Palm Network is already known for its role in revolutionizing the NFT landscape, with partnerships that include sports and entertainment giants such as MLB, NASCAR, WWE, Netflix and Warner, recently announced a new crypto collaboration with Polygon. 

The Palm Foundation, the non-profit organization behind the Palm Network, recently provided the exciting news for creators, sports and entertainment fans. 

As of today, the foundation announced its collaboration with Polygon Labs to build a Polygon ZK Supernet, an initiative that will significantly scale the Palm Network to meet growing demand. 

This collaboration aims to foster innovation, increase accessibility and create a thriving ecosystem for artists, collectors and fans.

After Netflix, we see Polygon and Palm Network together to promote innovation in the crypto and NFT worlds

By partnering with Candy Digital, a next-generation digital collectibles company, Palm Network offers fans unique digital collectibles through the minting of active drops on the network. 

In addition, HENI, a leading art services company associated with renowned painter Damien Hirst, is among the partners that are building the network.

With more than 1.7 million wallet addresses and 6 million executed transactions, Palm Network’s expansion into the Polygon Supernets ecosystem will make minting, trading and collecting digital assets more accessible than ever before.

The roadmap for this transformation includes a two-step migration process. First, the Palm Network will migrate to a Proof-of-Stake (PoS) chain by 1 August 2023. 

Then, in 2024, it will migrate to a Supernet Zero-Knowledge (ZK), known as zkL2, with the collaboration of Polygon Labs and ConsenSys. 

This upgrade aims to provide high speed, security and scalability, making the Palm Network a zkEVM multiprover.

Polygon Supernets, Polygon Labs’ cutting-edge technology, provides high-performance, customizable, low-cost environments ideal for projects such as Palm Network. 

The transition will allow Palm Network to seamlessly interoperate with Ethereum and the rest of the Polygon 2.0 ecosystem, leveraging their immense liquidity and eliminating isolated assets in the NFT sector.

Andrea Lerdo, executive director of the Palm Foundation, expressed enthusiasm for the move, urging creators, brands and developers to embrace Palm’s new era as Polygon Supernet. 

Lerdo stressed that the migration to Polygon Supernets will enable users to explore the future of blockchain products, enjoy enhanced experiences, participate in new governance processes, and take advantage of educational opportunities.

Innovations from the Palm Foundation 

The Palm Foundation has introduced the Proof-of-Contribution (POC), a unique collectible that is achieved by actively engaging in the Palm ecosystem. 

By participating in events, courses, and making contributions to the ecosystem, community members can determine their own access and influence within the Decentralized Autonomous Organization (DAO). 

This mechanism allows individuals to directly influence the Palm Foundation’s grant program and, in the future, the broader governance of the Palm Network.

The Palm Network is not only a platform for art and collecting; it goes beyond that. It also promotes education through the Palm Academy, which links learning with blockchain technology. 

Students and faculty have the opportunity to collect POC after completing courses, making education rewarding and an avenue for greater involvement in the Palm network.

PalmDAO, another innovative initiative, enables creators to self-organize using an open-source, on-chain DAO-as-a-service, allowing individuals to make a real impact and practice self-determination.

Upgrading the network to a Supernet Polygon

The upgrade to a Supernet Polygon marks a pivotal moment for the Palm Network, which is scheduled to officially launch on 1 August 2023. 

With a strong focus on democratizing art and technology, promoting education, decentralizing, and nurturing a vibrant ecosystem, the Palm Network is at the forefront of a new era of creativity and innovation.

The partnership with Polygon Labs, known for developing Ethereum scaling solutions, will undoubtedly take the Palm Network to new heights, providing creators with an unprecedented platform to connect with their audiences and unleash the potential of blockchain technology.

This partnership adds the Palm Network to the growing list of organizations leveraging Polygon’s Supernets, further strengthening Polygon’s position as a leading scaling solution in the Web3 ecosystem.

