Palm is a culturally and creatively rooted NFT ecosystem. As per the latest update, Palm has announced a partnership with Wyre. The venture will open doors for worldwide art lovers. Wyre’s fiat to crypto will allow the users to buy NFT in exchange for fiat. The same will eradicate the entry barriers and simplify the method to buy digital assets on the platform.
Reportedly, the debut collaboration is with artist Damien Hirst. He will be presenting ‘the currency project’ that could be immediately purchased. Reports say that the currency project is a series of 10,000 separate NFTs.
Presently, the NFT platforms are encountering the problem of transaction fees. The marketplaces running on Ethereum extract tens or hundreds of dollars for transferring NFTs. Palm will resolve the problem, including scalability, lower gas fees, eco-friendly energy, and fast transaction speeds solutions. The people interested in NFTs can now easily dodge these problems by picking the Palm ecosystem using fiat currencies. The improving and advancing system in the non-fungible segment is quite impressive. The smooth flow of the system will undoubtedly attract more traders to the market. As per Ioannis Giannaros, CEO of Wyre, NFTs have the potential to take the world by storm. However, till now, accessibility and usability have been two big barriers for the industry. The venture with Palm will resolve all these problems. He added that we have entered into this venture to assist the NFT ecosystem.
He mentioned that they are thrilled to work with Palm. The users can now enter the NFT market by using Wyre’s fiat to the crypto onramp. Palm’s ecosystem has art and culture. The integration with Wyre will help them remove the entry-level barrier and open doors for crypto accessibility for all art lovers across the globe.