• Mon. Feb 26th, 2024

Powering PoW NFTs to Become the Next Blue Chip NFT Collection

 Hacash Diamonds launches HACD exchange

SAN FRANCISCO, April 20, 2022 (GLOBE NEWSWIRE) — According to CryptoSlate, Proof-of-work coins still account for more than 60% of the crypto market share. Currently, PoW coins are still the best choice for storing value through cryptocurrencies.

PoW consensus inherently has great potential to retain value, because it ensures the fairness of cryptocurrency mining and prevents the asset from being controlled by centralized institutions. Besides, the cost of mining lays the foundation for its value.

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Today, NFT market is flooded with a large number of uninspiring projects, most of which are just for fomo and speculation. If NFT wants to pursue stability and long-term value, can it be combined with PoW consensus and become the new form of a store of value?

PoW NFTs avid collector Ken You tweeted his opinion that PoW NFTs are the next blue-chip NFT collections. On Hackernoon, Ken published a brief market research report “Why PoW NFTs are the next Blue-Chip NFT Collections,” which is the first article on the Internet to introduce the emerging market of PoW NFT. (Link to the article: https://hackernoon.com/why-pow-nfts-are-the-next-blue-chip-nft-collections)

In the article, Ken analyzes the history and future development of PoW NFTs in detail, from the perspective of arts, mining difficulty and bidding mechanism. The article also thoroughly investigates 4 exemplary representative PoW NFT projects, and confirms that HACD, which emerged as early as 2018, is the first real PoW NFT.

Although HACD is on a non-Ethereum chain, it has the fairest mechanism for mining, bidding and circulating. HACD’s mechanism has successfully stood the test of time, and it has the potential to lead the development of the entire PoW NFT market.

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Adhering to this judgment, Ken You established Hacash.Diamonds, and launched a decentralized trading platform and a secured trading service platform, focusing on HACD’s trading, collection, art exhibition and other services.

Up to now, Hacash.Diamonds has helped more than 1,000 collectors to collect HACD, and achieved a transaction volume of more than 1 million USD. The highest single HACD transaction price is 47,000 USD. This data outperforms in the collection platform of the entire HACD market. However, it is still tiny compared to big NFT exchanges like Opensea.

Hacash.Diamonds’ founder Ken You said: “There is a large bubble in the NFT market now, and 99% of NFTs will cease to exist in the future. Hacash.Diamonds aims at building a boutique NFT agency that serves collectors interested in historic and innovative NFTs. We believe that HACD is the answer you ask about the future of NFT, because it is on a new and right track: Proof-of-work. Besides, HACD is the first NFT on a chain other than Bitcoin and Ethereum. Will the NFT based on the Bitcoin mining mechanism become the next mainstream store of value? Let’s wait and see.”

About Hacash.DiamondsHacash.Diamonds is a platform providing professional HACD collection services. It is committed to spreading the energy generative art represented by HACD and promoting HACD to become a mainstream store of value. The team members are all serial entrepreneurs of Chinese and American blockchain. The products developed and services provided by the platform include HACD browser, scarcity tools, decentralized exchanges, OTC guarantee services, NFT platform guarantee services and NFT art exhibition services.


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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.