The Palm Network enters this new era and opens the door for creators, sports fans and entertainment enthusiasts to actively participate, contribute meaningfully and shape the future of Web3 globally.

Netflix leverages NFT technology in the new season of the animated series “Love, Death + Robots,” adding a whole new way to attract and entertain the community. 

9 pieces of art. 9 codes. the hunt begins #lovedeathandart https://t.co/h4Ijk7RrGI pic.twitter.com/uM51UOBnUj

— Love, Death + Robots (@lovedeathrobots) May 20, 2022

Netflix also enters the world of NFTs

Love, Death + Robots is an animated anthology series by Tim Miller, the director of Deadpool, and David Fincher (House of Cards). 

It is a collection of short films of varying lengths that address different genres and themes. A series packaged by teams from different parts of the world.

Just in the last few days, the latest season was launched on Netflix, and to make it even more exciting, the production decided to integrate a limited number of Non-Fungible Tokens into the short films.

For all lovers of cryptocurrencies and, more generally, of Web 3.0 development, this treasure hunt, or NFT hunt, is yet another confirmation of how much this technology is now part of our everyday life, playing a role in the entertainment world as well.

The 9 QR codes featured in both official social media accounts and episodes of the series will allow viewers to claim unique Non-Fungible Tokens. 

Users will simply have to use their phones to scan the QR code and redeem NFTs that will appear on their OpenSea accounts. 

A novelty intended only for U.S. users 

Unfortunately, this exciting new feature is a feature available only to U.S. users. What this choice is dictated by is unfortunately unknown.

We would then add that viewers to complete the claim of non-fungible tokens will, of course, have to have a MetaMask wallet or Coinbase account and be willing to pay Ethereum blockchain gas fees. 

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Netflix acquires the mobile games developer and publisher based in Helsinki, Finland, Next Games for €65 million. The global streaming giant is now expanding into the gaming sector. 

Netflix to acquire Next Games for €65 million

According to Michael Verdu, Netflix’s new Vice President of Games, the global streaming giant is ready to “develop games around the world” and is doing so by acquiring Next Games. 

Here’s the announcement from the Finnish game developer on Twitter:

Netflix Announced Plans to Acquire Next Games

Read the full release: https://t.co/xt6IHD395z

— Next Games (@nxtgms) March 2, 2022

“Netflix Announced Plans to Acquire Next Games”.

Next Games is the Finnish studio behind “Stranger Things”: Puzzle Tales, a story-driven puzzle role-playing game (RPG) inspired by one of Netflix’s most-watched series.

The deal involves Netflix paying €2.10 ($2.33) in cash for each share of Next Games, for a total value of about €65 million ($72 million). Both companies expect the deal to close in the second quarter of 2022. 

Netflix and Next Games to expand into gaming sector

Former Facebook employee Michael Verdu made statements on the matter:

“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities. We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world class games that will delight our members around the world”.

Verdu also added that Helsinki is one of the home cities of the world’s best mobile game-makers. Due to its proximity to other European cities with great talent, it will also help bring in-house game development capabilities.  

Netflix’s goal is to establish a portfolio of world-class games – with no ads and no in-app purchases – that will be enjoyed by everyone around the world.

Teemu Huuhtanen, Chief Executive Officer of Next Games also said:

“We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises. Joining forces with the world’s largest streaming service, Netflix, presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy. Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we create a strong partnership. This is a unique opportunity to level-up the studio on all fronts and continue on our mission together”.

JP Morgan’s analysis of the streaming giant

This choice by streaming giant Netflix to dive into the gaming sector could be the result of a downward trend it is experiencing. 

Doug Anmuth, an analyst at JPMorgan, released his analysis on Netflix whereby there had been a decline of 2.3 million new Netflix subscribers in the last quarter of 2021. 

Not only that, Anmuth also predicted a lowering of the user estimate for the first quarter of 2022, namely from 6.5 million to 5.5 million, also lowering the target price from $750 to $725. 

 

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