Portion Partners with Palm to Drastically Reduce the Cost and Environmental Footprint of Minting NFTs

Portion Partners with Palm to Drastically Reduce the Cost and Environmental Footprint of Minting NFTs

Portion is a decentralized NFT Auction House, built on Ethereum, that was created to directly support the greater artistic community. Recognizing the impact that blockchain technology would have for tracking provenance and verifying authenticity of rare goods, art, and collectibles, the Portion team created the initial concept in 2016 before the “NFT” word was colloquialized. Today, Portion’s platform sources works from iconoclastic creators across the media landscape, while its decentralized community empowers emerging artists and formats. From taking 0% of artists’ work to offering 11% royalties on secondary sales, supporting creators is Portion’s mission. 

Now, Portion is adding support for the Palm network: giving artists the opportunity to mint and sell their work, sustainably.

The integration of Portion’s premier online marketplace with Palm’s environmentally-friendly infrastructure is designed to remove barriers to blockchain creativity, allowing artists to mint NFTs for a fraction of the traditional cost while providing a 99.99+% reduction in energy consumption compared to Proof of Work systems.  

“The decisions we all make at this pivotal stage of the emerging NFT era will define the industry and culture for decades to come,” said Portion Founder Jason Rosenstein. “While much of the NFT sector has focused on short-term goals, the Portion team has been quietly orchestrating a monumental undertaking that we feel will elevate the game for digital assets.“

“Our mission to build a sustainable NFT ecosystem can only come to life when as many people as possible have access to the benefits of blockchain,” said Palm Co-Founder Dan Heyman. “It’s our hope that this partnership will empower a new wave of artists to pursue their creative dreams in ways that are scalable, equitable, and sustainable.”

Portion’s partnership with Palm is another stroke in a comprehensive reimagination of the Portion platform — from tokenomics to drops to user experience. As the first open NFT platform to offer support for both Ethereum and Palm networks, Portion is removing the barriers to entry for creators, while continuing to offer them up to 100% of the proceeds from the sales of their work. And the more brilliant creators that are able to access this ecosystem, the better off we all are.