Hacash Diamonds is launching its cross-chain NFT project with plans to launch its second batch of NFTs on Neo. Hacash Diamonds will launch the initial 1H1B NFT collection on Neo and develop cross-chain tools for Hacash and Neo to communicate.
Hacash is a proof-of-work blockchain where the first Hacash Diamond NFT was minted in May 2019. The team claims the HACD series was the first PoW NFT project to combine text and generative art on-chain.
The Hacash Diamonds team is now establishing the 1H1B DAO, which will incorporate an associated cross-chain NFT series. According to the team, the purpose of the 1H1B DAO is to help the floor prices of its first NFT series, HACD, reach a floor of 1 BTC per NFT.
1H1B Series
The 1H1B series will comprise four types of NFTs: H, B, HB same number, and HB different number. There will be 999 H NFTs and 999 B NFTs, each denominated by a number according to the order of their mint. The H and B NFTs can be merged and will establish a new NFT based on whether the mint numbers match or not. Therefore, if every H and B NFT are merged, there can only be 999 HB NFTs.
To mint a B NFT, users must meet the “key opinion leader” requirements listed on the 1H1B NFT website. Examples of conditions include posting Twitter or YouTube content and tagging the Hacash Diamonds project. Once a KOL qualifies, the Hacash Diamonds team will audit the submission, mint B NFTs, and distribute it to the user’s wallet upon approval.
H NFTs are minted at the same time as B NFTs. To acquire an H NFT, users must register for a waiting list by donating a minimum of two HACD NFTs, obtainable through the Hacash website or OpenSea marketplace. When a B NFT is minted, the corresponding H NFT will be distributed to those on the waitlist in order of registration. Each wallet on the waiting list can receive a maximum of three H NFTs.
The 1H1B NFT series will offer NFT holders rights to participate in the forthcoming 1H1B DAO. Additionally, 1H1B NFT holders will earn a portion of transaction fees from trading 1H1B or HACD NFTs. Though, the reward distributions will decrease over time at a monthly cadence. Each NFT in the series has varying staking weight for rewards:
- H or B NFT: 1 stake
- HB different number NFT: 2 stakes
- HB same number NFT: 3 stakes
Looking forward, the 1H1B NFT collection will be available for trading on the GhostMarket NFT platform.
The full announcement can be found at the link below:
https://medium.com/hacash-diamonds/hacash-diamonds-and-neo-announce-partnership-to-drive-the-first-proof-of-work-nft-hacd-into-the-33ee38220f40
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
More posts by Dylan Grabowski