Month: April 2022

Pastel Network Announces Listing Cooperation with KuCoin

Posted on by Pastel Network

We are excited to announce the cooperation of Pastel Network with KuCoin, one of the world’s largest digital asset exchanges. Through this cooperation, KuCoin will provide the offering and trading of Pastel’s native utility token, PSL, on the KuCoin Exchange as well as a Staking Program (described below).

The listing will take place on April 28, 2022 at 8:00 UTC.

KuCoin + PSL Trading Page can be found here.

Additionally, we will be launching a listing campaign — Pastel Listing Carnival. With this campaign, KuCoin will give away a prize pool of 40,000,000 PSL to qualified KuCoin users.

The Pastel Listing Carnival campaign is expected to take place from 8:00 on April 27 to 8:00 on May 5 (UTC).

Learn more about the Listing Campaign here.

Be sure to register on KuCoin and complete the following requirements:

  • Add the PSL/USDT trading pair to your Favorites List
  • Have a trading amount (buys + sells) of 10,000 PSL or more
  • Follow us on Twitter
  • Join us on Telegram, Discord and Reddit

PSL Staking on KuCoin

While Pastel does not have staking delegation at the protocol level to ensure the utmost security of the network — similar to Ethereum 2.0— we’ve partnered with KuCoin to make delegated staking on Pastel as accessible as possible.

You can stake with us on KuCoin for as low as 1,000 PSL and receive the same rewards as you would be validating a full Pastel SuperNode

More information on the Staking Program will be available soon.

Please be sure to join our Telegram and Twitter to be up-to-date on the Staking Program period and other details.

About KuCoin

KuCoin is a global cryptocurrency exchange for digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and has 8m + registered users across 207 countries and regions globally.​

KuCoin operates in the Seychelles, providing users with 24/7 multi-language customer services. Additionally, KuCoin has established around 19 local communities in North America, Europe, Southeast Asia, and other regions, providing users with highly localized services.​

KuCoin has supported over 420 projects with 800+ trading pairs. Projects with their primary listing on KuCoin include: ICP, BOSON, AERGO, RNDR, and DAO.​

In 2021, KuCoin has been rated one of the Best Crypto Exchanges by Forbes Advisor.​

About Pastel Network

The next generation NFT-focused blockchain. Certifiable authenticity. Permanent storage. Negligible fees. Build, secure, and scale your Web3 ecosystem with Pastel.

Pastel Network is a fully decentralized, developer-friendly layer-1 blockchain serving as the preeminent protocol standard for non-fungible tokens (“NFTs”) and Web3 technology.

Pastel infrastructure enables existing layer-1 blockchains, decentralized applications, or third-party enterprises to protect creators and collectors. From digital collectibles & media to documents & applications, users and developers are able to certify asset rareness and truly store data forever. Lightweight protocols delivered by interoperable open APIs such as Sense and Cascade can be easily integrated across existing networks. A wide range of Web3 applications can be built directly on the Pastel Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader ecosystem.

This article was first published by our team here.

What Are Permissionless NFTs?

Posted on by Pastel Network

Developers and companies are discovering dozens of new use cases for NFT technology—from community governance to luxury travel and real estate. 

There are many reasons NFTs are in huge demand, the most prominent being the features of their underlying infrastructure—public, permissionless blockchains that serve as the foundation for all things crypto-related. 

In this article, we dive into these blockchains and how they pave the way for us to discover the full potential of our NFTs.

What Is A Public Permissionless Blockchain?

Each blockchain is a shared database where transactions between a network of users are stored. The records are distributed among participants and made public so that anyone can access them inside or outside the network.

There are three primary forms a blockchain can take:
1. Permissioned,

2. Private,  

3. or Public and Permissionless. 

This article will focus on public, permissionless blockchains—like Ethereum—as they’re more commonly used for NFTs.

We can call any blockchain “permissionless” if participants can use it without restrictions. A public blockchain lets anyone access the blockchain. Therefore, a public, permissionless blockchain can be used by anyone, anywhere, without restrictions.

Permissionless Blockchains And Permissionless NFTs

Most NFT marketplaces allow any user to mint, buy, and manage their NFTs independently. However, some marketplaces—like the Binance NFT marketplace—may choose what NFTs can be created and shared, as well as gain access to the private key of the NFT holder, i.e., take custody of the token.

