December 3, 2022

Exploring the Palm Network – What is Palm NFT Studio?

Table of Contents

Palm NFT Studio is all about creating, trading, and managing NFTs more efficiently. Furthermore, Palm Studio has some big players from the art and entertainment industries backing their efforts, and they are working with some of the leading names and companies in the blockchain industry. That said, it’s safe to say that Palm NFT Studio is poised to contribute seriously to the mainstream adoption of NFTs.

In today’s article, we explain what Palm NFT Studio is and what it does. Along the way, we quickly cover what the Palm blockchain is. Furthermore, you’ll also discover if you can get a Palm Studio NFT, and we’ll take a closer look at Palm NFT Studio collaborations and partners. Last but not least, you’ll learn how to use Palm Studio’s blockchain with Moralis and create all sorts of NFT dapps the easy way. After all, among other excellent shortcuts, Moralis offers the ultimate NFT API. With this API, developers can create NFT-related projects quickly, and tasks such as if a developer must get all NFT owned across blockchain networks become an effortless process. With that said, if you prefer to learn as you build, create your free Moralis account and start “BUIDLing”.

square palm leaf and the title palm nft studio

What is Palm NFT Studio?

At its core, Palm NFT Studio is a technology company aiming to redefine fan engagement via NFTs. To achieve this ambitious goal, the company partners with leading artists, creatives, IP owners, and entertainment companies (more on Palm Studio NFT partners below). The CEO of Palm NFT Studio is Dan Heyman, former general manager of protocols at ConsenSys. Moreover, Palm’s founding team includes several established figures:

  • Joseph Lubin – ConsenSys founder and Ethereum Co-Founder
  • David Heyman – Film producer and owner of Heyday Films 
  • Joe Hage – Founder of the world-class art house HENI Group

Odds are you’ve heard of the NFT collection “The Currency“. This collection was built by Palm NFT Studio in collaboration with Damien Hirst and HENI. Moreover, this NFT-focused company also launched Pace Gallery’s metaverse platform called Pace Verso. Palm has also delivered innovative NFT experiences for Universal Music Group, Warner Bros., and DC.  

dc and palm nft studio collaboration announcement

What Does Palm Studio Do?

In the previous section, you learned that Palm NFT Studio is an NFT-focused company. You found out that they’ve already collaborated with some large brands. So, when it comes to their collaborations with those brands, Palm Studio covered the technical components of helping these brands incorporate NFTs in some way. For instance, for DC, Palm built the brand’s primary and secondary marketplace. 

However, aside from working with specific enterprises, Palm NFT Studio devotes its resources to building a public NFT infrastructure. This is where the Palm blockchain enters the scene. The latter is an Ethereum sidechain. The main purpose of this sidechain is to serve as the foundation of a scalable and sustainable ecosystem for NFTs. While layer-2 (L2) blockchains inherit the security of the main blockchain, sidechains rely on their own security. Consequently, Palm has its special consensus method. The latter is known as the IBFT-2 consensus mechanism, which is a rotating proof-of-authority (PoA) method. It’s also worth noting that key stakeholders also run the Palm network validators as proof-of-stake (PoS) consensus mechanisms do. 

graph illustrating ethereum and palm studio blockchains

Also, remember that Ethereum and Palm are connected by a bridge that facilitates the movement of tokens. Aside from this token bridge, the Palm chain is fully EVM-compatible. This means it supports the same development tools as the leading programmable blockchain. Accordingly, devs can also deploy Solidity smart contracts on Palm. 

With that said, it’s obvious that one of the core focuses of Palm NFT Studio is to ensure the Palm network’s smooth operation and growth. After all, Palm’s roadmap includes a transition to an Ethereum L2 chain. However, the Palm NFT Studio’s long-term vision is to make Palm the leading cross-chain NFT ecosystem.  

people staring at an nft artwork piece

Can You Get a Palm Studio NFT?

