What is this …?
The JPEG TRASH BIN is a tax loss harvesting tool built with ❤️ by Hashes DAO. It allows investors to sell their illiquid NFTs (non-fungible tokens) for a fixed price of 100 Wei.
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How does the JPEG TRASH BIN work?
To use the JPEG TRASH BIN, you can use OpenSea to send single NFTs to jpegtrashbin.eth / jpgbin.eth or use our dApp at www.jpegtrashbin.xyz to bundle multiple NFTs into one transaction. The NFT will be sold for 100 Wei, and the realized loss can be used to offset capital gains from other investments.
Does it work with ERC155 and ERC721?
The system is compatible with both the ERC155 and ERC721 standards. However, it should be noted that when selling multiples of the same ID from an ERC1155 collection, you will receive 100 Wei in total for that ID, not for each individual token.
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Has the Contract been audited?
Yes it was audited by the team at PopBlocks. https://www.popblocks.org. The Contract is verified on Etherscan and can be found here:
0xf43a8dd18bf488825cae7e8b5a8693e3423fe4f5
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Are there any limits when using the Contract?
Yes, there are limits when using the contract. For ERC1155, the limit is 100 NFTs per ID, with a maximum of 100 different IDs. For ERC721, the limit is 100 individual NFTs. These limits are in place to ensure the efficient and smooth operation of the contract.
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When will the NFTs be available for purchase again?
After an NFT has been sold to the JPEG TRASH BIN, it will be available for everyone to purchase again after 20,000 Ethereum blocks, which is roughly equivalent to three days.
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What is the price of the NFTs when they are made available?
The NFTs that are sold to the JPEG TRASH BIN will be available for everyone to purchase at a fixed price of 0.02 ETH each. However holders of HASH NFTs receive a 25% discount, and DAO HASH holders receive a 75% discount.
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Is the JPEG TRASH BIN right for me?
The JPEG TRASH BIN can be a useful tool for investors who want to take advantage of tax loss harvesting. However, it’s important to consider the potential risks and benefits before making any decisions.
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What is Hashes?
Hashes is a new NFT building block and a DAO in one. A Hash is an NFT, a distribution mechanism, a source of entropy, and the first 1000 have a vote in the DAO. More information can be found at https://thehashes.xyz/about
How can I obtain a HASH or DAO HASH NFT?
HASH NFTs can be minted on the Hashes website at https://thehashes.xyz/. They can also be purchased on NFT marketplaces such as OpenSea at https://opensea.io/collection/hashes. DAO Hashes are part of the same collection and can only be purchased on the secondary market. They can be identified by the metadata attribute “Type: DAO”.
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How to connect?
Hashes Discord: https://discord.gg/k9VDGjbr7d
Hashes Website: https://thehashes.xyz/
Twitter: https://twitter.com/HashesDAO / https://twitter.com/jpgtrashbin
