NFTX Hashmasks Index price

MASK

The NFTX Hashmask Index is a fund on the NFTX platform for non-fungible tokens (NFT) that allows users to use Hashmasks as collateral. The process earns the loanee the fund’s base asset called MASK.

Hashmasks is a hot new digital art trend created by Swiss-based Suum Cuique Labs, labelled as one of the largest collaborative NFT art projects ever. It features a living digital art collectible of over 16,0000 digital portraits created by more than 70 artists worldwide. Artwork holders accumulate daily Name Changing Token (NCT) rewards, which can be used to name your portrait on Ethereum’s blockchain.

With other collectibles, the creators normally establish the rarity of their NFTs, Hashmasks uses two scarcity layers: It issues a set of traits as a blanket guidance to end-users, but there are also many implicit traits to be considered, chief among them the naming of of the collectible. It is the first collectible whose artworks’ value and rarity are not set in stone, but will change over time.

The Hashmask Index commoditizes naming through its fungible NCT asset, which can be exchanged with other collectible participants. Every name is truly unique and attributable to only one NFT.

NFTX is a platform that enables users to invest and create index funds based on collectibles such as Axies, CryptoPunks and CryptoKitties. More importantly, non-fungible tokens (NFTs) back the funds at a ratio of 1:1. NFTX creates a link between decentralized finance (DeFi) and NFT ecosystems.

The NFTX network added the index fund in early Feb. 2021. Note that Hashmask is a digital art and collectibles project powered by the Ethereum blockchain.