An NFT is only as “permissionless” as the blockchain that hosts it. But, most people have only ever interacted with permissionless NFTs due to this specific use case’s commercialized nature.

Remember, an NFT is just a token. Since community is the crux of many NFT collections (i.e., a 10,000 collection of Bored Ape Yacht Club NFTs), creators would be wise to host them on a permissionless (i.e., anyone can buy the NFT) blockchain.

In an alternate universe, a NFT creator could theoretically choose to mint their NFT on a “permissioned” blockchain, where only a private audience can access the token. 

The Benefits of A Permissionless NFT

Permissionless blockchains are the main reason NFTs have seen widespread acceptance, vast usability; here’s why:

Decentralization

If you purchase an NFT today, the record of your purchase is linked to the history of the NFT on the blockchain. Anyone on the internet can confirm the existence of your NFT without needing to go through any company or regulator. 

Since blockchains are distributed ledgers, this also means that no single entity can manipulate the records as they please. The value of the NFT can be trusted because the decentralized blockchain is free from control or manipulation by any entity or group.

Transparency

NFTs are stored transparently, so the record of the creation, sale and any transfers of the NFT are accessible to any prospecting buyer or any other interested party. 

If you consider purchasing an NFT, you can analyze the record of the NFT, its various sales prices, its creator, and the exact moment it was created. In this way, NFTs can’t be faked.

NFT transparency also applies to market sentiments concerning any particular NFT you are interested in. Some NFT marketplaces allow you to view bids made by other prospecting buyers, which can guide you as you decide how much you should pay for the NFT.

Anonymity

Permissionless blockchains allow you to trade NFTs without revealing your identity or undergoing rigorous Know-Your-Customer (KYC) checks that require you to submit government identification and other requirements. This means you can keep yourself and your NFT investments private.

Ease of Exchange

Unlike other assets that may require significant effort and time to purchase, NFTs can be sold in seconds on any NFT marketplace. Most NFT marketplaces have a straightforward process for listing your NFTs, so in minutes your NFTs can be available to the public and sold.

Final Thoughts: Permissionless, Non-Fungible Tokens and The Blockchains That Host Them

From CryptoPunks to Little Pudgys, NFTs have seen massive growth and will probably only see more. 

Anyone who owns an NFT owns a token that is a one-of-a-kind digital asset and cannot be replicated. 

Although NFTs can launch as a collection and may share the same attributes, each NFT in a 10,000 NFT collection would still have its unique signature—stored permanently on the blockchain—making it irreplaceable, even if the proposed replacement looks exactly the same.

The potential of NFTs for various industries and systems is still being discovered, made possible through the core characteristics of blockchain technology.

Public, permissionless blockchains like Ethereum, Solana, and Algorand make NFT creation and investment even more accessible.

While the NFT industry is still early, its underlying technology provides a sturdy foundation for many more use cases across industries.

Sense Protocol Demo

Posted on by Pastel Network

Powered by Pastel’s Sense Protocol for Near-Duplicate NFT Detection, experience Sense first hand and measure the relative rarity of any NFT.

We have spent over 3 years researching and developing groundbreaking technology — Sense Protocol for Near-Duplicate NFT Detection. We launched this demo for users to better understand its tangible benefits. It is an easy-to-use platform for creators, collectors, and friends of Pastel to certify the relative rareness of a particular NFT to verify its authenticity.

But, first, what is Sense Protocol anyway?

Sense is a lightweight protocol on the Pastel Network, built to assess the relative rareness of a given NFT against near-duplicate data. Sense can recognize the most subtle similarities between two digital collectibles, even if one has been transformed. The protocol goes beyond the standard “digital fingerprint” approach to establishing the rareness of an NFT and actually looks at the rareness of the pixel patterns in data.

How it works: The software leverages deep learning models to transform each NFT into a multi-dimensional fixed list of numbers (the ‘NFT fingerprint vector’). It then assesses the likelihood that a given fingerprint is a duplicate versus the database of existing fingerprints. The output — the Relative Rareness score— is a number between 0% (i.e., the NFT is identical to a previously registered NFT) to 100% (i.e., the NFT is completely unique).

