Crypto startup Palm NFT Studio said on Thursday it had raised $27 million in an early-stage funding round led by Microsoft Corp’s venture fund M12 with participation from venture firm Griffin Gaming Partners. Palm NFT, co-founded by Joseph Lubin, offers services for artists to establish NFT marketplaces. Lubin was also one of the co-founders of ethereum, the world’s most popular cryptocurrency after bitcoin. An NFT is a digital asset that exists on a blockchain, which serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership. NFTs have a unique digital signature and cannot be reproduced. Other investors in latest Series B round included investment firms RRE, Third Kind Venture Capital, NFT investor Sfermion, and The LAO. Palm NFT Studio’s Chief Executive Officer Dan Heyman told Reuters in an interview that the company intends to use the capital to scale its platform by investing in research and …