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Metakey and the Metaverse | Decentralized Arts
Dear Bankless Nation,
Brand adoption of NFT technology is a common theme here at Decentralized Arts. From adidas to Porsche, more companies are diving into the space to make use of the incredible value proposition provided by the blockchain. Furthermore, developers are paving the way forward with new and profound ways of making use of this technology to bring far more utility to NFTs than currently exists.
As NFT adoption continues to grow, users and brands are both doing their homework to determine what rights they have over transactions that happen on the blockchain. Porsche has taken steps to manage their liability with acknowledgement of their refund policies during the NFT sales process. Kouros gives us the details in Curated News.
More and more services are turning to provide products and features that will be available across numerable metaverses and platforms. kaf brings us up to speed on Metakey, a new service that seeks to integrate as many use cases for their tokens as possible, with the metaverse being a priority.
nonsense brings us the alpha on this week’s d’Art Drop: we’re celebrating the third installment of a series of four pieces from debrabdesign, “Ethereal Fusion.” Her second piece was popular; you won’t want to miss your chance to acquire this next one.
The Rug, web3’s mostly credible news, celebrates another newspaper-style headline with a free mint. Read the headline, get your laughs, and collect this limited edition piece before all editions are gone. Chippi throws shade on Trump family values, and DustyEye provides an update on their upcoming NFT collaboration.
Welcome to Decentralized Arts.
This is the official NFT newsletter of BanklessDAO. If you were a Premium Member of the Bankless Newsletter as of May 1st, 2021, you have been subscribed to this newsletter at launch. To unsubscribe, edit your settings here.
Curated NFT News
Refunds for NFTs?
Last week, Porsche dropped their first NFT collection priced at 0.911 ETH but failed to mint out and the team stopped the mint. People pointed out that the costly mint price and the lack of communication from the team lead to a lack of appeal for NFT enthusiasts.
The Porsche team then announced that they were going to cut the supply. This resulted in 2,363 NFTs minted in total.
At the time of writing the floor price was 2.25 ETH.
However, there was something new in the mint page that Darkp0rt stumbled upon, which he describes as game-changing for NFTs.
On the page, the brand specifically asked users to click on two check boxes to confirm the sale. One of the boxes read “I agree to the immediate provision of the contractual service (i.e., receiving the NFT) and I have been informed that I hereby lose the right of withdrawal.” Upon further digging, he finds a clause within the linked “Right To Withdrawal” document.
This clause states “If you withdraw from this contract [within 14 days], We shall reimburse to you all payments received from you.” Meaning that Porsche gives its NFT customers a right to fully refund their digital assets within 14 days of purchase.
Furthermore, Darkp0rt states that in the UK, EU, and other countries, a 14-day cancellation law applies when buying goods or services. This is called “Distance Selling” regulations which also extends to digital goods and downloads. Since Porsche asked users to check the box beforehand, they are not liable.
With these premises, Darkp0rt is trying to set precedence, as he has asked Yuga Labs for a refund on the purchase of his Otherside NFT some months ago.
As a citizen of the UK, the law states that he would be liable to use consumer rights within the boundaries of ownership and if the seller does not inform you of your rights the period extends to 12 months.
DA will keep an eye on how the story unfolds.
Web3 Gaming Platform Fractal Expands to Polygon
Fractal, founded in 2021 by Twitch co-founder Justin Kan, is now available on Polygon. The gaming platform provides the infrastructure for companies to easily create blockchain-enabled games. It provides its own launchpad, NFT marketplace, tournaments, and developers SDK.
Fractal is planning to work with the top 30 Polygon games to launch tournaments and other contests to drive new experiences for players.
The deal will also make creating games on Polygon more accessible and will offer a bigger variety of the games on offer.
Polygon Ventures has taken a stake in Fractal so the gaming organization will benefit from the resources and reach of the Polygon network to continue to grow.
Collect The Rug Vol. II Issue #2 For Free [Limited Edition]
In Volume II, Issue 2 of our newspaper-style NFT, we look at the extra-terrestrial origins of bitcoin, the inherently dangerous nature of twins, and how Trump NFT holders got airdropped classified intelligence.
