Hashmasks’ NCT Token is Straying Away from its Intended Purpose

Hashmasks’ Name Changing Token (NCT) allows users — as the name suggests- to change the name of their Hashmask. However, token transactions reveal that 30% of newly minted NCT is now owned by addresses that don’t actually own a Hashmask.

Hashmasks are digital art collectibles that have been created by more than 70 artists from across the globe. There are a total of 16,384 unique digital portraits as of now.

Each of these artworks is uniquely designed to be part digital art and part digital collectible. They are all designed to possess five basic characteristics: eye color, mask, skin color, character, and an item.

Hashmasks also have several unstated characteristics, which are not included in the five basic features. And above all — the users have the opportunity to give each Hashmask its rarest trait — a name.

Holders of the Hashmasks accumulate the project’s native token, Name Changing Token (NCT), on a daily basis.

The new non-fungible token is doing the rounds on crypto Twitter.

The project, which was launched a week ago, was founded by Suum Cuique Labs, from Zug, Switzerland. Currently, the project is the number one collectible Decentralized app (dApp), according to Dappradar. The project raised about $10 million four days after its launch by selling more than 15,000 Hashmasks.

In the news today: the Hashmask below just sold for $130,000.