Sense is a powerful tool that enables users to identify the relative rareness of an NFT, while simultaneously serving to protect creators and collectors from fraud, scammers, and outright theft. While we verify the authenticity and provenance using the creator’s digital signatures, we go much further and assess rarity of an NFT’s underlying pixel patterns. If value is largely a function of rareness, we believe that this additional layer of rareness authentication will result in better value assessment for NFT creators. After all, if another creator copies or creates a similar NFT in the future, they will still be able to register it, but it won’t achieve anything close to the rareness score of the original NFT. Platforms are able to guarantee that nefarious activity to produce counterfeits in the future will be futile, as any attempts to list duplicate works will result in low rareness scores or possibly be flagged for removal. Governance protocols at the network level can be implemented to handle false-positives or takedown requests.

So, what is Sense Demo?

A web-based visualization tool that demonstrates the core technology behind the Sense Protocol.

Dashboard of Public NFT Registrations. This shows “original” images receiving high rareness scores.

The Sense Demo provides tangible examples of how Sense protocol analyzes an NFT and transforms it into a multi-dimensional vector — the NFT fingerprint. It also allows users to verify an NFT’s level of rareness relative to the ecosystem and prove its authenticity by simply uploading a candidate file. The demo will run the metadata through Sense and the user will receive a comprehensive analysis of it with a plethora of details and data points.

Demo Overview

Detailed report on the “original” version of the image submitted to the system.
Detailed report on an intentionally created “near duplicate” image that had already been submitted.

By clicking one of the registered NFTs, users are able to view the detail and analysis (shown above) that Sense outputs for each registered NFT, including:

  • Registered NFT, Title, and Description
  • Overall Rareness Score: 0.00% to 100.0%, measuring the probability that an NFT is a duplicate relative to any previously registered NFT
  • Certification Badge: NFTs with Rareness Scores greater than 25% are labeled as “Rare” while those less than 25% are labeled as “Duplicates”
  • Top-10 Most Similar Table: Displays the top-10 most similar NFTs registered on the system & similarity sub-scores that determine final duplicate probability
  • NSFW Score and Analysis: Leverages Deep Learning like the industry-standard OpenNSFW to measure the probability of an NFT falling into a NSFW category such as “hentai”
  • Rare on the Internet Results: Comprehensive results and metadata for Google Reverse Image Searches & Google Lens — results are filtered using the same technology that powers our Rareness Score
  • Fingerprint Vector Heatmap
  • IPFS Link of Full Sense Protocol Results:
  • SHA3–256 Hash of Full Sense Protocol Results
  • …And More!

Screenshots:

Another “original” image — notice that none of the top-10 most similar images are all that similar, hence the high rareness score.
In addition to comparing the image to other images submitted to the system, Pastel also searches the internet for the image to find any matches. Search results are parsed and used to annotate the retrieved images, which are stored directly in the generated Sense report.
Here we see intentionally generated “near duplicates” created using a variety of complex transformations that greatly change the appearance of the original image, which has already been submitted to the demo site. The system correctly identifies these dupes and assigns them very low rareness scores.

Sense Map

Pastel’s Map is based on the graph of interconnections between registered images: the more similar two images are, the stronger the connection between them, and the closer they will be positioned in 3D space. This is all done automatically by our system by looking at the images themselves — no hand labeling is used!

Calling it a “map” does not do it justice. We are able to chart every NFT across the entire ecosystem and provided tangible proof of how NFTs — no matter how different they are from one another — are still connected in a multi-dimensional way. On the Demo site, users can click the “Map” link at the top right of the page where they will be transported to a multi-dimensional realm and visualize how each NFT is linked to each other.

NFTs in Sense are positioned closer together when there is a higher degree of similarity, measured using the same advanced technology that underpins the core near-duplicate detection algorithm. This notion of similarity transcends superficial pixel patterns and also gets to the semantic content of images. For example — Bored Apes are all clustered closely together, and Bored Apes with similar properties are sub-clustered together further, even though each Ape has unique properties.

As a result, we achieve a very useful “embedding” of NFT metadata in 3D space. We then apply numerous advanced graph theoretical algorithms in order to determine clusters and “cliques” of highly interconnected images.

