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13 Reasons Why the Historic PoW NFT Hacash Diamond a Worthy Collectible

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NFT collections are now innumerable. If you want to make your investment safer and more stable, if you are willing to capture tremendous long-term returns, if you are tired of FOMO in the market every day, but you don’t know how to choose, then you can consider the following five points:

First, the safest way is to let time help you to choose. Projects that are of little value would disappear gradually within a year, three months, or even two weeks. If some projects have been tested for a long time, say three years, and are more and more prosperous, we have no reasons to believe that they will suddenly lose all value tomorrow. This is determined by the Lindy effect.

Secondly, in the information world where everything can be copied at no cost, ‘Initiative’ is the place where values converge. Attention and capital will automatically trace back to the earliest project in which the market will be concentrated and maintained active. In other words, there must have innovation, and the more the better. Try to avoid projects that are almost plagiarism, or those blockbusters yet have nothing new: they are more likely to steal your wealth.

Thirdly, try to find projects that existed long before the wave breaks out, rather than projects that were hurriedly launched to cater to the market after the track was hot. Those projects which are one step ahead and correctly anticipate the market in advance are more likely to recognize the essence of the phenomenon and create fundamental value.

Moreover, a project should have survived and grown steadily without vanishment. After all, 99% of projects that are dead will never come back to the stage. If a project becomes completely obscured at a certain stage, then there is a large probability that this unknown situation will last forever. Thus, those projects that have kept active all the time are more likely to live better in the future.

Last but not least, choose projects that are mostly community-driven and operate spontaneously, rather than projects that are completely dominated by the project side who put a lot of money into the media and key opinion leaders for strong promotion. After all, the essential value of the crypto world is decentralization, and a purely community-driven project can minimize the threat of unrealistic information and fictitious demand generated by those staring at our pockets.

If you agree with these selected aspects mentioned above, then we solemnly recommend to you a project that fully satisfies all the above criteria and, for some special reasons, is not currently receiving much attention in the market. We will enumerate the fascinating features and innovations of this NFT collection. For the time being, we will call it ‘Diamond’ for short.

