All the answers to your WEB3 and Regen questions.
What are NFTs?

NFTs are “non-fungible tokens.” Non-fungible means non-interchangeable or not equal in value. For example, my $1 USD is equal to your $1 USD. They are fungible or interchangeable, so I can swap my 1 USD for yours and walk away with the same value I had before. Contrarily, NFTs are unique, one-of-a-kind digital assets that people can create, buy, sell, or use to access a particular utility or offering. NFTs can function like secure membership ID cards, offering collectors access to exclusive offerings like community, online or in-person events and opportunities to collaborate, co-create, and build wealth. One’s purchase of an NFT is immutable - or unchangeable - because the transaction of it is documented on a distributed, public ledger.

What is crypto?

Cryptocurrency is digital currency - a.k.a. virtual, digitized, or tokenized currency, coins, or tokens - exchanged on a decentralized computer network that does not rely on a central government, bank, or regulating authority to operate. Cryptocurrency transactions occur on a distributed ledger where data is replicated, shared, and synchronized - geographically spread across multiple sites, countries, or institutions - making it nearly impossible to counterfeit or double-spend - therefore, increasing transparency and trust. You may be familiar with some popular cryptocurrencies like Bitcoin and Ethereum, however there are thousands of different cryptocurrencies in circulation with different purposes and functions. The advantages of cryptocurrencies include cheaper and faster transfers of funds, and with just wifi and a mobile device any person or group around the world can launch digital currencies to build and fuel their ecosystems and economies. The disadvantages of cryptocurrencies can include their price volatility, the energy consumption that is required by some, and their use for criminal activity by some.

What is blockchain?

Two words are often used to define blockchains - distributed and decentralized. Blockchain is a distributed database that is shared among nodes spread across multiple computers in multiple locations - not centrally owned by any company or entity.

The modern world is run by vast computer networks that manage data, ownership, permissions, and more. Up until early 2009, most database architectures were centralized (with organizations owning entire networks and all of the data accrued through its users activity). These organizations pay for the networks, servers, and energy required to run the networks, i.e. Verizon, Google, Microsoft, the state university system, private companies, or telecom industries.  We’re able to use Gmail and Outlook for free because Google and Microsoft cover the costs of managing the databases and running the servers that move data, i.e. sending emails. They recoup these expenses by selling the data collected from their users to advertisers who use the data to target and sell their own products and services to consumers.

Blockchain represents a shift from centralized to decentralized ownership and management. Blockchain architectures on distributed ledger systems are best known for their utilization by cryptocurrencies - digital assets sent to people’s wallets when a particular system solves a cryptographic equation that verifies transactions.

The innovation of blockchain architectures has evolved and expanded to provide a viable alternative to centralized systems as decentralized currencies are not regulated by the control mechanisms of centralized, government-backed currencies, or today’s fiat economies.

The Decentralization of systems has sparked a new explosion of organizational models that touch almost every area of our networked world - payments, data, entertainment, education, governance, and so much more.

What are smart contracts?

Smart contracts are computer programs or protocols stored on a blockchain that run when predetermined conditions are met. They are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement. Put simply, smart contracts uphold agreements automatically - thereby simplifying business and trade between anonymous or identified parties, without the need for a middleman - lessening the formality and costs associated with traditional methods of exchange, without compromising authenticity and credibility.

What are DAOs?

A DAO is a decentralized autonomous organization that decides collectively its purpose and how it will govern itself to actualize its goals. Decentralization means distributed or delegated away from a central, authoritative location or group. Rather than a hierarchical structure with a boss or a few people at the top making decisions, controlling assets, or deciding what information to make transparent to the rest of the organization, members of a DAO program software to automate or trigger actions (such as sending payments) based on the community’s governance model, structure for collaboration, or how members make decisions together (i.e. making proposals and voting to pass them, or not, with factors like quorum and consensus affecting voting outcomes). Quorum refers to the percentage of people in the community that need to vote for a proposal to be up for passing and consensus refers to the percentage of people that have to agree to a proposal for it to pass.

What are tokenomics?

Tokenomics combines the words token and economics - describing the economics, math, mechanics, incentives, and other forces governing and affecting cryptocurrency assets and their value. Cryptocurrencies are digital currencies that enable secure online payments without the need for any centralized third-party intermediaries. "Crypto" refers to the cryptographic algorithms that safeguard these entries and are designed to automate transactions when agreements are met.

How is crypto environmentally harmful & how can we lessen its energy consumption?