We are in a new world where copy-paste duplicates, near-replicas, and outright scams can no longer slip past unnoticed — we have create peace of mind in the NFT ecosystem. Sense Map offers users the ability to visualize the entire NFT ecosystem and how Sense uses this information to determine the relative rareness for every candidate NFT.

Why we built Sense Demo?

We are firm proponents of “see to believe” particularly in the field of cutting-edge technology. Our Sense Protocol is groundbreaking—but we understand it can be hard to ‘conceptualize.’ Hence, we built the Sense Demo to give our users a tangible tool of just exactly what we have built.

To go even further in proving the power and magnitude of Sense, we included functionality to allow users to upload their own NFT data. Reach out to the team for an invite code to try it out for yourself!

Just a taste of what is to come…

We are not stopping with Sense Demo. Years of research, development, iterations, and tinkering has led us to where we are now. The world is about to experience the true, untarnished vision of Pastel — a better NFT world for creators, collectors, and builders.

A new product launch will be coming soon, powered by core Pastel technology like Sense. And it will change the game for the NFT ecosystem.

Explore Sense Demo (LINK BELOW)

Check out and explore this new world here (please contact us for an invite code). Or, at the link below:

Sense Demo: https://sensedemo.pastel.network/

About Pastel Network

Pastel Network is a fully decentralized, developer-friendly layer-1 blockchain serving as the preeminent protocol standard for non-fungible tokens (“NFTs”) and Web3 technology.

Pastel allows for the development of third-party decentralized-applications (“DApps”) to sit on top of its Network, enabling developers to enjoy the scalable registration features, storage processes, and security of the broader ecosystem. Lightweight protocols such as Sense — which was built to assess the relative rareness of a given NFT against near-duplicate metadata — and Cascade — which conducts permanent, distributed storage of underlying NFT data — can be integrated cross-chain across various layer-1 blockchains, layer-2 protocols, or other third-party apps.

Pastel is managed by world-class developers, cryptographers, and technologists, supported alongside an experienced and extensive network of marketers, influencers, and third-party agencies. Pastel is backed by key stakeholders including Innovating Capital, a prominent venture fund.

This article was first published by our team here.

Guide to CryptoPunks: Are They “Digital Antiques”

Posted on by Pastel Network

CryptoPunks are collectible ERC-721 tokens hosted on the Ethereum Blockchain and stimulated the “profile picture” NFT movement. CryptoPunks was among the first NFT collections from Larva Labs and laid the groundwork for upcoming NFT projects.

What is a CryptoPunk?

A CryptoPunk is a 24*24 pixel, 8-bit, punky-looking NFT art image. CryptoPunks are algorithmically generated and are unique, unalterable, and have no chance of complete similarity to one another.

The project was officially introduced in June 2017; 10,000 CryptoPunks were created by Larva Labs, and 9,000 CryptoPunks were offered free to claim by early cryptocurrency users.

The remaining 1,000 CryptoPunks, termed DevPunks, are numbered between 1 and 1000. These are rare punks tend to be priced higher than the others. Most CryptoPunks sell between $350,000 and $500,000 while there are some that are being sold for millions.

CryptoPunks are available to be bought and sold on third-party marketplaces such as OpenSea, Rarible, etc. Some punks are also auctioned at these marketplaces. 

Why Buy CryptoPunks

The price of the CryptoPunk collection rose exponentially around Aug 2021. With a floor price starting around under $100 and skyrocketing to millions in April 2022. Many view CryptoPunks as “digital antiques” of sorts, the “storage of value” of which is currently being determined by markets throughout the course of history.

How to Recognize a Punk

Punks are divided into five general categories: 6039 male punks, 3840 female punks, 88 Zombie punks, 24 Apes, and 9 Aliens. The rare avatars are naturally more costly.

Further, these punks can have a combination of 87 attributes. You could buy a Beanie, Choker, Pilot Helmet, Tiara, Buck Teeth, Welding Goggles, Pig Tails, Rosy Cheeks, Cowboy hat punk, etc., depending on the type of hat, glasses, hair, race, or the skin color it has.