You must distinguish between NFT development platforms/projects and NFT collections. Even though Palm NFT Studio is quite unique, given that it also focuses on developing a blockchain, it is definitely more like an NFT development platform. As such, it helps other enterprises develop NFT projects and platforms, but it doesn’t have its own official NFTs. However, many people refer to an NFT minted on the Palm blockchain as a Palm Studio NFT. But keep in mind that aside from the Palm NFT Studio’s involvement in supporting the Palm chain, the company typically has nothing to do with NFTs on the Palm blockchain. After all, the owners of these NFTs are the owners of smart contracts used to mint them or wallets that have gained ownership over them via on-chain transactions. 

So, can you get a Palm Studio NFT? A technically correct answer would be “no”. But if you wish to get NFTs “alive” on the Palm chain, you can do so. Considering that devs have collectively already minted more than three million NFTs on that network, you have many options. Of course, you’ll need to create your Palm wallet address first. Then, you’ll be able to receive/purchase Palm-based NFTs.

On the other hand, you can also mint your own NFTs on Palm. After all, you can use the same tools as you’d to mint Ethereum NFTs. In that case, you’ll also want to add Palm to your MetaMask wallet. To help you do that, follow the detailed instructions in the Palm documentation. Essentially, you just need to click on the “Add network” button and then select “Palm”. 

module showing how to add the palm network in the metamask wallet

The App – Configure Wallet, Buy Tokens, and Use the Bridge

If you want to interact with the Palm network, you can use the Palm application, which can also help you add this network to your MetaMask:

palm nft studio application interface

Furthermore, the Palm app lets you buy DAI (stablecoins) using your credit/debit card. In addition, it is the place to access the Palm bridge for both fungible tokens, such as PALM, DAI, and ETH and NFTs:

showing the website of palm and the token bridge and nft bridge buttons

Note: If you are interested in learning more about the PALM token and transferring DAI from Ethereum to Palm, make sure to visit Palm’s docs and Palm’s official website. On the latter, you can find a neat “FAQ” page answering all of the most common questions.

Collaborations and Partners

At this point, you already know that Palm NFT Studio is led by a well-known figure in crypto. Now, before we look at this NFT-focused company’s main collaborations and partners, it’s also worth noting that it has some impressive investors. Among others, these include Microsoft’s venture fund M12, Warner Bros., SK Inc., Griffin Gaming Partners, Third Kind Venture Capital, the LAO, RRE, and Sfermion.  

As far as the Palm NFT Studio partner list goes in November 2022, you can see them outlined below:

  • ConsenSys
  • HENI
  • Heyday Films
  • MetaMask
  • EulerBeats
  • Protocol Labs
  • Nifty’s
  • Treum
  • ChainSafe
  • Wyre
  • Blockscout
  • Patch
  • Meme
  • Covalent
  • ioBuilders
  • Decrypt Studios
  • Bandwagon

Although Palm NFT Studio has some impressive collaborations with Universal Music Group, Warner Bros., DC, and other large brands, from a technical perspective, its collaboration with Chainlink deserves some extra attention.

palm and chainlink collaboration banner

After all, judging by the information on Palm’s blog, this collaboration could potentially enable Palm to become the leading cross-chain NFT ecosystem. By actively collaborating with Chainlink Labs, Palm NFT Studio aims to improve and simplify how enterprises issue NFTs across blockchains. As such, Chainlink Labs will be supporting the further development and growth of the Palm network. Accordingly, this collaboration seems to be the key to establishing an efficient multi-chain NFT abstraction layer that enterprises will use to monitor, track, and manage NFTs.

In case you don’t know, Chainlink Labs is the development team involved in building Chainlink. The latter is the most widely adopted open-source and decentralized oracle network. What’s more, the Palm network is integrating several Chainlink oracle services. These services include Chainlink Price Feeds for exchange rates, Chainlink VRF for a verifiable random number generator (RNG), and Chanlink’s Cross-Chain Interoperability Protocol (CCIP) for cross-chain functionalities.   

