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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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To accelerate ecosystem growth, Fireblocks introduces Web3 Engine with developer tools

This set of tools is intended for developers working on DeFi, GameFi, and NFT products and services.

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Fireblocks, a digital assets custody platform, announced the debut of their new Web3 Engine to assist encourage the development of the Web3 ecosystem as the world moves closer to a decentralized future.

The dedicated Web3 engine contains a set of tools for developers to create goods and services in decentralized finance (DeFi), GameFi, and nonfungible currencies, the business revealed on Tuesday (NFT). For alternative asset managers and capital market participants, Fireblocks has opened up a world of decentralized programs (DApps), exchanges, NFT markets, and more.

“Web3 is the future,” Fireblocks CEO Michael Shaulov said, adding that “the Internet has already entered a new era.” According to Shaulov, in order for the Web3 ecosystem to continue to grow, the community must address a major issue: security.

Fireblocks’ new Web3 Engine, according to the announcement, makes it simple for developers to build DApps on top of Fireblocks’ tech stack or securely access the entire spectrum of current web3 apps. Web3 companies such as Animoca, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius, and Utopian Labs use Fireblocks to secure themselves from human mistake and hackers.

Web3 has sparked a lot of interest in the sector, as evidenced by the rise in market capitalization of Web3 coins in recent years. It’s an ecosystem that everyone can access from anywhere at any time, with no restrictions or middlemen. Many large corporations have made considerable investments in Web3’s potential.

Google Cloud has formed an internal team focused to developing services for blockchain developers and Web3-based application operators. With Metaverse involvement and NFT enthusiasm, industry titans like Meta and Amazon have entered the market. Square Enix, the gaming behemoth, recently announced that it would spend heavily in Web3 gaming.

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Is Fender quietly getting ready to enter the NFT market?

In order to preserve or launch its brand in web3, Fender has filed various NFT-related patents and trademark applications in the United States.

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Fender, a well-known guitar manufacturer, has filed three patents related to NFT with the US Patent and Trademark Office.

When it comes to developing, selling, or buying NFTs with the Fender brand name, the patents would suggest a purpose to make or protect its brand.

Fender filed a series of trademark applications linked to its headstock design in possible NFTs, according to GuitarWorld, including NFT collectibles, virtual products, pictures, artwork, video, and audio recordings featuring music and musical instruments.

Mike Kondoudis, a trademark attorney, noticed the application to the US Patent and Trademark Office, which was filed on April 28.

Source: Twitter

Fender isn’t the first guitar company to think about using NFTs. Billboard reported in January that Gibson, the legendary guitar brand and Fender rival, was preparing to join the NFT industry with six trademark applications connected to NFTs and digital goods.

Big brands, from Adidas to Gucci, have been fast to experiment with NFTs and the Metaverse as two new distribution channels. They’re still figuring out where they belong in the virtual worlds.

NFTs are being used by musicians to reinvent fan involvement

NFTs and the Metaverse are being used by many established bands and brands to redefine how they communicate with fans. Additionally, musicians that rely significantly on in-person concerts as a fundamental income source will find the revenue streams and royalties available by the sale of NFTs appealing.

Music producers and platforms such as Audius, DAOrecords, and TokenTraxx are collaborating with musicians to demonstrate the possibilities of Web3 technology and allow fans to be creative using NFTs.

As famous guitarists get involved in the NFT realm, guitar brands are naturally interested. Keith Richards sold one of his beloved guitars with an exclusive 1-of-1 Tezos blockchain NFT produced for $57,600 in January of this year. The guitar, as well as a digital replica in the shape of an NFT and a video of Richards signing the guitar, were all up for auction.

Since the beginning of the year, the number of NFT trademark applications has increased dramatically, with 3,306 applications filed between January and April.

Source: Twiter

Despite the applications, Fender has yet to reveal its plans for NFT.

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According to Music Ally, Spotify has begun testing NFTs on its platform

If a trial deployment goes well, artists may soon be allowed to market their non-fungible tokens (NFTs) on Spotify, according to Music Ally.

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Spotify, the most recent tech business to join the NFT bandwagon, entered the web3 world earlier this month with the introduction of “Spotify Island” on Roblox on May 3. Spotify will now test NFTs on the platform to specifically selected US consumers, starting with a single trial selection of artists, including Steve Aoki and The Wombats.

Users will have to purchase NFTs through an external marketplace, thus they won’t be able to sell them directly. As part of the trial, Spotify has stated that it will not take a portion of the sales.

Simultaneously, customers have stated that Spotify is sending out surveys and even paying some people to talk to team members about their feelings regarding NFTs and web3. Questions concerning sentiment, cryptocurrency purchases, and why people acquired NFTs have been circulated on Twitter. Some poster responded with mockery to the queries.

Since March, when Spotify placed two job offers for working on early-stage web3 projects, rumors have circulated that the firm was interested in entering the web3. The announcement comes only days after Meta revealed that it would begin testing digital collectibles and NFTs on Instagram as well.

By the time of publication, Spotify had not responded to a request for comment from The Block.

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