Like a magic wand – Buy an NFT for $130,000 and resell it for $130,000 a few days later, it’s possible. At least, that’s the feat achieved by an investor by reselling a work from the Hashmasks series.
100,000% in 3 days, a rather profitable investment
Hashmasks is a collection of digital art, in the form of NFTs, consisting of 16,000 unique portraits created by 70 artists from around the world.
Unlike a traditional NFT, Hashmasks works allow the holder to accumulate NCT (Name Changing Token) tokens, the native Hashmask token.
In practice, at the time of the sale, the 16,000 NFTs were divided into 7 slices with a price ranging from 0.1ETH to 100 ETH for the rarest ones.
Thus, our lucky one of the day bought a work at 0.1ETH (about 130$) on January 28th, which represents the first price bracket.
A few days later, the buyer put his work back on sale for the modest sum of 125 ETH (166 000$) without finding a buyer. He had to lower the price by a few ETH to 97 ETH to find a buyer on January 31.
Hashmask #1 just sold for ~100 ETH on OpenSea.
That’s 130$ into 130000$ in 3 days👑
This represents an increase in value of 100,000% in the space of 72 hours, an impressive return, to say the least… impressive.
The buyer, « Westcoastbill, » seems to be an aficionado of the NFTs. The user bought 30 separate works from the Hashmasks series.
Hashmask’s little extra
Contrary to most NFTs on the market, the Hashmask series has a few special features.
Thus, each NFT allows its user to generate 10 NCT (Name Changing Token) per day.
Once the balance of 1,830 NCTs is reached, the user has the possibility to change the name of the work in exchange for destroying the tokens.
« Smart Contracts allow you to assign a name to your Hashmask, giving you the opportunity to add your unique trait to the work. In this way, you become one of the founding creators who fashioned this raw work of art into a timeless work of art. »,
It seems to have worked out rather well, as Hashmask has already sold all of his NFTs. The question now is whether the craze will continue over time.