There are 4501 punks with any of the three attributes mentioned above, 3560 with two attributes, 1420 with four of these attributes, 333 with just one attribute, 166 with five attributes, 11 with six attributes, and eight punks with no attributes at all.

Does the Punk Background Mean Anything?

Yes, it does!

The punks on the blue background have no bids and are not for sale. Punks with a red background are available for purchase, while punks with purple background are auctionable and have an active bid on them. Punks in the green background are wrapped punks sold on different NFT marketplaces.

You can join the Discord chat for live announcements related to the sale and purchase of CryptoPunks, which also has a bot announcing all sales, offers, and bids in real-time.

Learn a Bit About the Statistics

The total lifetime sales volume for Cryptopunks as of March 2022 is $2 Billion, whereas $75.24 million were spent in February 2022. The lowest price of an available punk as of April 2022 is 68 ETH, or approximately US $236,636.60. The highest sale of CryptoPunk in Feb 2022 was that of an alien punk with a blue hat costing $23.7 million.

A person can buy more than one punk, too; the maximum number of punks owned by a single owner as of date is around 400.

How to Buy a Punk

You can check the profile page of each punk on the Larva Labs website to see details on their attributes. You can check the current market status of the punk to see who owns it, if it is on sale, and the owner’s expected price. If current bids are going on the punk, you can check it from the profile page.

The complete transaction history of the punk can be viewed on this page.

Once you decide on which punk to buy, you can follow the following steps to buy a punk:

  • Download a Web-3 wallet such as Metamask
  • Buy Ether from exchanges such as Coinbase
  • Install the wallet plugin on the Metamask website, and you will find options to bid, sell, and buy punks.

Remember, you should have wrapped versions to sell them on third-party marketplaces. For details on how to wrap your CryptoPunks, you can visit here. There are no fees charged on CryptoPunk transactions except for the gas fees charged on every transaction on the Ethereum Blockchain.

Do You Wish to Create your Own CryptoPunk?

The original collection of CryptoPunks is fixed and cannot be minted. 

However, some take to creating “clone” CryptoPunks through any marketplaces that allow creating your own NFTs. All you need is to have the required amount of Ethereum tokens in your wallet.

However, these “clone” punks are essentially worthless, and provably so since the ownership of the authentic punks can be verified on the blockchain.

About the Team

The project is the brainchild of John Watkinson and Matt Hall, co-founders of a creative technology company called Larva Labs. Larva Labs is also behind other popular Blockchain projects: Meebits, an NFT collection of 3D characters, and Autoglyphs, a generative art form.

Besides these, they are also involved in Web and Mobile technology. The only web project from Larva Labs was done with Google and was called Github Data Visualization using Flutter Web. Flutter is a development framework aimed to change the app development process. 

The mobile projects from the team include:

  • Road Trip, an endless driving game
  • Boo, an android app for face detection and animation
  • AppChat, a chatroom for the Android apps
  • FlowHome, an Android launcher that organizes social network notifications and system notifications creatively on the phone
  • BreathPacer, a breathing trainer app for iPhone with sound and animations
  • Androidify, personalizing the Android logo into self or friends’ avatars, etc. 

Final Thoughts: What’s the Latest on CryptoPunks?

US-based Yuga Labs acquired the intellectual property rights of CryptoPunks and Meebits in March 2022. They plan to give commercial rights to both communities. Until now, punk owners could only reproduce, transmit, distribute, and display their punk images. Now, they might be able to modify and sell third-party products with them.  

Yuga Labs is the creator of another popular NFT collection called Bored Apes Yacht Club (BAYC) and the associated collection Mutant Apes Yacht Club (MAYC), launched in 2021. These collections are unique in that they gave full IP rights to the owners. 

Yuga Labs immediately granted all CryptoPunks holders full commercial rights to their Punks.

How to Get Free NFTs That May Gain in Value

Posted on by Pastel Network

It’s June 2017. CryptoPunks — digital art pieces from what will become one of the most revered and valuable NFT collections that have just been launched and are being claimed for free by Ethereum users. 

Fast forward to 2022 and CryptoPunk #5822, a light blue alien punk with a bandana tied onto its head, is sold for $23.7M.