  1. The invention in 2018: It was an invention in 2018 when the white paper is released. And the first diamond was mined on May 16, 2019. Yet most of the existing NFT projects were created in a hurry to seize the market share after the first craze of NFT in the first quarter of 2021
  2. PoW NFT: Yes, it is ‘mined’ like mining Bitcoin. Energy and computing power are required to mine outputs. In fact, it created a brand-new collection category of PoW NFTs, and the second PoW NFT appeared in March 2021, after an interval of 3 years
  3. Text NFT: It is the first ‘Text NFT’, and it is more concise than the popular text NFT ‘Loot’. Diamond consists of only 6 uppercase letters, generated randomly from the specially selected 16 letters “WTYUIAHXVMEKBSZN”. Some names of the diamonds that have been mined out are quite interesting such as ‘BUYBUY’, ‘MYBANK’, ‘ETHMAN’ and so on.
  4. Larger quantity: Its theoretical total amount is much larger than that of general NFT collections, so it can establish a much larger group of potential collectors than general projects, which is beneficial for the liquidity of collections and the scale of consensus groups. Since it is composed of 6-digit letters, its theoretical aggregate limit is equal to 16^6, which is 16,777,216 pieces. Only around 50,000 diamonds have been mined in the first three years.
  5. Infinitely Mineable: It is the first “infinitely mineable” NFT. Although its theoretical upper limit is 16,777,216, since its mining difficulty increases exponentially with the number of diamonds mined and never decreases, it will never be possible to mine all the diamonds. At some point, the mining difficulty will surpass Bitcoin and continue to increase until infinite difficulty. In the early stage when the difficulty is not high, a maximum of 58 coins are mined every day.
  6. DNS NFT: It is the first NFT with an additional DNS function. In Hacash’s payment channel, the diamond name can be used as the payment address, and the system will automatically resolve it to the account address with the corresponding diamond. Since diamonds are composed of 6-digit letters, it is equivalent to the short address or customized address function like Ethereum ENS.
  7. On-Chain Generative Art or Energy Substantiated Art: Unlike most image-based NFTs, each diamond is not artificially designed or drawn by a writer or project party but is “mined” by a computing machine that consumes energy. Each diamond is randomly generated and unique, just like natural gemstones, which can be assigned value and be aesthetically assessed in terms of a literal value, number, shape, color matching, and purity. etc. Diamonds that satisfy many perspectives at one time are very rare and worth collecting.
  8. Mystery box for miners: Miners have no way of knowing the shape and color of the diamond until they spend energy to find one and successfully bid, just like we never know how buried gemstones look like until they are dug. This greatly stimulates the miners’ zeal and interest.
  9. On-Chain Bidding: When many diamonds are mined in one diamond-mining period, miners are required to bid for the right to package the only diamond in this period. This bidding is equivalent to a real-time public auction among miners globally wise. Everyone can instantly and transparently see the auction data, which is conducive to reflecting the current value of diamonds and market demand.
  10. Fair Distribution: 58 diamonds are mined out every day, and it will take at least 800 years to mine all the total amount of 16.77 million. You will always have a chance to get one diamond at the current hash rate and real-time bidding level, rather than just buying it from existing holders at very dubious prices. Those NFT collections with a total amount of only 10,000 or even a few hundred are often minted by internal relations and preemptive giant whales within a few hours after going online. It is difficult to imagine that this is fair for ordinary collectors.
  11. Stable Value: As the difficulty of mining diamonds continues to increase and never decrease, the calculating power of mining is highly demanded, that is, the production cost of diamonds is getting higher and higher. This would result in mining a diamond being profitable only if its market value exceeds the marginal production cost of the latest diamond. This also means that after a certain mining difficulty is reached, new diamonds will only be mined if the market price of the diamond keeps increasing. Although diamonds can never be mined wholly, the difficulty mechanism that only increases and never decreases will automatically adjust the production of new diamonds according to demand equilibrium. And the production of new diamonds will slow down when the price of diamonds falls. This will bring stability to the diamond’s value.
  12. Combinability: Since there are more diamonds, they are different in literal value, number, shape, main color, and color matching. Unlike other avatars NFTs that can usually only be sold separately, diamonds can be sold in very diverse ways to combine into sets, such as ‘Nine Shape Set’ and ‘Love Four-piece Set’, which are composed of 9 shapes and 4 ‘Love’ diamonds respectively. This greatly increases the interest and charm of diamond collections.
  13. Pure Community-Driven: After reading the above content, everyone must have doubts. Since it is a project with so many exciting innovations, why has it not yet received large-scale attention from the market? The reason is very simple. This is a purely community-driven project. It relies entirely on word-of-mouth. There is no project party to write those exaggerated promotional articles and spend money on various media. As a result, diamonds have been spread only among core enthusiasts. In addition, the lack of circulation on Ethereum is also an important reason for the slow spread of its market.

This project is called Hacash Diamond, or HACD for short. It is the native and the only NFT asset on the Hacash chain that focuses on value storage, currency, and payment. In the form of PoW NFT collection, it endeavors to achieve the goal of becoming a better value storage target than BTC.

The first HACD NHMYYM mined out on May 16,2019

When HACD was first mined out, it was almost unknown. Later, as word of mouth spread step by step, the core community began to trade, and the transaction price gradually increased from 1USDT to 10U, 20U, and later 50U. Up to now, the transaction price of an ordinary HACD is around 150U. While the highest transaction price of a pure royal blue diamond is 47,000 USDT, which exceeds the market price of BTC in the same period. The scale of computing power and the number of community collectors are also expanding, slowly but surely.

If you intend to invest in a long-term and stable project in the various NFT collections with a huge return and to reduce the risk of investment as much as possible, I believe that HACD is an excellent choice in every aspect.

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NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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Projects

The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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