Crypto’s mining process - how digital coins are created - requires power and electricity. The average Bitcoin transaction consumes over 1,700 kWh of electricity, which is almost twice the monthly amount used by the average U.S. home. Co-locating bitcoin mining operations with zero-carbon resources, such as nuclear, hydro, wind and solar, could reduce the carbon emissions accrued with mining. For example, Paraguay has an energy supply based almost 100% on hydroelectric sources. This means bitcoins mined there have a lower carbon footprint than bitcoin mined in nations dependent on fossil fuel.

What is a crypto wallet?

If you’re investing in cryptocurrency you’ll need a wallet or several. Cryptocurrency wallets are programs that allow collectors to store public and/or private keys for cryptocurrency transactions, which are similar to passwords used to sign transactions or prove ownership of a blockchain address. Cryptocurrency wallets can be used to send, receive, and spend cryptocurrencies, and can offer encryption or signing functionalities to increase security.

Crypto wallets can also store digital collectibles or assets like NFTs that you can buy, sell, trade, or transfer to someone else or another wallet you own. Because they’re typically decentralized you control the account and you are responsible for what’s in the wallet and managing it, as well as your password or secret phrase that unlocks the wallet.

Some NFT marketplaces operate on a particular blockchain, so the crypto wallet you choose will have to connect to the marketplace selling the NFT you’re interested in purchasing. For example, OpenSea supports Ethereum and Polygon blockchains and the crypto wallet, Metamask, can be used to buy, sell, and store NFTs purchased on OpenSea.Some wallets are intended for use on desktop computers as a browser extension.

How to increase your crypto wallet’s security?

To increase the security of your crypto or NFTs, you might want to acquire a hardware crypto wallet, which can come in the form of a USB stick that you can disconnect from your computer system (and the internet) for added security.

Cryptocurrency exchanges and wallets can get hacked, so it’s important to choose a wallet or an exchange that is trusted and has a good track record.

What is a crypto exchange?

A cryptocurrency exchange is a website or service where you can sell or buy digital currency or convert fiat currency like US dollars into digital currency. Fiat currency is not pegged to the price of a commodity such as gold or silver. Its value is based on the public's faith in the currency's issuer, like a country's government, and the economic strength of that country. The US dollar and the euro are examples of fiat currencies.

How to set up and use a crypto wallet? 

Regarding installation and setup, some wallets like Metamask can be downloaded as a mobile app or they can be set up as a browser extension, a software module that customizes a web browser with certain features or functions. You’ll need to create a password and a “seed phrase,” or a string of words that can be used to recover your wallet if you forget your password. Make sure to keep track of your seed phrase by writing it down on a piece of paper and putting it somewhere safe, or pasting it into an encrypted file on a thumb drive, or emailing it to yourself.

Multi-signature wallets (“multi-sig” for short) require two or more private keys in order to make a transaction, making it harder for someone to hack your wallet.Once your wallet is set up, you’ll want to add funds to it. If you have cryptocurrency in a stock trading account or crypto exchange, you can transfer those funds to your wallet. Some wallets allow you to buy or swap one cryptocurrency for another directly within your wallet for a fee.

To avoid drawing money from your regular bank account repeatedly to purchase or facilitate crypto transactions, you can purchase USDC, a stablecoin that remains at a 1:1 ratio with the US dollar, so you can exchange US dollars for USDC, and then use the USDC to acquire other cryptocurrencies.

Every crypto wallet is assigned a unique blockchain address. You can go into your wallet and copy and share the 25 to 30-character string and send it to someone so they can send you cryptocurrency, NFTs, or grant you (or your web browser where your wallet is connected) access to tools, software, or websites that require you to have a cryptocurrency wallet to access information.

Some services may ask for a private key address instead of a wallet address in order for you to make a purchase. Some websites have a button that allows you to connect your wallet attached to your browser to the site for making bids on NFTs or investing in tokens.

What are gas fees?

Different blockchains have different transaction fees. Ethereum is notorious for large “gas fees” that are paid to the crypto miners who help make these transactions happen. It’s not uncommon for someone to end up spending more in gas fees than the amount of crypto they were intending to spend.

Gas fees do not have anything to do with liquid fuel consumption. Gas fees are the transaction fees that users pay to miners - rewarding them for their work to support the execution of transactions on the blockchain. The system works on a standard supply and demand mechanism, which means when an increased number of users are bidding on a limited number of space per block the fees go up. Blocks are data structures within the blockchain database where transaction data are permanently recorded. A block records transactions that are not yet validated by the network. Once the data is validated, the block is closed and cannot be changed.

What’s a burner wallet? 

