Memphis Mural Charging Up Children’s Charity
An Supercharged “EnDAOment” Capsule
If Walls Could Talk…
The mural on the side of Memphis Merchants Exchange building contains a secret — there is over $100k inside and counting. But before you go stripping off the paint looking for gold bricks, know that the value is locked virtually beyond reach.
The mural contains $100k of Aave USDC, powered by Charged Particles, with interest generated inside going to St. Jude Children’s Research Hospital via The Giving Block. As a lossless charitable mechanism, this is truly a gift that keeps giving.
“The illustration was based sort of off a personal piece,” Roy said. “You see yourself in context to your problems but make your problems seem smaller. I drew a character growing to be larger than these obstacles or fixations.”
An Epic “EnDAOment”
The mural was originally an illustration done by local Memphis artist Michael “Birdcap” Roy and was purchased online as an NFT, by Sardor Umarov, owner of the Exchange Building, who has gone on to endow the NFT with a healthy donation. Umorov is also organizer for the local Memphis Blockchain meetup, and so intends the mural to also teach the community about emerging technologies.
“This mural NFT is a way to engage the community to show them what’s possible with new technology,” Exchange Building owner, Sardor Umarov said.
From Gravel to Gold
After the empty gravel lot next to the Exchange Building being held up in legal issues for several years, Umarov received a $100,000 grant to beautify the lot or assist with the transfer of the lot to the city.
Therefore, after purchasing the NFT, Umarov offered Roy a wall of Downtown’s Exchange Building, to turn the illustration into a mural, before charging it up with $100k aUSDC.
“We wanted to raise awareness about the gravel lot, so we converted the $100,000 to stablecoins which are USDC, U.S. (digital) coins (a form of cryptocurrency), which would then be used on a centralized or decentralized exchange to accrue interest,” Umarov said. “That interest, over time, will be donated every three, six or nine months to St. Jude cryptographically.”
Donations by POAPular vote
Visitors to the mural will be able to claim a proof of attendance protocol NFT or POAP. These POAPs act as a voting mechanism for where the interest accrued should be donated, making this a community democratic donation mechanism.
People can either tap the RFID tag at the bottom of the mural with their mobile phones to directly donate to St. Jude, or they can take a photo of the mural and tag the Exchange Building on Twitter for their vote to be manually counted.
“This POAP will be a way to signal or to vote what charity we give the donation to next time,” Umarov said. “The default will be St. Jude, but in about a year, people may decide to give money to the Mid-South Food Bank or another organization.”
“(Umarov) gave me this really incredible opportunity to do a large wall and do one that’s of my work without too much committee or editing process,” Roy said. “I was very touched, and if he wants to gadgetize the mural and money goes to St. Jude, that’s super cool.”
At Charged Particles, we’re excited to see this generous community charitable project in action, and proud that it rides upon our protocol.
We’re also thrilled to read the writing on the wall for a new use case of Charged Particles: “EnDAOment Capsules”.
Subscribe to our newsletter to get the most up-to-date DeFi news and resources.
About Charged Particles
Charged Particles is a protocol that allows users to deposit ERC-20, ERC-721, and ERC-1155 tokens into NFTs. A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens. The Principal amount can be time-locked inside the NFT, and through integration with Aave’s aTokens, the programmable yield from these DeFi yield-generating assets is just a few clicks away.
Endless applications of DeFi NFTs!
✅ “Genergizable” PFPs | ✅ DAO Capsules | ✅ Vesting Capsules | ✅ Escrow Capsules | ✅ NFT Trust Accounts | ✅ Gift Baskets | ✅ Improved NFT Index Funds | ✅ Financially Appreciating Artworks | ✅ Nested Bundles of Artworks | ✅ Redemption Tickets | ✅ Creative Crowd-funding Campaigns | ✅ Company Token Promos