 It would be a dream come true for most people to ‌travel back in time to ’17 and claim one of those Punks for free. Claiming potentially valuable NFTs for free is a widespread online practice, but is it all it’s cracked up to be?

Can you actually get free NFTs that may gain value?

Let’s explore four good ways to get one online.

Get Free NFTs Via Play-To-Earn Games:

NFT gaming revolves around players earning NFTs that have actual value while having fun. Play-To-Earn (P2E) games help encourage people to buy and trade blockchain assets. Many P2E games run on the WAX blockchain and projects give users free NFTs to promote activity. 

If you’re not opposed to a bit of competition, you can earn free NFTs by playing games like Splinterlands and The Sandbox. These games allow players to win in-game items that can be sold for cryptocurrency by participating in daily quests or tournaments. 

Most NFT games have a booming marketplace where other players buy or trade in-game items. A game NFT may not be the next CryptoPunk, but it could grow to be of actual worth. 

There are several great NFT games to choose from, so it should be reasonably easy to find an NFT game that interests you. Besides free NFTs, NFT gamers can also earn cryptocurrency.

NFT Giveaways: 

Several NFT projects use giveaways to boost engagement or awareness for their project or express gratitude for their community’s support. These giveaways are most common on Twitter and Discord servers.

Following a project or an NFT influencer on Twitter is a good idea if you want to be aware of giveaways. You may be asked to retweet a post, share your ETH address, or follow specific accounts to win a giveaway. The winners are often chosen using a Twitter picker tool at random.

The downside to Twitter giveaways is that you may come across giveaway scams, where the Twitter user or project is using their giveaway post to gain followers without actually intending to gift an NFT. Do proper research on the user or project, so you don’t waste time and effort on these scam tweets. 

Another great way to get free NFTs is through giveaways in Discord communities. Projects trying to support their community may gift an NFT to a lucky member or have a process through which members can gain an NFT. To have access to these sorts of giveaways, you’ll have to be a member of the project’s Discord server. 

Just like on Twitter, some giveaways on Discord groups choose winners randomly. Projects may also make their Discord giveaways exclusive to members who already own their NFTs. 

NFT Airdrops 

Fractal, a popular NFT project based on Solana, recently airdropped 100,000 NFTs to members who registered. Several other projects are airdropping free NFTs, as airdrops are a common way projects raise awareness of their coin or NFT. 

All you have to do after finding an NFT airdrop is follow the process to register for the drop. Once it occurs, you’ll receive a token in your wallet. Enjin, a popular blockchain platform, sends free NFT airdrops randomly for users to claim. Free to Mint 

NFT projects also create free to mint tokens or free mints to boost interest in their projects. 

Free mints are NFTs you can claim without paying a minting fee to get the NFT. You’d still have to pay gas fees, which may be cheap or expensive depending on the project’s network. For example, Ethereum gas fees are costly compared to Near or Solana gas fees.

Security Tips

NFT airdrops, P2E games, giveaways, or free mints are all great ways to get a free NFT that may gain in value, but you should stay aware of possible scam projects or phishing attacks. 

Projects with free mints sometimes get hacked right before mint and there have been situations where user’s wallets were drained of funds after connecting their wallets to malicious links. If you’re interested in getting free NFTs, you should:

  • Always do your research. 
  • Avoid clicking on any link sent by a stranger to your DMs on Discord.
  • Do not rush to connect your wallets to mint an NFT until after a reasonable time. Some free mints last for hours or days, so you can usually wait to ensure  other collectors are claiming their free mints successfully. 
  • Keep in mind that no project admin would DM you to participate in a giveaway or free mint . 
  • Never give your seed phrase to anyone. 
  • Be part of an Alpha community. Alpha communities are the perfect place to get information on upcoming NFT Projects. 

Final Thoughts: Getting NFTs That May Gain In Value

Free NFTs are not hard to come by, but what sort of NFT you claim matters. If you want to get a free NFT that may gain exponentially in value, you  need to do your research.

You can learn about an NFT project from its whitepaper, Discord community and social posts. Most projects also publish updates on their timeline, growth or plans on a blog. It’s a good sign when a project offering giveaways or airdrops has:

  • A strong team. You should be able to find the person or people who are building the NFT project.
  • A clear vision or roadmap.
  • A growing community.
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