A common practice is creating a “burner wallet” or a temporary second wallet used for a single transaction if you’re worried that minting (or creating a unique NFT) may expose you to hackers. A burner wallet ensures that only the funds in that wallet are at risk, not all the funds you may have in your primary wallet.

You can use a burner wallet to buy an NFT, and transfer it and any remaining funds to your main wallet.  Once the transaction is complete, you can delete your burner wallet. You can also spread your cryptocurrency across different wallets to not have all your digital currency in one wallet.

To keep your crypto safe, limit what sites you connect your wallet to and with whom you share your wallet address or private key.

What's the difference between a custodial and a non custodial wallet? 

Custodial wallets are wallet services offered by a centralized business like a cryptocurrency exchange, requiring less user responsibility or private key management. In custodial wallets, your private key is held by a third party, such as PayPal, which allows you to buy a coin or fractions of a coin and store them on their servers.

In non-custodial wallets, users are responsible and in control of their assets and their private keys - stored directly on their device and not within a centralized exchange. If someone gets access to your private key, they can infiltrate your wallet and steal your crypto.

What is metamask?

MetaMask is the most popular cryptocurrency wallet with over 21 million monthly active users available as a smartphone app or web browser extension. MetaMask gives its users an Ethereum address where you can store ETH and NFTs. You can download it directly onto your phone or to Google Chrome, Firefox, Brave or Edge browsers. Metamask wallets are permanently connected to the internet so users can move crypto assets around at any time so long as they have wifi.

What is crypto mining?

Mining is done to generate new coins and to verify new transactions. It involves decentralized computer networks verifying and securing blockchains – the ledgers that document crypto transactions.

For example, Bitcoin mining is the process by which bitcoins are created and new transactions are verified. "Mining" bitcoin involves hardware solving a computational math problem and the first computer to find the solution receives the next block of bitcoins.

Miners receive rewards for their work with tokens which motivates people to assist in the process of legitimizing and monitoring transactions. Because many users around the world share this responsibility, there is no central authority overseeing its regulation. To mine, you need either a graphics processing unit (GPU) or an application-specific integrated circuit (ASIC) to set up a mining rig.

Are NFTs legal? What does it mean for crypto to be treated like a security? 

There’s nothing illegal about buying, owning, and selling non-fungible tokens so long as your NFTs are not securities offering or solicitations to invest. Transactions conducted on blockchain offer greater privacy. The nodes of a crypto transaction are located in different jurisdictions and the “residence country” for cryptocurrency software is difficult to determine due to the ledger’s lack of a physical location. Blockchain’s transnational nature or cross-border reach makes determining applicable laws and selecting the correct jurisdiction for disputes exceedingly difficult.

Crypto assets that are securities are subject to reporting, whereas crypto assets that are not securities are not subject to those requirements. “Digitized '' securities recorded on a distributed ledger or blockchain does not alter their status as securities.

The attitude of the U.S. Securities and Exchange Commission (The SEC) has been that it’s up to market participants to decide whether a particular crypto asset is a “security.” They have ruled the two largest cryptocurrencies, Bitcoin ($1.2 Trillion) and Ethereum ($533 billion), to not be securities, partly because they are decentralized.

Cryptos are treated like securities when:

(1) there is an investment of money (fiat like US dollars or crypto)

(2) there is an expectation of gaining profits from the investment;

(3) money is invested in a common enterprise

(4) profit comes from the efforts of a third party, like a promoter or marketer

A common enterprise is an entity where the profits of the investor are combined with the efforts of others and all investors have an equal right to benefit from the undertaking.

Digital assets are less likely to be treated as securities when:

(1) The distributed ledger network and digital assets are operational.

(2) Holders of the digital asset are immediately able to use it for its intended functionality

(3) The digital assets are designed to meet the needs of its users, rather than to feed speculation

(4) Prospects for appreciation are limited so a purchaser is not expected to hold the digital asset for an extended period of time as an investment

(5) It can be used to make payments in a wide variety of contexts and act like a substitute for fiat.

(6) The digital asset is marketed to emphasize its functionality, and not the potential for the increase in market value

(7) Purchasers have the ability to use the network and the asset for its intended functionality.

(8) Restrictions on the asset’s transferability are consistent with its use and not facilitating a speculative market.

How can a piece of digital art be unique? Can’t someone just make a copy or take a screenshot? 

While tokenizing a digital piece of art work doesn't prevent it from being downloaded or copied, it can ensure there is only one original and that original is assigned to one person or one crypto wallet. Furthermore, smart contracts can be coded to provide value or put limitations on the use of an NFT. Your NFT art can be copied and shared by anyone with a web browser or phone who finds it, but that doesn’t mean your original artwork isn’t unique.

