Why Hashmasks Became Number One NFT Collectible on Ethereum? Why Should You Consider Using It?

Bob Coiney

February 4, 2021

It is not often we get to hear a platform enabling users to make $9 million in sales just 4-days after launch. Well, that is very much the case with Hashmasks. The new NFT (non-fungible fund) has set Twitter ablaze with the sound over the weekend. 

The digital collectibles merged with crypto art is known as Hashmasks. Today, Hashmasks NFTs are the number one collectible dapp across all platforms on DappRadar. Isn’t that exciting? Besides, it is at the fifth position on all Ethereum dapp categories.

Hashmasks was officially launched on January 27th, 2021. The number of active wallets just took off from a sheer 2.8k and $9.2 million users in few days. Additionally, more than 10000 transactions have taken place since their launch. 

Hashmasks has been able to rise phenomenally to $8 million in the last few days when it could get the attention of the community members. Lately, more than 3.4 ETH sales have occurred, with the average price hovering around 1.2 ETH.

Lewis Freiberg, a part-time developer and hashmasks enthusiast had this to tweet on Hashmasks becoming the number one NFT collectible on Ethereum.

Hashmasks is a collectible based on living digital art designed by more than 70 professional artists globally. You can now find more than 16000 digital portraits that are unique in their own way. 

Hashmasks is part of Suum Cuique Labs from Zug, Switzerland. Once you become the holder or owner of the artwork, you regularly receive the NCT token. Besides, owners can select the portrait name using the ETH platform. 

Readers might be pleased to know that it one of the largest collaborative NFT art projects to be existing today. 

Hashmasks the next generation of digital art collectibles

Hashmasks is a robust combination of digital art and collectibles. Both the artist who designs the collectible and the buyer who purchases it understand and know its value. The consumer is guided well about the collectible, and the owner is given the name in the end. 

Few notable features of Hashmasks include:

  • It is the first collectible that provides many layers of scarcity.
  • It was designed by more than 70 artists globally.
  • It is distributed fairly among artist. 
  • The complete ownership and copyright are given to the consumer.
  • It is a collectible and can be used in games, art, or just about anything. 

In the market, traders can find close to 16,384 unique Hashmasks. They are designed and created by several artists globally. Each of them comes with its own unique feature, which could be varying masks, items, eye colors, and other attributes. 

For evenly being distributed, users will not know the Hashmask they have purchased for 14 days. Hashmasks have their own sequence, but only the first will be known at the end of the sale. 

There can be only a maximum of 20 Hashmasks per transaction. Once the Hashmasks are sold, the contribution period concludes. Owners get to know their Hashmasks. When they are left unsold, then the sale will continue for the same rate with two differences, all portraits are revealed, and there will be no bonus NCT after the 14 days are over.

Significance of NFT in cryptocurrency 

Non-fungible tokens (NFT) play a critical role in the crypto market. They are digital assets that mostly represent a barrage of tangible and intangible items that are unique from others. These digital collectibles holding is much safer and more comfortable than a physical collectible.

The main benefit here is that fake collectibles are going to become hard to come by as the original owners can be easily traced. No two NFTs cannot be identical. Most of the NFT tokens are designed using two Ethereum token standards (ERC-721 and ERC-1155).

They are famous among traders, investors, and companies as they have revolutionized the gaming industry. Today, the NFT is valued at $315 million. Users can sell digital items when playing costumes, in-game currency, and avatars on a secondary market.

It is mainly useful for artists who want to sell their artwork in the digital form. They can do so directly to an audience of buyers worldwide without using an art gallery. Doing that enables them to save money as well. 

The entry of CryptoKitties NFTs

CryptoKitties entered into the market in October 2017. It was introduced thanks to Axiom Zen, a Vancouver-based company. Probably they were destined to be released into the market because it coincided with the 2017 crypto bull market. 

CryptoKitties are not cats, but you can call them a form of trade cats. It is a blockchain-based virtual game allowing you to raise, adopt, and trade virtual cats. You do not have to be lovers of cats because this unique project enabled people to make knightly profits. 

That is right. CryptoKitties were all over news stations like CNN to CoinDesk. 

What are the most expensive NFTs?

The following are the most expensive NFTs:

  • Valued at 600 ETH, Dragon the CryptoKitty is one of the most expensive NFTs. 
  • F1 Delta Time sold a “1-1-1” race car valued at 415.9 ETH in May 2019.
  • A notable one would be Alien #2089 getting sold for 605 ETH in January 2021. 
  • NBA Topshot digital collectible card of LeBron James managed to sell for $100,000.
  • Axie called Angel from the NFT-based game Axie Infinity managed to rake in 300 ETH.

From the above, it is quite apparent that Hashmasks and NFTs are a solid combination. One that is too hard to ignore. NFTs are a sublime tool that allows us to represent physical assets on a blockchain platform. 

It is significant when blockchain technology supports a scalable enterprise application that can simultaneously manage payments and products. If things get tokenized on the blockchain technology, then it lets the ownership to get transferred worldwide. 

In other words, it almost does what our financial system, insurance market, and social media network perform. Why would you want to leave it?