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The Name Changing Token (NCT) is the native token of the Hashmasks artwork. The NCT serves only one single purpose: It allows its holder to give their Hashmask a unique name that is permanently stored and publicly visible on the Ethereum Blockchain. Thus, commoditizing the name itself and making it the rarest of all attributes within the entire project. This opens up a whole new dimension for collectibles where the value hierarchy of the individual pieces of the whole collective art is highly impacted by the preferences of the consumers.
If you own a Hashmask, you can claim the NCTs that are accumulated by the NFT. Each NFT accumulates around 3,660 NCTs per year. If you participate in the initial contribution period, you receive an additional 1,830 NCTs. To change the name of an NFT, you need to send 1,830 NCTs (about ½ years of NFT emission) to the Hashmask contract and burn them.
IntoTheBlock is an intelligence company that uses machine learning and statistical modeling to deliver actionable intelligence for crypto assets.Explore Name Changing Token