To offer a metaphor, an original piece of art can be priceless and a museum can sell high-quality prints plus merchandise of it. The prints and swag do not reduce the value of the original, but rather they drive value to the original canvas - increasing its exposure. What makes NFT art unique is its one-of-a-kind identifier number or transaction ID that grants its holders exclusive access to opportunities and utilities when their ownership of their NFTs is verified.

Can my NFTs be lost or stolen?

Yes. Participate at your own risk and follow standard practices when creating your cryptocurrency wallets and storing tokens and NFTs in them. Recommendations include:

- Do not use common or recycled passwords

- Use two-factor authentication wherever possible

- Keep your private keys somewhere safe and offline

- Do not sign into any accounts using public wifi

Why crypto?

Cryptocurrency can scale beyond fiat-based systems. It’s forging the Regenerative Renaissance, or a blossoming creator economy where with just a mobile device and wifi, people around the world can leverage distributed ledger technology to facilitate trusted, immutable cryptocurrency transactions that empower decentralized communities and economies - mirroring the mycelial network that connects and feeds all life on earth.

Why NFTs?

Instead of just donating to a cause or buying a ticket to see an artist perform, now you can acquire an NFT that funds the cause, grants you access to the show, AND provides you with a digital asset that can track your participation, and increase in value per your measurable contributions to the person or community you’re supporting. For example, if you buy an NFT that grants you access to fundraiser and you volunteer at that event, the creator of your NFT can upgrade your NFT with a badge that reflect your contribution and unlocks further value for you, such as offering you a ticket to another in-person event, merchandise, access to an online course or hub for connecting with community, etc. The creator of your NFT can also “airdrop” or send additional NFTs to your crypto wallet per your measurable impact. If you are not available or interested in redeeming the value being offered by verifying this new NFT, you can sell it to make a profit. Thanks to smart contracts, when you sell your NFT, the original creator can earn a royalty fee on that sale as well as on future sales, ensuring the original creator is compensated each time the NFT is re-sold. Therefore, NFTs are a new way for people and communities or organizations to package and deliver value, and they offer NFT collectors rewards for their participation which can increase the value of their asset.

What’s Layer 1, 2, & 3?

Blockchain networks are becoming more scalable and capable of accommodating an exponentially growing number of users, transactions, and data to compete with legacy systems of payment processing. 

Blockchains have a layered architecture to facilitate this unique way of authenticating transactions.

Layer 1 (L1) refers to a base network and the underlying infrastructures that provide support for that network. It adds utility to a native blockchain to optimize its performance. Layer 1 networks have a native token that provides access to the network's resources, such as sending its cryptocurrency, minting a token, or calling a smart contract. Layer-1 blockchains can validate and finalize transactions without the need for another network

Layer 2 blockchain refers to third-party “communication protocols” that integrate with an underlying  layer 1 blockchain to improve the original blockchain's functionality - i.e.  to increase the number of transactions that can occur simultaneously and to reduce transaction costs. Layer 2 protocols transfer data in a wide area network, or between one node to another in a local area network.

Layer 3 is considered “the network layer” where routing takes place. It is made up of blockchain-based applications, such as DeFi apps, games, or distributed storage apps. Layer 3 protocols allow for network-to-network communications.

What is the Regen movement?  

The regenerative movement is all about creating circular economies that fuel regenerative ecosystems supporting mission-driven creators weaving harmony between humanity and mother Earth.

What is Regen Garden?

Regen Garden is a DAO empowering artists, impact causes, and their supporters by aiding them in their collaborative creation & adoption of NFTs. Our goal is to mainstream the adoption of NFTs that empower impact causes, artists, and their supporters with the resources to take action on their world-changing ideas. We’re providing projects with the education, tools, & support to launch NFTs with fundraising potential, utility, & the ability to reward active community members. 

Our services include:
- Advisory Services - Planning / Forecasting / Roadmap / Strategy
- Tokenomics & Utility Development (10-yr plan)
- Marketing Strategy Dev
- 2D Generative Art Dev
- Attributes, Rarity, Metadata
- Metamask & Secondary Market Integration
- Whitelist Smart Contract Dev & Deployment
- Smart Contract Dev & Deployment
- Minting Integration into Existing Website
- Membership Management & Admin Support (i.e. upgrading NFTs with badges or airdrops per collector’s measurable impact / participation)

We also provide each project with its own:
- Front-End (FE) Sitemap Layout / Information Organization
- FE Wireframe Design / Info Layout
- FE Web Dev / Website Build
- FE Deployment / Website Revisions
- FE Web Maintenance / Ownership Transfer

Why should I buy an NFT sold by Regen Garden?

