|crypto art||Hashmasks||Suum Cuique Labs|
The NFT market has been incredibly hyped about the launch of Hashmasks, a digital art collectible that sold 16.381 artworks in one week. Suum Cuique Labs from Switzerland made more than 10 thousand ETH, or 14.3 million dollars, with their digital collectibles. These masks are now only available on the secondary market.
When the Hashmasks reached the final stages of their sale, the masks were revealed. This didn’t go as smooth as planned, but all was done when the entire project synched up with the blockchain. Now all buyers can see their masks. Currently there are 3308 different HM token holders.
The current floor price for these collectibles is 1 ETH, even though some auctioned items are still below that. The most expensive ones have been listed for 20 ETH or a lot more. These Hashmasks have a very clean background or for example one with written text on it.
Haskmasks really gained lots of traction over the weekend. Even though Hashmasks just sold out, the secondary market already has seen quite some activity. The project is number one on Opensea with 2690.99 ETH in trading volume over the past seven days. That’s one thousand ETH more than CryptoPunks.
NCT Tokens for Naming
Owners of a mask accumulate ten NCT tokens on a daily basis. These tokens allows them to change the name of the artwork. However, they will need 1830 NCT to do this. Everybody who bought a mask during the primary sale, receives enough tokens to make a name change. However, those who buy on the secondary market will need to buy NCT tokens or accumulate them buy waiting approximately six months.
The developers distribute NCT tokens on a daily basis to users who own a mask. This distribution phase will end in approximately ten years. When all masks have been named and the NCT tokens have been burned, the art project can be considered finished.
What’s valuable in Hashmasks?
Hashmasks is an art project that offers a collection of 16.384 different masks. The true distribution of attributes will be revealed when the initial sale period ends in two weeks. However, the creators have provided a couple of characteristics that influence value. For example, men are much more common than robots. In addition some characters are holding an item, while others wear a mask. The Hashmasks collectibles also have different eye and skin colors, but on top of that there are hidden treats.
When we’re talking about masks, there are 14 different types of masks and the animal mask is worn by 12.5 percent of all collectibles. The pixel mask is only worn by 5.9 percent, while there are only 13 unicorn masks. There are much more varieties, including backgrounds, shirts, hairstyles and colors. The creators emphasize that the most important aspect of rarity, is the fact that owners can change the name.
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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.