Brought to you by The Rug
Collect this NFT.
Metakey: The Key to Unlocking the Metaverse
Exploring the Boundless Possibilities of Blockchain Technology
NFTs have emerged as a revolutionary concept in the digital world. These unique digital assets can serve as "keys" that unlock exclusive features, memberships, subscriptions, items, and more.
NFTs have the potential to fundamentally change the way the internet operates. They provide developers with new tools to build a more secure and fair web, and for brands, they offer new marketing possibilities and fuel new community behaviors.
Metakey is a revolutionary NFT initiative that explores the boundless potential of blockchain technology to create a new level of convenience and accessibility for users.
Let's see why Metakey project is not just a token.
What is Metakey?
According to the Metakey website, the project tries to integrate one key for as many uses as possible, across as many projects as possible.
Metakey is an NFT (ERC1155) that can be used on partner platforms to unlock avatars, game assets, course materials, discounts, and anything else their team and partners can think of.
Know everything you can do with your Metakey
Metakey offers a wide range of benefits and opportunities to its holders, making it a valuable addition to any NFT collection:
Virtual events: Metakey hosts virtual events across multiple platforms (Decentraland, Sandbox, Somnium Space)
Metakademy: Metakademy is a database of exclusive courses for Metakey holders, curated from top NFT experts.
Wearable airdrops: The vast Metaverse will have collectible digital goods, airdropped to Metakey Owners in partnership with licensed brands.
Game Integrations: They 're integrating Metakey with Web3 games, allowing access to private spaces and special skins within partnered games.
Advertising: Metakey holders get free ads, participate in "Shark Tank" events for cash prizes. More spaces to eat.
Meta Krew: The Metakrew Avatar project provides dynamic community-focused virtual identities in social spaces like Decentraland.
Competitions: Metakey community has ample opportunities for competitions and airdrops.
White Listing: With a strong community, they have access to top NFT whitelists, like RTFKT-Clone X and the Australian Open-Art Ball.
Curated NFT Alpha: Don't miss NFT drops; their full-time analyst and active NFT community share tips in our private Discord.
Discounts: Metakey offers digital and real-world discounts to shops and subscriptions for Metakey owners.
Brand activation: Metakey is collaborating with numerous brands entering the NFT space, offering airdrops, whitelists, video streams, meetups and more.
One of the most exciting features of Metakey is the ability to participate in virtual events in different virtual worlds. These events are organized in collaboration with official partners and allow Metakey holders to experience exclusive content and experiences.
In addition to these virtual events, Metakey gives you access to Metakademy, an exclusive database for Metakey holders with courses on NFTs.
You will get digital product and handheld airdrops, game integrations, and advertising opportunities. You also get access to contests and whitelisting opportunities, a private Discord channel to share tips on the NFT market, discounts, and brand activation opportunities.
The company is also working on community projects such as the Metakrew, a collection of PFP avatars that are interoperable between multiple games and metaverse spaces, and the Metaverse Project, which aims to connect all physical and digital spaces and assets in the metaverse.
Metakey is an essential tool for people looking to participate in the web3 ecosystem and maintain a competitive edge within the metaverse.
Which Metakey Edition is Right for You?
When it comes to purchasing a Metakey, there are several options to consider. The company releases different Key Editions, each with their own unique design and supply.
The first three Keys, known as the "Collectors' Series," are highly sought after due to their low supply and the fact that owning all three will make you eligible to claim every future Key Edition for free. The Editions in this series include:
Edition 1: The Genesis: designed by renowned crypto artist Alan Bolton, with a supply of 500.
Edition 2: The Artifact: designed by RTFKT Studios, with a supply of 750. This key edition offers early access to RTFKT's greatest products.
Edition 3: The Ultimate: designed by Marc-0-Matic, this edition represents the company's commitment to the emerging metaverse, with a supply of 1000.