Buying an NFT sold by Regen Garden is buying a digital asset that funds the impact cause using the NFTs to fundraise, compensates the artist(s) who created the pieces that represent the cause and their mission or goal, and funds the team and community participating in Regen Garden. Members of Regen Garden’s community are rewarded with the platform's native token, which they can stake to the projects fundraising on the platform. Staking tokens to projects earns members interest on their tokens and grants them governance tokens - used to make and vote on proposals that request funding from the Community DAO to drive further impact. The Community DAO manages 15% of all funds generated from the sale of Regen Garden’s NFTs. As you activate your NFTs and receive what is being offered with them by the creators, your NFTs can evolve, upgrade, and increase in value per your measurable participation, impact or contributions. Therefore, your participation, contributions, and efforts reflected by the badges on your NFTs (or by your accruing additional NFTs) and the benefits and perks unlocked accordingly can be passed onto the next buyer when you sell them, thereby increasing the potential of your return on your investment.

Where does my NFT go after I purchase it?

Your NFT is stored in your cryptocurrency wallet and you can see your transaction on this public ledger (LINK).

Why do I need to join the discord?

The discord is your go-to place for getting involved and staying up-to-date on what’s happening in the Regen Garden community. We use it to support projects and people with their NFT collection development, to answer our members’ and collectors questions, to host events, to track our ambassadors’ invites and level of activity in discord, to provide relevant links, and more! Bots integrated with our discord server help us track invites and participation which enable us to reward participants with our own native tokens, accordingly. From within our discord, you’ll also find quests that need to be picked up if you’re interested in joining the team as an ambassador or as another role, for the opportunity to earn our native tokens or an income paid with fiat currency. Our team is not earning an income yet, but we’ll let you know when that changes!

How do I access what's being offered by the cause & artist who created the NFT I purchased?

We support each project / creator with member management or managing their community of collectors (i.e. upgrading their collectors’ Ntfs and dropping their collectors additional NFTs). We set up their front end websites and discord servers that enable them to communicate with their collectors, verify the ownership of their NFTs, and unlock the value being offered by the creators.

What is the purpose of the DAO?

The purpose of our Operations DAO is to co-create a platform that aids impact causes, artists, and supporters in their collaborative creation and adoption of NFTs with utility and fundraising potential.

We aim to foster a container for collaboration and community building that is fair, transparent, decentralized, equitable, impactful, and fun! 

The Operations DAO is designed to incentive & reward those who are taking action to support the causes and artists using the platform to fundraise.  The Operations DAO decides what messaging, tools, technology, processes, and documentation are leveraged to actualize our goals, prioritizing the common good of the causes and artists being served by the platform, as well as their supporters (collectors), and our team, collectors, and strategic partners.

The Operations DAO also decides which causes & artists are supported by Regen Garden as well as the direction of the organization, who joins as a contributor and voting member, and how to allocate our time, energy, and budget to accomplish our goals and mission. 

Receiving 15% of the funds generated by Regen Garden’s NFT sales, the "Community DAO” is managed by members of the community who have earned governance tokens and funds impact initiatives within or outside Regen Garden’s ecosystem.  

Governance tokens are earned by members of the community who stake their earned $SHAR tokens to projects they wish to support. Those who stake $SHAR are also rewarded by earning back the amount they staked over time, plus interest.

How do I join the Operations DAO?

If someone wishes to join Regen Garden as a team member or ambassador, they are invited to contribute to quests that are open to community involvement. When at least one existing team member can vouch for the prospective team member’s efforts and believes they would bring value to the team, the existing member can bring forward a proposal for that new individual to join, upon which the team takes a vote.

How do I join the Community DAO?

Those making up the Community DAO are artists and causes who have made it through our creator onboarding process and have been formally onboarded to utilize Regen Garen’s platform and to work with our team to launch an NFT collection. Our NFT collectors, team members, and strategic partners are also invited to partake in the Community DAO. Community DAO members earn our own native token for their participation, which they can stake to projects that are fundraising on Regen Garden. Staking our native token earns members interest on those tokens, plus governance tokens, which they can use to make and vote on proposals for how to use the Community DAO’s funds.

How can I get involved?

Join the discord! (See FAQ: “Why do I need to join the discord?”)

Where can I connect with the team?

Join the discord! (See FAQ: “Why do I need to join the discord?”)

How do royalties work?

(diff for each collection, negotiate with each group based on contract complexity, standard of 10% royalties - mirroring same split as platform, i.e. 7% to cause & artist(s), 1.5% to community DAO, 1.5% to platform DAO)