An investor who bought an artifact online – a Hashmask digital art collectible, a few days ago made an over 100,000% increase in profits after reselling it.
The Hashmasks were created by more than 75 digital artists from all across the globe. These “living digital art collectible” are a flawless collection of 16,384 different digital portraits as recorded on the website dedicated to the project.
Art Owners Earn NCTs
Any investor that purchases specific Hashmasks earns NCTs (Name Changing Tokens) that can be hoard and burnt to specifically change the title of the artwork they bought.
The Investor, however, bought the #1 Hashmasks that is currently named “Trump” for just 0.1 ETH, which is about $130 in fiat currency, on Thursday. About three days later, the investor resold the digital artwork on OpenSea – a Marketplace for rare items for 92.2307 ETH, which worth over $133,000 in total as of when this article is compiled.
It was revealed that the new buyer of the art, WestCoastBill, is a very active trader in the Hashmasks trades having purchased over thirty of the unique arts already.
The ownership verification of these Hashmasks uses the non-fungible tokens. All the 16,384 Hashmasks earn 10 Name Changing Tokens (NCTs) each in a day. Those who have accumulated 1,830 NCTs, which is the equivalent of six month’s daily earnings, can now burn the tokens to change the name on the art they own.
Each unique art stop earning the daily 10 NCTs after ten years of existence, which means the supply of the token will decrease gradually from that moment till the last NCT token is used up and the art piece is wholesome and complete.
The community cannot but marvel at the great investment made recently on Hashmasks in just a few days of purchase. It is literally possible to have such a huge return on investment in any business in recent time. How that barely $130 can be turned to $130,000 in just a space of three days without having to put much effort into it is the real wonder.