In late March, ConsenSys unveiled the soon-to-launch Palm, both an NFT blockchain protocol and the Palm NFT Studio. Backed by ConsenSys, HENI Group and HeyDay Films, Palm revealed the first artist to use the offering as Damien Hirst’s The Currency Project. Meanwhile, Palm’s CEO Daniel Heyman views non-fungible tokens (NFTs) as playing a similar role to a record collection in days gone by.
Heyman spoke about how growing up, he’d show off his CD collection to his friends, and for older generations, the medium was vinyl and cassettes. “In the last 20 years, we’ve kind of replaced that ownership expression of identity with a more social media-based expression of identity,” he said. In his personal view, social media is less authentic.
“It fundamentally moved away from this ownership relationship and fans became just takers rather than feeling like active stakeholders in and alongside a creator. My view is that NFTs will be that CD collection, or record collection of the future.”
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