Portion Partners with Palm to Drastically Reduce the Cost and Environmental Footprint of Minting NFTs.
The creator-first initiative starts with a breakthrough drop from XCOPY and Lil Pump. Decentralized NFT Auction House, Portion.io, built on Ethereum, 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, resourcing 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’s 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.”
To launch the partnership, Portion will release a series of original pieces in collaboration with Palm NFT Studio, a creative studio dedicated to establishing next-generation experiences on Palm. The first wave of Portion x Palm NFT Studio drops showcases cross-genre collaboration; featuring new work from cryptoart pioneer XCOPY and hip hop rule breaker Lil Pump that’s scheduled to go on sale August 31 via Portion. Consisting of 10 editions of 10 new NFTs, the project unites two visionary artists from across digital subcultures to explore identity and dystopia.
“In collaborative projects I have to think more about how to bring both worlds together,” said XCOPY. “The art pieces were created with my style plus a unique meaning related to Lil Pump: his music, passions, and things he loves. His lifestyle and my visual style have been combined in each artwork.”
The XCOPY x Lil Pump series is the first of many drops aimed at opening up the NFT space to new artists, audiences, and collectors. Portion’s partnership with the Palm network is another stroke in a comprehensive reimagination of the Portion platform, and a commitment to championing accessibility to sustainable NFT technology. Stay tuned for updates.
We got some feedback from XCOPY on this collaborative project:
Can you tell us about the pieces that you and Lil Pump created for this drop?
The art pieces were created with my style and things which relate to lil pump. Each piece has a unique meaning related to lil pump. His music, passions and things he loves. His lifestyle and my style has been combined in to the artwork.
Where do you go creatively on collaborative projects that you don’t in your solo work?
In collaborative projects i have to think more about how to bring both worlds together. I have to put my ideas aside and bring my creativity with the connection of the artist in the artwork
Your work tends to have a dystopian feel to it. What’s your vision of the future?
I see society, culture is going to get worse. People will have to live with it and accept it. People are living on the internet more than their towns or cities and in the future more in the metaverse than the internet.
In collaborative projects I have to think more about how to bring both worlds together. The art pieces were created with my style plus a unique meaning related to Lil Pump: his music, passions, and things he loves. His lifestyle and my style have been combined in each artwork.
The new collection is due to go on sale at Portion.io on August 31, stay tuned in.