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NCT: another layer in the Hashmask game
“Once An Idea Has Taken Hold Of The Brain, It’s Almost Impossible To Eradicate.”
People following this journal know that I’ve been really into the Hashmask game. It’s like a more sophisticated version of CryptoPunks, without the historical components, but with more layers of complexity.
Hashmasks went pretty fast. We’re now at the 3 ETH tier, and that should be over in no time.
But there’s another way to play this game: NCT
NCT (Name Changing Token) is a utility token, used for giving names to unnamed Hashmasks and to also changing names. Every name changing transaction burns 1,830 NCT — and a lot has already been burned by the name-changing frenzy that took place in the first few days. You can check that on Etherscan
Each Hashmask also accumulates 3,660 NCT per year, and Hashmasks bought during the contribution period get an additional 1,830 NCT.
NCT may be a better way to play the Hashmask game. It’s liquid and the supply is being burned faster than it’s being created, at least for now.
Once we get the reveal, many people will want to change their HM name to fit the character. That should trigger additional burn.
Some people will also want to keep their HM in full pristine condition: that means not claiming the NCT on that particular mask.
Momentum is on NCT’s side, and it already went from $0.06 when the pool on Uniswap was started, to $0.45 as I write this.
I rebought the NCT I spent on naming and a bit more since I also want to keep some unnamed Hashmasks in pristine conditions, without claiming NCT.