Hashmasks not only test your luck in opening blind boxes of artworks, but also test your naming skills.
Author: Lou Yue
Blind box player: “It’s cool to open the blind box for a while, and it’s always cool to open it all the time. You can’t imagine the fun of getting a hidden blind box.
A project called Hashmasks combines the fun of opening blind boxes with NFT artwork. By introducing “named tokens” to give players the right to name, it will test your naming skills while drawing blind boxes. You want to open Come try it?
What are Hashmasks?
In one sentence, Hashmasks is a digital identity blind box that can be named independently in the NFT field.
Specifically, Hashmasks is a digital art collection project created by more than 70 artists around the world, with a total supply of 16,384 NFTs , each of which is a unique personal portrait, and each painting has 5 rare elements . Each has a different degree of scarcity and is randomly selected.
The user can also name the Hashmask after purchasing the portrait painting, which means that the buyer can become one of the founders of the original painting, further enhancing the scarcity of the painting.
Hashmasks part of the work display
Hashmasks also shared its views on digital identity in Medium :
NFT is not only a digital art, but also a digital identity . Especially among the younger generation, the importance of digital identities sometimes surpasses physical identities. Now having a photo of a certain moment worth sharing on social media Instagram seems to be more important than the moment itself, and this trend is only Will accelerate, not reverse. In the near future, your identity will likely be completely digital, and your identity online will be more important than at home and in the real world. Digital identity will become the soul window to the outside world. This is the first thing people think of you. Hashmasks is designed as a portrait of a digital identity. As long as the Internet and Ethereum continue to exist, your name will be engraved on the contract.
How to get Hashmasks?
Hashmasks was launched in the blind box auction method at 16:00, January 28th, US Eastern Standard Time (5:00, January 29th, Beijing time). The price of the auction adopts the joint curve model , and the person who photographed it will be 14 days after the auction ends. A random algorithm is used to obtain one’s own personal portrait works, which means that the scarce elements on each NFT collection will also be randomly determined.
The initial auction price is 0.1 ETH. After the first 3000 NFTs are sold, the selling price of the next 4000 NFTs will rise to 0.3 ETH, and the price of the last three works will be 100 ETH. The initial auction time is expected to be 2 weeks.
As of February 1, the auction price range
In order to prevent the founder or anyone else from purchasing the rarest NFT works in advance, Hashmasks adopts a fair distribution method through an on-chain random mechanism . Specifically, users will get an initial serial number after the purchase is completed, but they do not know themselves Which work is obtained, Hashmasks will be further processed through hash algorithms such as SHA-256 and index data, and combined into the final work in the specific order listed.
Hashmasks is being auctioned and sold at the scheduled time of the joint curve. After 14 days (February 11) or when all NFT works are sold, the purchased NFT works will be announced, which is the intense and exciting stage of blind box opening .
If there are still unsold works after the exhibition stage, the auction will continue at the current rate, but the NFT paintings will be made public, which means that buyers will be able to see the finished product before making a purchase; in addition, purchase after 14 days have passed Participants will not be able to obtain NCT tokens.
However, as of February 2 morning, Hashmasks has sold all 16,384 pieces of digital art collection and open the blind box, to raise a total of 10,243 pieces of Ethernet Square, currently worth nearly $ 14.2 million.
Hashmasks features
Hashmasks said that its NFT works are not simply collectibles, they are more like art. Art is not systematic and very mysterious, and buyers are also part of art .
The design of the work combines collectible props and artistic creations. Many of the features or attributes of Hashmask are not clearly marked, encouraging consumers, or collective consumers, to project their interpretation of value onto the artwork.
It may be difficult to define the exact value of an artwork. It is also difficult to measure the unique artwork acquired by the buyer plus the fun experience of unpacking the blind box, but Hashmasks’ works still have two major characteristics .
Scarcity + uniqueness
First of all, as shown above, all 16,384 works are unique , each of which also has five different scarce elements , including different masks, eye colors, objects, styles, skin colors, and other attributes. It means that all Hashmasks will be combined, and in the end, a unique NFT work composed of five rare elements will be randomly generated.
Hashmasks have 14 different types of masks, 12.5% of all characters wear animal masks, 5.9% wear pixel masks, and only 13 Hashmasks wear unicorn masks . Other hidden features include different backgrounds, shirts, hairstyles and Color and so on.
Naming rights
Secondly, each NFT work has a unique name, and the naming right of the work is determined by the purchaser . At present, popular special names such as Satoshi, ETH, Bitcoin, DeFi, etc. have been taken.
Hashmasks said that users can add unique naming touches to paintings, and the decision of naming is passed to consumers, eliminating the invisible boundary between art creators and consumers .
- Naming rules
- The title of the work cannot be the same
- Up to 25 symbols (including spaces)
- Uniqueness is not case sensitive (i.e. “John” and “john” are considered the same for the blockchain)
- No “space” at the beginning or end
- Only alphanumeric symbols can be used
- After the NFT name is changed, the new name is immediately available
CryptoCobain, a popular figure in the crypto community and an artist with 220,000 fans, also participated in the Hashmasks project and gave a naming suggestion on Twitter :
If you can think of a good name, name it. If not, it is recommended to sell NCT to buy more Hashmasks, or keep NCT without naming it. People’s naming is so bad, NCT may be more valuable than Hashmasks.
Hashmasks’ “named tokens”
If you want to name Hashmasks works, you need to use NCT tokens (Name Changing Token). Each work will have a unique name that can be used to change the name . The name will be permanently stored and publicly visible on the Ethereum blockchain. , Hashmasks has “commoditized definition” for each work through NCT tokens.
In order to give early participants more decision-making power, the auctioneers participating in the 14-day initial sale can obtain 3,660 Name Changing Tokens at the same time after obtaining the NFT works. Each change of name requires 1,830 NCT.
Holding each Hashmask work will earn approximately 3660 NCT tokens each year. After 10 years, NCT tokens will cease to be produced , and the tokens can only be destroyed until there are no circulating NCT tokens in the market , which means that the name of Hashmasks will expire It will no longer be able to be changed, and each artwork will be considered “complete and unique.”
There are only two ways to obtain NCT tokens . The first is to hold one or more Hashmask works, and each NFT work can accumulate 10 NCT tokens per day. The second method is to trade NCT tokens through the market.
Can Hashmasks be traded?
Hashmasks follows the ERC 721 protocol standard and can be freely transferred between Ethereum wallets. Although the Hashmask website does not provide entry for works transactions, users can conduct free transactions on third-party websites.
According to data from Opeansea on February 1, Hashmasks’ transaction volume in the past seven days has jumped to the second place, second only to CryptoPunk, with a total transaction volume of nearly 1,400 Ethereum, an average transaction price of 2.14 Ethereum, and 2986 independent holders. name.
The owner of Hashmasks with the initial sequence number 1 sold NFT works named after former US President Donald Trump for a high price of about 97 Ethereum (currently valued at more than $126,000), and the cost price was only 0.1 ETH (about 130 USD).
summary
The transaction volume of Hashmasks is increasing sharply, and the style of works that has been shown has been affirmed by many people in the crypto community. All 16,384 works have been sold out in advance. When the intense blind box opening stage arrives, many people may find named works, such as The name of the person was drawn as a robot’s work, and perhaps there will be a wave of name changes.
Just like the blind box, although there will be some hints on the outer packaging, you don’t know what is inside. Of course, you may not be able to draw the central instrument, but many people still enjoy it.
