July 2024 Community Update

For a full recap of July, see all the exciting news below!

Development Updates

SmartMint — Pastel Network Support

We’re excited to share that SmartMint will soon support minting NFTs directly on the Pastel Network, making it easier than ever for creators to bring their digital assets to life. This new feature will streamline the minting process, allowing artists and creators to leverage the unique benefits of the Pastel Network, such as decentralized storage and advanced NFT authentication, to ensure their creations are secure and unique.

Pastel Portal — Viewing NFTs minted on Pastel Network

Additionally, the Pastel Portal is being enhanced to support viewing NFTs minted on the Pastel Network. This update will provide users with a seamless experience to create, manage, and showcase their digital collections all in one place. By integrating this feature, we aim to make the Pastel ecosystem more user-friendly and accessible, enabling collectors and creators to interact with their NFTs effortlessly. Stay tuned for these upcoming features as we continue to innovate and enhance the Pastel ecosystem!

Business Development Updates

Pastel Network and LUKSO: A New Era for Secure and Rare NFTs

We’re thrilled to announce an exciting new partnership between Pastel Network and LUKSO that promises to set a new standard in the world of NFTs. This strategic collaboration brings together the robust decentralized storage capabilities of Pastel Network’s Cascade API and the sophisticated near-duplicate NFT detection of Sense’s API with LUKSO’s innovative blockchain infrastructure. By leveraging these powerful tools, developers on the LUKSO network can now create and manage NFTs with unprecedented integrity, rareness, and value.

One of the key highlights of this partnership is the integration of Cascade’s decentralized storage protocol. Unlike traditional storage methods that are vulnerable to loss and tampering, Cascade ensures the perpetual storage of NFTs across a distributed network of nodes. This decentralized approach not only enhances the security and reliability of digital assets but also aligns with the core principles of blockchain technology, promoting greater transparency and trust in the NFT market.

Another significant advantage is the incorporation of Sense’s API into the LUKSO ecosystem. Sense uses advanced algorithms to detect near-duplicate NFTs, providing an objective measure of rareness. This feature is invaluable in a market crowded with countless digital creations, as it helps creators distinguish their unique pieces and enhances their perceived value. For collectors, this means making more informed decisions when building their digital collections.

This partnership marks a significant leap forward for the NFT community, addressing key challenges faced by both creators and collectors. By combining the strengths of decentralized permanent storage and advanced rareness assessment, Pastel Network and LUKSO are paving the way for a new era of digital creativity and collection. Stay tuned for more updates as we continue to explore the limitless possibilities of this groundbreaking collaboration. You can read more about this here.

Successful Integration of PSL into the Nabox Wallet

We are thrilled to announce that PSL tokens are now supported on the Nabox wallet, marking a significant milestone for Pastel Network. Nabox, a leading multi-chain wallet known for supporting over 80 different blockchains, is the perfect partner to enhance the user experience and provide greater flexibility for managing PSL tokens.

With Nabox’s support, PSL token holders can now store and manage their tokens in a secure and user-friendly environment. Nabox’s extensive blockchain support and seamless integration make it an ideal choice for Pastel Network users. The wallet is accessible on Android, iOS, and as a Chrome extension, ensuring broad accessibility for our diverse user base.

This partnership brings numerous benefits to our users:

Enhanced Security: Nabox’s robust security features ensure the safe storage of PSL tokens.
User-Friendly Interface: The intuitive design of Nabox makes it easy to manage PSL tokens alongside other digital assets.
Multi-Chain Support: With support for over 80 blockchains, Nabox offers unparalleled flexibility in managing various digital assets within a single wallet.
Accessibility: Nabox’s availability on multiple platforms and its strong presence in the APAC region provide greater support and convenience for our users.

Looking ahead, Pastel Network and Nabox are committed to exploring further opportunities for collaboration, aiming to bring even more value to our users. We are excited about the future and remain dedicated to enhancing the ways our community interacts with and manages digital assets. You can read more about this here.

Community Updates

Last month, we were thrilled to introduce several new initiatives aimed at enhancing our community engagement and rewarding our dedicated members. One of the highlights was the launch of the “Chat to Earn” feature on our Discord server. This initiative allowed members to earn Engage Points simply by actively participating in conversations. Those who secured top spots on the leaderboard received extra points for the Pastel League campaign. We are also preparing for future rewards integration, so there’s even more to look forward to!

Moreover, we unveiled an exclusive bug bounty program, offering limited spots and a short window of opportunity for participation. This program provided a hands-on experience with the full version of our Portal, enabling users to directly interact with Pastel, manage their wallets, store files on Cascade, and even use the Inference AI chatbot.

For those new to Pastel Foundry, we launched Season 2 of our Soft Staking Rewards Program. This initiative allows members to earn PSL rewards by simply holding their tokens, with no need to lock them up. The prize pool for this season is an impressive 5M PSL, running from August 1 to August 31.

Additionally, on July 31, we had an exciting discussion with @ReneVerse_io about the future of #Web3 gaming via X Space. The session delved into the importance of incentives, content, and community in fostering a vibrant gaming culture.

As we move forward, we’re excited to continue growing our community and offering more opportunities for engagement and rewards. Stay tuned for what’s next!

About Pastel Network

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

Pastel powers layer-1 & layer-2 blockchains, decentralized applications (”dApps”), or third-party enterprises with next-generation infrastructure including NFT copymint protection, permanent data storage, and more. Lightweight protocols delivered via Web3 open APIs like Sense and Cascade can be easily integrated across existing ecosystems. A wide range of applications can be built directly on Pastel, enabling developers to enjoy the NFT primitives, composability, plug-and-play modules, and security of the broader network.

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.

For more information on Pastel Network, visit https://pastel.network/.