Hashmasks are sets of human face masks art with some different special attributes. These attributes are the physical attributes, like gender, hair, eyes, nose, mouth, color, etc A Hashmask is a digital art of these different attributes joint together randomly when it was created, like a jigsaw puzzle whose pieces can fit anywhere.
What is Hashmask NFT?
NFTs are known as Non-Fungible Tokens which are the tokens to certify the ownership of the digital assets to the consumer. These are of one kind, each of them is unique and hence can’t be replicated.
As the world of cryptocurrency is becoming famous and famous, all the assets associated with them are also getting searched upon. One of the utilities of cryptocurrencies is NFTs. NFTs can exist of anything digital including, tweets, memes, gifs, images, videos, game equipment’s, etc.
Hashmask is an NFTs of digital art and is made by the contribution of 70 artists all around the world. The total amount of Hashmasks in existence is 16384, where each of them is unique and crafted randomly and hence is unique.
Generally, the value of an NFT is determined by the predefined properties of that asset, like the age of the asset, the artists of the asset, the meaning of the asset, etc. The value appreciates over time and these predefined properties remain constant and the NFT is not modifiable. That’s where Hashmask NFTs are different from all the other traditional digital NFTs.
The USP of Hashmask NFTs is that they can be renamed with the help of an NCT (Name Change Tokens ) which can be interchanged with all the other participants of the art network. So, each time a consumer buys an NFT, the consumer can change the name of the NFT and make it more personal.
If Lebron James buys one Hashmasks NFT and renames a Hashmask now, the Hashmask cost will shoot up, cause of the personal touch Lebron has added. Similar is the case when a physical asset of someone well known will appreciate when the ownership is linked with that well-known purpose. A property owned by a star would be more costly than if it was owned by a normal purpose.
The other huge advantage of investing in an Hashmask NFTs is that it gives complete unlimited, worldwide, exclusive, license to use, copy, and display the purchased art for commercial use. Unlike other NFT arts which are always protected by the original artist and hence won’t give consumers the above-mentioned rights unless specified in the deal.
What are NCTs
NCTs stands for Name Change Tokens which are needed for the owner to change the name of the art the consumer possesses. This helps to think the line between the artists and the consumer as the consumer is also adding its personal touch by renaming the asset.
A total of 1830 NCTs are required to be burnt to rename the art. The only way for consumers to get hold of more NCTs is by holding their digital assets in exchange for 10 NCT each day. These NCTs can also be transferred from one wallet to another wallet. These NCTs will stop getting deposited at the end of this decade, that is by 26th January 2031 and then the supply of NCTs will only decrease. One day, all the NCTs will be finished but some last 1830 owned by an owner, which will increase the rarity of the Hashmask asset, and hence the asset will appreciate even more.
Origin and Story behind Hashmasks
Creators behind Hashmasks are unknown and have not given their names publicly which is ironic for an asset whose uniqueness has enhanced the cause of the unique personalized names. The 2 creators behind Hashmask before launching were in a dilemma to make this asset as a limited one or with unlimited copies, where for the sake of bringing more rarity and scarcity to the asset, the total number of Hashmasks were limited to 16384.
A bunch of artists was tried including the artist on Fiver, which charge as low as $5 for artwork to help assist in making parts of Hashmasks like the eyes, face, and color. With the careful screening of the artist and their art, a group of 70 artists was used to make the components of Hashmask.
After receiving different components of the paintings, the duo creators of the Hashmasks compiled the data, they created a whole masterpiece out of that by using an algorithm. Some 20% of the Hashmasks were made by hand also.
Explicit Rarity And Implicit Rarity :
Explicit Rarity: Its website describe explicit rarity as “To give general guidance on the hierarchy for the digital collectible art piece, the creators provide a set of explicit characteristics with differing degrees of rarity, e.g. men are much more common than robots. Unlike other collectibles, there is a second layer of scarcity imposed on top of the explicit traits via the implicit traits and the market for names”.
Implicit Rarity: Just like any art, Hashmasks are not simple to understand. They are enigmatic and can mean anything according to the consumer’s point of view. It is free for interpretations and hence can mean absolutely anything your heart desires. These traits or attributes are not explicitly accounted for. Some of these implicit traits can be the background of the art, shirts, hairstyles, and colors, etc.
Although both the traits are essential to describe the art and drive a meaning out of it, the main attribute that is generally in focus is the mask. The mask describes the overall nature of the whole art and that’s why it must have more value. Another attribute like the character also will have more significance as the number of characters in the Hashmasks will describe the rarity of it.
Hashmasks in conversations
Hashmasks are bought on the OpenSea NFT marketplace. Currently, the Hashmask which is most expensively priced is Caesars at $327,737,000,000,000,000, which frankly is overpriced. Especially because the last traded for 1.601 ethers and the offers for the Hashmasks currently is way below the last traded amount.
While these are the most viewed hashmasks currently. Hashmask titled “SEX” is the most viewed of all of them with whopping 13400 views on it. The last traded price of that Hashmask is 420 ethers. It is also the very one which was the highest sell of Hashmasks.
The Most Expensive Hashmask
Hashmasks have been so popular with their unique 2 levels of scarcity. The feature giving complete access to the art and its rights and making a personalized connection with it by naming it is what was lacking in both the traditional and NFT markets. So, during the launch of Hashmasks, it was well accepted by the community as a whole, so much so that, all the Hashmasks combined sold for over $16 million. Out of all of them, the most expensive is bought by Danny (@seedphrase) for a whopping $650K.
The USP of these assets is that there are only a set number of classes of particular art to introduce rarity in the market. Every art is open to the interpretation of the consumers and can change its meaning. The Hashmasks ecosystem is rare because of the colors, eyes, masks, etc which puts the Hashmasks in the hierarchy. The best part of this art, even after all the previous points is that it can be renamed. It can have a personalized touch of the consumers when it is renamed and it will be like the consumer has some contribution to the art except that of owning it. If other NFT systems, try to bring and improve the personalized connection between the art, the artist, and the consumers, the art is bound to succeed.
