Hashmask is a relatively new digital art NFT project that launched publicly about 4 days ago. Since then they have been able to sell out of their entire supply of Hashmasks with the last 3 sales costing 100 ETH each.
Each Hashmask is designed to be a unique avatar made up of individual components created by a group of international and anonymous artists. There seem to be a total of five identifiable components -mask, character, eye colour, skin, colour and item.
Lewis Freeburg, a developer at Empty Set Dollar, has broken down the rarity of each of the known Hashmask traits in this Twitter thread.
Okayyyy @Hashmask rarity time! (n=1943)
Below is a sample of 2k hashmasks and the rarity of features. There may be rarer masks but at the moment Mystic is a winner at .1% frequency (#16251) pic.twitter.com/kZxD23149Q
— Lewis Freiberg (@LewisFreiberg) February 2, 2021
In just 4 days the Hashmask project raised over $10m through mask sales. Early participants were unable to see exactly what they were purchasing and instead had to essentially play a forced game of gachapon. Each individual mask was only revealed after the entire supply of 16,384 had been bought up by collectors.
Beyond just collecting Hashmasks for aesthetic value and perceived rarity, users should also be aware of the secondary game being played by all Haskmask participants. Each Hashmask NFT accumulates 10 name change token (NCT) per day and it costs approximately 1,830 NCT tokens to change the name of a Hashmask. No two masks can share the exact name, giving this naming right by way of NCT additional value.
In typical crypto fashion, someone has already created both Uniswap & Sushiswap pools for the NCT token. You can check out what the token is currently trading at and the depth of liquidity for NCT on Coingecko.
Keep up with Hashmask by following them on Twitter.
Business Development and Operations at TrustToken – TUSD. Jack is a startup generalist and DeFi enthusiast. Stay connected with him by following @HHJackSun on Twitter.
