WTF is HASHMASKS
Ok, so we have come to rare digital assets investment…which seems to be endemic to bull markets (somebody in the house remembers 2017’s Kryptokitties?)
So, what is Hashmasks on average (non crypto related) Joe words:
“A kind of digital collectible which on a certain way resembles to a Basquiat portrait”
Why does it matter/why should I care? — because it is the last frenzy trending thing in the digital assets investment world, meaning, it has proven to be moving a lot of money in a short period of time.
Just to put down some facts/numbers:
- All the collection has been sold out in less than a week
- Cheapest pieces at 0,1ETH~=USD125 (at the time) and the latest ones at 100ETH~=USD140,000 (yep, I know…my mouth is open as well…)
- Fun fact — you don´t know exactly what you have bought. Although all the pieces have been generated already, they are being distributed on sequence which starts at a random point after the sale has been completed
- There are exactly 16,384 pieces. Each piece is unique… but some are “rarer” than others — short explanation: each piece have some “details” which makes them unique, some of those “details” are scarce and the combination between them makes them….well “rarer”
- It is an economic theory game as well; how so? Each piece has a name, which can be changed a limited amount of times, for changing the name you have to pay (of course) and you have to pay using a token called NCT, aka (-inhale- ) Name Changing Token (- exhale-…)
- Each piece/hasmask is allocated 3,660NCTs per year, changing the name costs 1,830NCTs. At the time of issuance each piece is awarded with 1,830NCTs
- Fun Fact 2- current NCT market exchange rate ~= USD 0,315 ; so the first that bought paid aprox. USD125 and got at the same time almost USD580… + the market price of the piece…
- Fun Fact 3- hashmask 1# was already resold for 100ETH (aprox. USD 135,000 at the time of closing) even it has not being allocated yet (the buyer doesn`t know the “rareness” of the piece yet)
Personal opinion:
From an artistic POV I don’t dislike them… would I pay 140 grand to get one?…Nop (unless I am expecting to resale it at 180), but valuing collectables is extremely difficult as it is bound to subjective perceptions. Just ask someone in Dubai how much is willing to pay for a car plate numbered 111 and make that very same question to someone in France…
I’m not judging, but for what is worth, I do think that it is a clear sign of buoyant market (there are more money to play around/spend)
Whether you like it or not, there is a digital world out there which should not be overlooked and at the end of the day this is just a economic-game-theory application of principles such as scarcity, inherent value and opportunistic demand…
Conclusion, NFTs (which is what both Kryptokitties and Hasmasks are) are definitely a thing, and it is worth keeping an eye on them. It is a nascent market, and if you are wondering, “what the hell can I do with that thing?” let me tell you that there are already places where you can use them as collateral to get a loan, there are derivatives markets, OFC there are market places to trade them P2P instantly… and pretty much you can do anything that can be done with a digital asset taking advantage of it’s friction-less transferability
So, as crazy as it may sound, and trust me… I do not mean to be endorsing the project in any way by saying this… As an experimental asset class Hashmask is showing lots of the things which makes investing on digital assets fascinating (although weird sometimes)
