Dear Bankless Nation,🏴

Now that we’ve reached the milestone of the fortieth release of Decentralized Arts, we can think about the results achieved so far and how to adapt our strategies to the changing world while allowing BanklessDAO to continue to attract new members. If opening up to new communities is essential, it is equally important to receive feedback from all those who participate in the crypto ecosystem. We therefore invite you to send us your ideas and suggestions in DM on Twitter. Write to us!

In a week that seemed to lack certain direction, one NFT project stood out among the others. We are talking about "Keep Pooly Flying", born from the need to raise funds to support the legal costs of the lawsuit filed against Pool Together and which we are talking about in this issue.

Welcome to Decentralized Arts.

Contributors: BanklessDAO Writers Guild (Grendel, Kouros, Kaf, nonsensetwice, Frank America)

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🌐 Curated NFT News

MetaMask Teams Up with Asset Reality to Help Victims of Scams by Recovering Stolen Funds

Metamask, one of the most popular self-custody wallets, announced last week that they are partnering with UK based financial services company, Asset Reality, to help victims of cryptocurrency scams recover their assets.

Asset Reality acts as case handlers on behalf of MetaMask and this support will be available worldwide free of charge unless there is need to take legal action. In  which case the victims will need to cover the legal costs.

However, if the legal costs are too high for the victims, Asset Reality will help victims of scams to join forces as a group to get better chances of succeeding recovering the assets!

If you think your wallet has been compromised or you are a victim of a scam you can contact Metamask Support and provide any relevant information to help the team start the investigation. The support team will then advise on next steps including safety tips and you will have the option of opening the case with Asset Reality for further support.

Dan Finlay, Co-Founder of MetaMask, said:

“Helping users investigate and recover lost funds is a strategic tool in a multi-faceted strategy that we are continuously executing that includes improving security, user education, and new ways to back up assets. Through this industry-leading partnership with Asset Reality, ConsenSys and MetaMask want to allow victims to join together, build cases against these scam operations and bring them to justice. It’s really important that victims of hacks come forward, no matter how small. They could reveal or be the starting point of a wider investigation and create the opportunity to aggregate claims to commence potential legal action.” 

PoolTogether Launches NFT Sale to Fund Legal Defense

PoolTogether, one of the earliest DeFi projects that went live in 2019, has launched NFTs to help fund the legal costs to fight against a lawsuit that was filled in October of last year.

The lawsuit challenges the legality of the operations of PoolTogether Inc. in New York by accusing the company of running an illegal lottery in the state of New York.

Joseph Kent, a software engineer who previously worked for U.S. Senator Elizabeth Warren, initiated the lawsuit against PoolTogether Inc. “PoolTogether is violating New York’s prohibition on operating an illegal lottery.”

PoolTogether, which bills itself as a “protocol for prize-linked savings,” on its website, has countered with a distinction which is key to all of DeFi — the separation of protocol from company.

“PoolTogether Inc. operates a website that provides an interface for users to connect their cryptocurrency wallet to an autonomous, decentralized savings protocol that resides principally on the Ethereum cryptocurrency network,” reads the company’s response to Kent’s lawsuit.

In brief, PoolTogether allows people to deposit crypto assets for a chance to win a prize. However, nobody loses money as the users can withdraw their assets at any time. The only cost is the transaction fees. In turn the protocol earns yield on those assets by lending them in other protocols like Compound.

PoolTogether is often considered not to be a lucrative business but a tool to understand DeFi. The Wall Street Journal said , the lawsuit “appears to be a deliberate effort to put some of the DeFi communities core doctrines to the test.”

The NFTs are available in three editions for 0.1 ETH, 1 ETH, and 75 ETH each and at the time of writing they have sold 397 ETH worth of NFTs. The mint will continue until June 26.  

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NO SOLO UN JPG

The first Spanish language NFT collection

By Kaf

Despite having exploded in 2020, NFTs still have a long way to go before mass adoption. Many people think an NFT is a JPG of a monkey. That is why, No Solo Un JPG, chose its name: to make it clear to those people that an NFT is much more than an image you can right-click and save.

NSUJPG

No Solo Un JPG (NSUJPG) is the first Spanish language educational and utility NFT project. The first generation consists of 2,514 handmade tokens, each with different characteristics, items, classes and utilities.

