director Straith Schreder told ULTCOIN365 that this will be the first of many DC-themed drops:
“This is a long-term partnership with DC with the goal of investigating how NFTs can shape the future of community-driven storytelling; to investigate how digital objects can unlock experiences and provide fans with a true stake in an evolving and complex comic book universe.” Palm NFT Studio collaborated with DC to create a large-scale drop to reward FanDome registration with art and future utility; designing the NFTs and developing the site, strategy, and infrastructure behind the collection.”
Growth of the company
New NFT marketplaces and minting platforms appear on a weekly basis, but competition is fierce and it is becoming increasingly difficult to stand out.
In their pursuit of digital goods, NFT collectors have demonstrated a willingness to jump between platforms, currencies, and even different blockchains. As a result, the battle between issuers is becoming increasingly focused on intellectual property and licensing – whoever can secure desirable or recognizable branding can also secure traffic and sales.
Despite being a relative newcomer to the market, Palm is making promising inroads. The chain announced the launch of Space Jam 2-branded NFTs in July, created in collaboration with the native Nifties marketplace.
In addition, the chain is home to The Currency, a run of 10,000 NFTs that can be redeemed for physical paintings by legendary British artist Damien Hirst.
However, Palm has encountered technical stumbling blocks that have hampered its growth. Users frequently complain about the clumsy and slow cross-chain bridge to Ethereum, and the chain is still unable to work with hardware wallets.
In addition, competitor chain Flow announced yesterday plans for National Football League collectible highlights, a follow-up to its wildly popular Top Shot NBA highlight collectible series.
In this environment, if Palm is to compete, it must continue to sign major brands.