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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

Launching with a partnership with Crypto.com, the Cronos-based NFT platform Minted

Minted, a non-fungible token (NFT) marketplace promoted by Cronos Labs, debuted on Thursday and announced a partnership with market leader Crypto.com.

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Even though there are other NFT marketplaces on Cronos, Minted enables top-tier NFT projects like Moonbirds, Otherdeeds, and other well-known NFTs frequently based on Ethereum to be featured alongside Cronos-based ones. The platform will support over 10 million NFTs from 2,800 projects.

Following their collaboration, Minted will handle any secondary trades of Cronos-based NFTs initially sold on Crypto.com.

Users can list their NFTs built on Ethereum on the marketplace in exchange for $MTD, the platform’s native coin. Then, $MTD can be staked to earn yield for a predetermined period. The user receives more benefits while using well-known NFTs, such as Moonbirds and Otherdeeds, or uncommon NFTs.

Looksrare and other NFT marketplaces have previously provided users with prizes for listing NFTs. The Block earlier claimed that Looksrare saw significant wash-trading before losing popularity.

According to a project manager at Minted who went by the pseudonym Marco and spoke to The Block, the site has parameters to prevent users from abusing rewards. One such strategy is incentivizing users to price their NFTs fairly instead of doing so at an inflated or depressed cost. According to Marco, they receive one more point if they list the NFT for two times the floor price. The points increase to two if they advertise it at 1.1 times the floor price, though.

Overall, Minted wants to be multi-chain from the beginning with Ethereum and Cronos and give users a more intentional experience, Cronos managing director Ken Timsit told The Block.

“The concept is simply to construct a collection of features more thoughtfully for creators, companies, and users that deliver an NFT experience that is more curated and careful.”

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NFT

HitPiece, a music NFT platform, prioritizes ownership rights following a difficult test debut

The music non-fungible token (NFT) platform HitPiece, which caused controversy when it first went live in beta back in February, is fully operational. Additionally, the revised version will try to steer clear of the copyright problems that the beta version encountered, according to co-founder Rory Felton.

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The beta debut of HitPiece sparked controversy among musicians who alleged that their works were posted on the platform without their knowledge or consent. HitPiece ultimately made the decision to delete its beta website.

Felton told The Block that the company improved the platform based on community feedback in an effort to make it the go-to location for music NFTs.

highlighting property rights
Felton asserted that there was absolutely no music available on the HitPiece beta platform and that the business would never offer music for sale without the necessary commercial rights. According to him, it was designed to be a private experience that was created on a private blockchain. Nothing was decentralized or marketable through a third party.

However, when artists discovered their work on HitPiece, they asserted that it had been minted as NFTs against their will. The Recording Industry Association of America even demanded HitPiece stop selling NFTs in a letter of demand.

Clearly, we realized we made some mistakes after receiving the criticism in early February. Fletcher stated. “We didn’t put the required safeguards in place to make sure that only creators and owners of the rights to use their intellectual property could mint NFTs containing their creative assets. Therefore, we removed that beta and created a product that, in our opinion, makes sense for both the market and artists.

Five months later, HitPiece is prioritizing ownership rights and advancing the interests of the platform’s artists as it goes public.

Felton claimed that the company’s Wednesday announcement of a partnership with Audible Magic shows that emphasis. We collaborated with [Audible Magic] because we believe it’s crucial that only the song’s owners and rights holders mint NFTs with that music on them.

By 2021, there will be over 100 million songs available on Audible Magic from over 400,000 record labels. To make sure that no copyright laws will be breached by minting an NFT, artists and rights holders must register on HitPiece, validate their identity, and have their uploaded content reviewed against Audible Magic’s database.

Additionally, HitPiece will pay the transaction fees and minting expenses incurred by platform-using artists. However, according to Felton, the platform might never cover the cost of gas and other costs.

Felton, a lifelong music enthusiast, and Jeff Birmingham, a Spotify early investor, co-founded HitPiece in 2020. According to Felton, “it became obvious to me that there were chances for music artists who take advantage of the space to produce new revenue streams and engage with their audience in novel ways.”

According to musician ATL Jacob, who spoke at the platform’s debut, “Web3 has great potential to be a catalyst for increasing artistic integrity, autonomy, and engagement for any musician, regardless of their reach.” ATL Jacob is one of the “dozens” of musicians already utilizing the platform, according to HitPiece, and he currently holds the top spot on Billboard’s Hot 100 Producers chart.

Every musician should eventually sign up for web3, according to Felton. “I think some will move into this area faster than others, but I think it’s here and I think that’s kind of like an ostrich burying its head to ignore it,” the speaker said.

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NFT

Avalanche Increases by Nearly 15% Amid Rising NFT Volumes

Avalanche, a well-known Ethereum rival, has increased by double digits as the network’s NFTs gain popularity.

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Among the top 20 largest cryptocurrencies by market capitalization, Avalanche (AVAX) is leading the increases.

The trade volume for AVAX, the coin that powers the layer-1 blockchain, increased by 23 percent during the last day and is up 14.18 percent.

According to information from CoinMarketCap, the coin is presently trading at about $29.3. The cryptocurrency is still down 80.55 percent from its all-time high of $146.22 in November 2021, despite a 25 percent increase during the previous seven days.

Data from DefiLlama shows that the total value locked (TVL), a measure of on-chain DeFi activity, has increased 1.74 percent during the previous 24 hours. Avalanche currently has a TVL of $2.42 billion.

The bullish movement of today destroyed short traders. Data from Coinglass shows that over the last day, short positions on AVAX totaled $1.98 million. Over the same time period, long deals totalling $363.8K were also liquidated.

NFT Demand on Avalanche is Growing
The rapid expansion of Avalanche-based NFTs looks to be one of the primary drivers of today’s bullish price movement.

Data from CryptoSlam shows that trading volumes have surged by 30.90% during the last 24 hours. Over the same time period, the overall number of sales grew by 12 percent, going from 125 to 140.

According to data from CryptoSlam, the most popular Avalanche NFT collection Navy Seal Game trade volume increased by 62.7 percent in the last day. The trade volume of other NFT collections, such as Avapepes and Pizza Game Chefs, has also increased significantly during the same time frame.

Along with Avalanche, the two most popular cryptocurrencies over the previous day have seen gains: Bitcoin (BTC) and Ethereum (ETH).

Bitcoin has increased by 5% over the last day and is currently trading at about $24,129, according to statistics from CoinMarketCap.

According to data from CoinMarketCap, the price of ETH has increased by 5.3 percent during the last 24 hours to be about $1,772.

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