Dear Bankless Nation,🏴

In this issue of DA we talk about two pieces of news concerning the topic of security, first the theft of an NFT and then the concerns of an NFT community.

The first rule in crypto has always been to stay safe. Staying safe means many things: jealously keeping the private keys of your wallets, not trusting any offer that is too good to be true, not sharing screens, folders, emails with anyone you do not trust completely. Staying safe can also have community initiatives, such as sharing information. What a community / DAO can excel at - and often excels at - is DYOR. Being able to study projects in groups helps to scale this type of research, obtaining far more results than proceeding alone.

DA was born from the BanklessDAO community and wants to preserve this character of sharing and mutual aid and, we invite you to send any suggestions on Twitter on how to improve.

Welcome to Decentralized Arts.

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

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🌐 Curated NFT News

Seth Green Pays $300K To Recover Stolen Bored Ape NFT

American actor known for his work in Austin Powers, Family Guy, Teenage Mutant Ninja Turtles and Guardians of the Galaxy lost his Bored Ape #8398 last month in a phishing attack. He got scammed while trying to mint an NFT from a fake site.

Green originally paid around $200K for Bored Ape #8393 that was meant to be the star of Green’s upcoming TV show “White Horse Tavern”.

Last week, the actor confirmed in Twitter Spaces that the NFT is back home. The transaction shows that he paid 165ETH to the NFT collector that had bought the bored ape in good faith from the scammer.  

Green used NFT Trader to settle the transaction as Opensea had frozen the NFT in their platform because of suspicious activity.

MFERS Creator Sartoshi Vanishes

The rapper and NFT influencer is teaming up with LA-based Food Fighters Universe (FFU) to launch an NFT-themed dessert restaurant.

The restaurant, called Dr. Bombay’s Sweet Exploration, will use the rapper’s Bored Ape for the branding of the eatery that is expected to open in Los Angeles.

Dr. Bombay is the name that Snoop has given to his Bored Ape.

FFU launched earlier this year with the first restaurant using Bored Apes as inspiration for decoration and branding: The Bored & Hungry Restaurant.

‘Champ Medici’ and Snoop Dogg spoke about the partnership: “I saw what they did with Bored & Hungry in Long Beach, and I said, ‘We need to work with these guys.’” 

These restaurants are not initiatives of Yuga The anonymous figure announced last week their departure from the NFT Space. The post does not explain the reasoning of this decision, but shows Tweets from random users that predicted that Sartoshi would do a Satoshi Nakamoto and disappear.

The announcement outlines the steps that have been taken so that the mfers community can control the project as a DAO with no involvement by Sartoshi.

Sartoshi always wanted the community to decide on the mfers project and soon after the mfers dropped a group of fans created the unofficial mfers. The multisig is controlled by og mfers: imp0ster, zhoug, masterchan, metabananas, lexito, mleejr, & kml.

The mfers creator royalty fees are 5% and this is how they are going to be split:

·       50% unofficial mfers multi-sig;

·       25% sartoshi creator-royalty wallet;

·       15% westcoastnft (main mfers dev team - obligated to receive 15%);

·       10% other mfers dev/consult.

Sartoshi dropped the “end of Sartoshi” open edition collection before exiting the space taking around 1K ETH.

The community has mixed thoughts on the developments of the events. While some praise the move as an act of genius others feel that this completes Sartoshi’s slow mfers rug pull.Labs, who are creators of the Bored Apes Yacht Club. However, Yuga Labs grants the holders of the NFTs commercial rights to the images of the NFTs they own, making these business ventures possible.

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THE SHERWOOD PROJECT

Planting Seeds of Ideas 

By Kaf

The film market is, without a doubt, one of the largest in the world. Platforms like Netflix and Amazon Prime have revolutionized the way we consume both TV series and movies, though the concentration of power and profit remains in the hands of a few. These platforms, and practically all industries, must adapt to the paradigm shift that is coming with Web3.

Here on Decentralized Arts, we’ve talked about The Minted, an NFT movie that sought to finance itself through NFTs. In the case of the Sherwood Project, holders will embark on an adventurous documentary that aims to enact global change. They'll be given voting rights as pertains to various aspects of the project, gain access to a web3 incubator, and be part of a community whose shared goal is to create the best Web3 documentary/film ever made!

A film studio in the hands of a community

The Sherwood Project aims to create an NFT documentary/film funded by NFTs, about NFTs, while proving the real world impact of Web3 . To achieve this, they have launched a collection of 8,333 NFTs, or “NFSeeds,” that give you membership in the community. From the project site:

As an NFSeed holder, you will have the opportunity to influence the making of a film, and gain exclusive benefits to NFT projects incubated under The Treehouse program.

