Hashmasks, the latest non-fungible token (NFT) rave already seems to be drawing attention as the project has raised almost $10 million in only four days of its limited-edition “cards” being on sale. Meanwhile, one of the already acquired digital collectibles has already been resold for more than $126,000 on the NFT marketplace OpenSea as collectors rush to acquire the new piece of NFT memorabilia.
Over 15,000 Hashmasks Already Sold
According to the Hashmasks website, 15,333 NFTs have already been sold to collectors for a combined total of about 7,666 ETH. This figure amounts to almost $10 million based on the current spot price of Ether on the market.
Launched on Jan. 28, Hashmasks is a digital art cum digital collectibles collection featuring 16,384 unique cards. Each card is said to hold five distinct attributes; eye color, skin color, mask, character, and item, that all combine to differentiate the tokens.
When launched, the cards cost 0.1 ETH to acquire for the first 4,000 with this sum increasing to 0.3 ETH, 0.5 ETH, and 0.9 ETH over the next three pricing epochs. As of the time of writing this article, it costs 1.7 ETH to purchase one of the Hashmasks.
After the 1.7 ETH epoch, it will cost 3 ETH to buy a Hashmask and beyond this point, a whopping 100 ETH will be needed to buy the last three remaining cards. According to the website, over 70 artists contributed to design and create the NFT collection.
Hashmask owners also earn name changing tokens (NCTs) which can be used to change the name of the cards. When purchased, the cards are unnamed with the reveal reportedly happening later in February.
Early adopters, i.e. those who acquire the cards during the distribution phase, receive 3,660 NCT which corresponds to a 2-year supply of NCT. It costs 1,830 NCT to effect a name change for the cards, meaning that early buyers have two name change opportunities available to them.
Cards Already Commanding Huge Value
While the distribution phase is still on, a booming secondary market has already emerged for the Hashmasks. The collector of issue #1 in the series has already sold the card for about 97 ETH (over $126,000). The initial owner who acquired the card for 0.1 ETH named it “Trump,” presumably after former U.S. President Donald Trump.
The Trump Hashmask may not end up being the most expensive of the lot. Indeed, one of the cards named “CSW is not Satoshi” is on sale for over 900 ETH on the OpenSea platform.
NFTs have been a major focal point in the emerging decentralized finance (DeFi) scene with collectors willing to part with huge sums of ETH to acquire these digital art pieces and collectibles. As previously reported by Enjin recently partnered with Miss Bitcoin to roll out an NFT project in Japan.
Sports teams are also joining the NFT movement with Spanish football giant Real Madrid joining the Sorare NFT roster back in December 2020.