In addition to the Collectors' Series, Metakey has also released other themed Editions with larger supplies, such as:
Edition 4: The Captain: designed by Jair Marino, this Key Edition takes the company's sci-fi IP to new heights with an expanded community. Supply: 7500.
All Metakey Editions give access to everything the company does, but earlier edition holders often have access to extra special perks. Consider which design and supply appeals to you the most, as well as any potential perks or benefits, when making your decision on which Metakey to purchase.
Metakey is constantly developing new features and projects to enhance the experience for its holders. Some of the upcoming developments include:
New Ganymede: a metaverse gaming and social hub where holders can earn seasonal rewards and travel to partnered games.
3D Avatars: Avatars that can be used in New Ganymede and other games such as Decentraland, The Sandbox, and Somnium Space.
Large Scale Festivals: Metakrew holders will have access to large-scale festivals and events within the metaverse.
IRL Meetups: Metakey will organize some of the largest social and networking events in the web3 space.
Metakey is working with RTFKT Studios to incentivize artists to add extra value to their Metakey Editions. They also have a strategic partnership with CyberKongz, a community in the metaverse focused on creating fun and accessible experiences. Additionally, they have collaborated with the Australian Open NFTs to offer early minting of the AO Art Ball NFTs.
Metakey is an exciting opportunity for those interested in NFTs and virtual experiences. By holding a Metakey, collectors and enthusiasts can unlock discounts, receive airdrops, and experience unique events.
The project is also focused on building a strong community, as it understands that this is crucial for the success of NFT projects. It should be noted that the founder is Matty, one of the most respected personalities in the NFT world.
Joining the Metakey community can also offer opportunities for personal growth and future careers. If you're interested in NFTs and want to be part of a community working to drive engagement, Metakey may be a valuable resource for you.
Introducing weekly NFT art drops for the Bankless community, brought to you by Decentralized Arts.
This week, we drop the third piece from debrabdesign, entitled “Ethereal Fusion.” This one is for the community, though you Ethereum maxis will love it the most. We see a woman fully embodied in a world that is at once both natural and digital, proudly displaying her engagement in the Ethereum community. The solarpunks’ dreams have come to fruition, though perhaps not via the pathways they envisioned: instead, we have blockchain technology, and a bankless movement, to bring these dreams to life.
There will be 100 editions available at .02 ETH each, with 75% of proceeds being returned to the artist, 10% to the BanklessDAO treasury, and the remainder to cover Decentralized Arts’ expenses in gas fees and smart contract development to bring you this incredible art. Attend the BanklessDAO Community Call this Friday for the drop announcement, and grab your copy of this NFT when sales go live.
THE LEGION OF 444 – Part 2
by DustyEye, with L.Elrah, Hybridcode_ & Turinglabs
Dear BanklessDAO Readers,
We are almost there!
The digital plasma extracted by Turinglabs and dissected by Hybridcode_ has been in the hands of L.Elrah for almost a full lunar cycle. Finally the long wait begins to bear the first fruits; on the other hand, if you handle 444 demons, there is no worse enemy than haste.
We stress that the slightest distraction at this stage of the process could have catastrophic consequences.
The containment of the 444 entities must therefore always have absolute priority, as Prof. Egon Spengler has taught since 1984.
We begin to distinguish somatic traits, a hint of physiognomy. In seven days we will update you with further developments, but if in the meantime you have any suggestions that could help us in carrying out the operations, write to us at email@example.com.
See you next week,
A small joke contributed by The Rug.
PostScript & Acknowledgements
Decentralized Arts is written and produced by a small team of contributors who are passionate about art, both visual and written, and its growing place in crypto and NFTs. With each edition, we aim to bring you not only the most current and relevant news in the NFT space, but also explorations in what it means for our culture and societies for this market to continue to grow and expand. When everyone is an owner of art, we all gain a deeper appreciation for it.
If you enjoy reading this newsletter, please share it with someone who you think will appreciate the content. We also welcome suggestions via our feedback form.
With great appreciation for you, we thank you for reading and subscribing to Decentralized Arts.