Non-fungible token infrastructure (NFT) company Palm Foundation will expand its support targeting minting and trading tokens on its native Palm Network, according to recent information from the Coindesk.
The news comes after the partnership with the sidechain developer Ethereum Polygon Labs and tools company Web3 Consensys which intends to build the network as a Polygon Zero Knowledge (ZK) Supernet.
The NFT infrastructure company already supports NFT collections from sports franchises such as Major League Baseball, NASCAR and WWE, as well as entertainment companies such as Netflix and Warner Brothers.
In one post on its blog, the company highlighted the introduction of Palm DAO, highlighting its potential to empower communities to make collective decisions and drive positive change.
“With the Proof of Contribution (POC) system, community members can actively engage with the Palm ecosystem and earn unique collectibles. This innovative approach allows individuals to shape their access and influence within the DAO, fostering a genuinely participatory and decentralized governance structure,” he wrote.
The Palm ecosystem has over 1 million wallet addresses, signaling a strong and growing community. It serves as a means for creators to showcase their work and generate unique NFTs using technology blockchain.