How to Use Palm NFT Studio with Moralis

Unless you’ve been living under a rock, you know that Moralis is the leading enterprise-grade Web3 API provider. This means devs can build decentralized applications without reinventing the wheel. After all, in many cases, most Web3 functionalities can be added by simply copy-pasting short snippets of code from the Moralis docs.  

Moralis is also all about cross-chain interoperability. As such, it supports all leading EVM-compatible blockchains, including the Palm network. This means you can use Moralis’ APIs to create dapps (decentralized applications) that focus on Palm and any of the supported chains, as seen in the following image:

outlining supported networks from moralis, including ethereum, binance, polygon, solana, and palm nft studio network

This leading Web3 API provider is also fully cross-platform interoperable. Hence, you can build dapps on Palm and other supported chains using legacy dev tools. This makes Moralis known for bridging the development gap between Web2 and Web3. Also, one of Moralis’ great assets is its clear and interactive documentation. The latter includes tutorials, enabling complete Web3 beginners to create dapps. In addition, the Moralis documentation is also the best place to learn how to properly use Moralis’ Web3 APIs. Accordingly, it is the place to visit if you’re interested in putting your knowledge about the Palm network to use by building NFT dapps. So, make sure to create your free Moralis account and start building. 

unlock the power of blockchain with moralis

Docs and Other Shortcuts to Building NFT Dapps on the Palm Network 

You can use all of Moralis’ API endpoints for a spin by using the API reference doc pages. For instance, you can visit the get NFTs by wallet documentation page:  

documentation page to get nfts by wallet

Looking at the screenshot above, you can see the gist of these interactive pages. Essentially, you just need to paste in the required parameters. However, you can also use the optional parameters. This is where you get to select the Palm chain. By doing so, you get to query this NFT-focused blockchain. In addition, every API reference page enables you to select the programming language you prefer to work with on the top-right side. 

With Moralis’ Web3 APIs, you can, as many other projects have, reduce your project’s time-to-market by an average of 87%. Aside from time reduction, these tools also save you a ton of capital in engineering costs. Moreover, most of Moralis’ shortcuts come from various Web3 boilerplates that await you at GitHub. A great example is our template that lets you build an NFT-gated dapp effortlessly. Of course, understanding how to get all NFTs owned by an address is of utmost importance when tackling projects of that kind. 

However, a universal boilerplate on GitHub is our Ethereum boilerplate. Here, make sure not to let “Ethereum” fool you – this boilerplate supports all EMV-compatible chains, including Palm. It also supports NFTs by default:

showing the ethereum boilerplate dapp in action with the nft drop-down menu

If you’d like some additional guidance on how to use this universal Web3 boilerplate, our article exploring how to create a decentralized website on Ethereum is just what you need.

Exploring the Palm Network – What is Palm NFT Studio? – Summary

In today’s article, you learned that Palm NFT Studio is a tech company behind some of the largest NFT projects, and it is the corporation behind the Palm blockchain that focuses on supporting NFTs. Along the way, you also learned what this NFT-development-focused company does. Furthermore, you now know that Palm NFT Studio endorses no official non-fungible tokens (NFTs). However, there are already several million NFTs on the Palm network. We also informed you how to add this network to MetaMask and where to access the Palm-Ethereum bridge. With these tools, you can engage with Palm Studio. Last but not least, you also learned that Moralis can help you create NFT dapps on Palm or any other leading blockchain without breaking a sweat. We even explained how you can get started and what additional shortcuts can save you a lot of time.  

So, if you are interested in building cross-chain dapps the easy way, create your Moralis account and tackle our tutorials. Moreover, you might want to explore other blockchain development topics. In that case, Moralis’ YouTube channel and Moralis’ blog are the outlets for you. For instance, some of the latest topics explain how to set up automated Web3 notification emails with Python, the best ERC20 token balance API for dapp development, what the Goerli testnet is, what blockchain infrastructure companies are, and much more. Nonetheless, you can become blockchain certified by enrolling in Moralis Academy, where you can complete various high-quality courses. We recommend starting with blockchain and Bitcoin fundamentals.    

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