Go to opensea

Each NSUJPG token is completely unique, so they’re already pretty special, but the collection also has different features, like items, objects, pop culture references, and secret properties that give it different levels of rarity.

The collection includes ten NFTs with a distinctive background that will go up for auction. These NFTs will give access to a quarterly Mastermind group with the founders where they will help members of this group with their NFT projects. Access to this Mastermind group will extend for three years. 

The rarest NFTs in the collection are four Gold NFTs up for auction. In addition to having all the above benefits, these NFTs have a special utility that will allow owners to appear on NSUJPG’s YouTube channel. Each NFT has a maximum of three uses until December 2024.

As we explained in a previous article, there are many platforms and blockchains where you can buy an NFT. NSUJPG initially wanted to launch the collection on Polygon, but they later decided to move the collection to their own smart contract.

NSUJPG was born with the mission of educating Spanish speakers about NFT technology. Seen as something necessary to the educational process, and since Spanish is the second most spoken language in the world, the founders decided to launch the entire collection, their podcast, and their YouTube channel in their native language. These types of projects that focus on educating their community are vital for the NFT market to continue to grow. In a few years it will not be necessary to explain how to set up a crypto wallet or how to mint your first NFT, but today it is totally necessary, and very welcome.

Who 's Behind NSUJPG?

After the latest market crash, many NFT projects have gone to near zero. One of the keys to maintaining a project collection and improving its floor price is for founders to commit to the community. In the case of NSUJPG, the founders are two such people, committed to their community, with long experience in networks and entrepreneurship and no intention of abandoning their holders.

Euge Oller is the founder of Emprende Aprendiendo, Flash Books, and owner of Leader Summaries. He is on the Forbes list as one of the 60 most outstanding influencers of 2019. For his part, Humberto Cabaña is a graphic designer with more than ten years of experience in the creative sector and participates in graphic projects around the world.

What’s coming?

Their vision with NSUJPG is long term. Their roadmap is dynamic, always changing, and adapting to new objectives. You can see everything they have achieved so far here.

Furthermore, every owner of an NSUJPG NFT will have access to an exclusive two-day online event that will take place once a year for three years. The event will focus on new blockchain technologies, NFTs, creativity and innovation, generative art, the metaverse, and the future of these technologies, featuring experts in these fields. 

Recently they have dropped the tickets for the first NSUJPG event to be held on June 4th and 5th. They are currently developing a special token for NSUJPG whales with a unique utility, with plans to drop it by the end of July.

The collection is working on their roadmap version 1.4, which will be announced soon.

Asking the founders

We contacted Humberto through the NSUJPG Discord and he kindly agreed to answer some questions.

DA: Where and how did the idea of NSUJPG come about?

NSUJPG: NSUJPG arose from the need to open a market in the Hispanic sector, when Euge and I met to contemplate what we could do in the sector, we realized that addressing an NFT project exclusively in Spanish was going to have many challenges... that is why we decided to focus on an educational project, in which we could experience, explore, learn and teach everything about the NFT world.

DA: How did you meet Euge?

NSUJPG: We met at lunch on a Euge trip to Argentina a few years ago, then I started working formally for Emprende Aprendiendo and other Euge projects. Subsequently, a very solid professional synergy was created first and then a fairly strong friendship, then for different reasons I had to stop learning and a few months later we began to plan a project together where we could address the NFT issue.

 DA: What can starters expect at the upcoming event on June 4?

NSUJPG: An event loaded with information, experiences and innovation with greats from the NFT sector. The guests that come are really amazing, and our mission is to innovate more and more in the next events, so seeing the whole process can be interesting. In addition, we will surely have one or another exclusive surprise for the event.

DA: What do you think is the main obstacle when launching an NFT collection?

NSUJPG: The truth is that there are several obstacles we have overcome during this whole process, but if I chose one I would say that it is to cause a real impact in the community... the community is the heart of every NFT project, and if you do not add tangible and real value to a community that believes and trusts in your project is very difficult to carry out

DA: There is still a lot of skepticism and even more so during bear markets like the one we are experiencing, what would you say to those who are doubting about NFTs right now?

NSUJPG: That we understand, it has happened before with great technologies before, before people believed that it was absurd to think that email would replace traditional mail... but it can be interesting to open up a bit and investigate the benefits of technology... I would not particularly invite nobody to spend money on something they don't really understand, that's why it's important to do a lot of research first.

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