The NFSeeds are not “the final form” of the project, but rather the beginning. It is the first step on this adventure. Each NFSeed has the ability to transform into a new NFT supported by ”The Eyes of Sherwood,” an undiscovered ally of the project, and heart of the documentary. Their vision will help shape the next iteration of the NFT. It is up to the owner of each NFT to decide if they want to transform the NFSeed. The new NFT will be revealed in the fourth quarter of 2022, and the new NFT design will directly correlate with the real world impact of The Sherwood Project.

Still image of The Sherwood Project’s NFSeed, described as “an acorn, the fruit of the Oak tree, and a vessel for its seeds. The acorn radiates color against the backdrop of a question, a unified symbol of The Sherwood Project’s mission. Like a true acorn, The Sherwood Project’s NFT, or NFSeed, will spark an expedition.”

"The documentary will capture every angle of The Sherwood Project’s DNA and the discovery of the ‘Eyes of Sherwood’, as we follow their journey as they make a global impact, redefining the use-case for NFT technology." If you are reading this, and want to make a real-world impact, and have a vision on how to do so, you can apply here. "If you are selected to be the ‘Eyes of Sherwood’ funding, resources and mentorship will be provided to help create something truly unique and achieve positive change on a global scale."

Treehouse

Simply put, as described on their site: “The Treehouse is the incubator program for Web3 and NFT projects within The Sherwood Project. The Treehouse will provide grants, mentorship, and an integrated community of consumers and supporters for select NFT projects, developing new kinds of stories into films, series, games and more. ”

In addition, if you buy an NFSeed you will be helping the environment thanks to The Sherwood Project’s two partnerships; the first with PolygonDAO, one of the networks that emits the least amount of CO2, and the second with One Tree Planted, a project that aims to make it easy for anyone to help the environment by planting trees.

The Founders

The Sherwood Project is co-founded by Matt Silverman and Luke Dale. Web3 does not need trust between users, but in the case of NFT projects, if the founders show their faces, or “dox” themselves, it gives credibility to the project and provides enormous security to the project’s token and/or NFT holders. This is why it is important to note that The Sherwood Project has two renowned and fully doxxed creators who continually interact with the community.

What 's coming?

The launch will take place on June 15 and the presale is already SOLD OUT, through their presale. With this, they have raised 70,000 USD that will spark further development of the project. Once they have released the full collection and found the “Eyes of Sherwood”, the interesting part of this journey will really begin.

The Sherwood Project 🎬 @TheSherwoodProj

Thanks to our INCREDIBLE presale community, we have so far raised $70,000.00 $USD to launch #TheSherwoodProject 🌱 You are superstars! ⭐️🚀 #NFT #NFTs #NFTdrops #NFTProject #NFTart #NFTartist 🌲

June 4th 2022

17 Retweets50 Likes

As Bankless people, you know of many NFT utilities. However, this space does not stop evolving, and The Sherwood Project shows us that there are still many uses to discover.

Luke and Matt kindly agreed to answer some questions.

DA: First of all, congratulations on the presale SOLD OUT! How did the idea of the project come about?

L&M: Thank you! Co-Founder Luke Dale posed the idea of an NFT documentary to his TikTok following and was met with overwhelming enthusiasm. This led to a 3am call to Matt Silverman, and the rest is history.

DA: How did you meet … and you?

L&M: Co-Founder Matt Silverman interviewed Luke Dale on his podcast ‘Cool Hand Crypto’, a show that examines the intersection between cinema and Web3. The two have remained firm friends ever since, connected by phone nearly 24/7 in an effort to build The Sherwood Project. They have yet to meet in person, which will be filmed, as a part of the documentary.

DA: Where does your love for cinema come from?

L&M: Luke Dale has been an actor his whole life and grew up watching all kinds of films. He started his production company in 2018. 

Having grown up in a small town outside of Boston, Matt Silverman has always considered the movie theater his sanctuary. A cinephile, filmmaker and Web3 pioneer, Silverman is using his near 15 years of experience working inside the Hollywood system in Los Angeles to bridge the gap between traditional film development, financing and distribution and a new vertical with Web3.

Dale and Silverman have incorporated together as Web3 Pictures LLC, harnessing their shared devotion to cinema to pave the way for a new era of storytelling. Slated first for Web3 Pictures is The Sherwood Project, a documentary showing the power of cinema, the gravity of story, and the wonder of Web3.

DA: Do you already have a favorite artist in the community?

L&M: The Sherwood Project community, and specifically the Discord community, is bursting with talent. We can’t pick favorites just yet, but we suspect a long working relationship with many of the artists inside our community. 

DA: Do you think all movies will be NFTs in the future?

L&M: We’re noticing a growing appetite for an evolution in the way films are financed and consumed. With more celebrities and executives jumping into the space, we’re confident Web3 Pictures will continue to help onboard a new wave of NFT filmmakers. 

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