HashLand Coin (HC) calls itself the “first decentralised synthetic asset protocol” that combines NFTs and “hash rate assets”. HashLand claims that its synthetic NFTs are backed by the hash rate and generated through a minting contract, a mining contract or a purchase contract. This supposedly provides miners with useful assets, which are on the blockchain and can be used for different financial purposes, such as in its POOL, CREDIT, SWAP and AUCTION functions.
HashLand plans to reshape “the hash rate market” by securing NFTs with real-world assets, giving investors control over governance. HashLand seeks to combine the real world with the virtual world, all through the combination of NFTs and hash rates. In other words, it tries to back the minted NFTs with the hash rate of Bitcoin miners, thus giving the NFTs a real-world value to back them.
HOW DOES HASHLAND COIN (HC) WORK?
HashLand’s NFTs are used for its Hash Warfare game, a play-to-win role-playing game that uses the standard recipe of combining DeFi elements with NFT technology to create a game that is accessible to a wide audience. NFTs can be used to participate in a player-versus-environment, player-versus-player or boss mode that players can enter with others.
NFTs, which Hashland calls S-NFT cards, come in five different levels, with the higher level cards corresponding to a higher hash rate and stronger characters. Only level one S-NFTs can be purchased; higher levels must be obtained by leveling up by playing the game or by purchasing a blind box, which contains an S-NFT with different levels.
HashLand NFT cards come with four different character classes:
MT (Cavalry)
Gul’dan (Mage)
Hunter (Assassin)
Lady (Paladin)
Characters have different attributes such as Health, Attack, Speed, Defence and Crit. Each hero receives a unique set of abilities when minted, with their attack defined by their range, damage and special bonus damage. If the hero’s attributes match the special bonus damage, the hero will be able to deal more damage during battle.
Most importantly, HashLand claims that the NFT cards are guaranteed by the Bitcoin hash rate and the HC token hash rate. The project claims that users get Bitcoin mining rewards from NFTs, with higher rewards paid to higher level NFTs, as each NFT has a multiplier applied.
Heroes can be upgraded in a number of ways:
Playing the game produces HC tokens and other rewards that can be used to boost characters.
The in-game lottery can earn the player weapons, experience points and other items.
PvP mode supposedly earns even higher rewards.
The three basic game modes are Adventure Mode (PvE), Player Combat (PvP) and Guild Wars. In Adventure Mode, players unlock new chapters and earn tokens by fighting NPCs. Player Combat sees players fight against other players with attack and defence heroes. Guild Wars is a three-on-three player combat mode.
UNIQUE FEATURES OF HASHLAND COIN
HashLand’s most unusual feature is undoubtedly its proposed hash-rate NFT collateralisation. HashLand argues that through tokenisation of in-game assets with simultaneous collateralisation through Bitcoin’s mining power, NFTs can have a kind of price floor. The project sees the price deviation of NFTs between their intrinsic value and their speculative value as a problem, which is addressed by this mechanism.
HASHLAND COIN TOKEN USE CASES
HC is the platform utility token used as a reward for playing the Hash Warfare game. Hashland wants to incentivise players to participate in joining and developing its GameFi ecosystem by rewarding them with tokens in the various game modes.
HASHLAND COIN (HC) TOKENOMICS
The total HC supply is 21 million and is distributed as follows:
GameFi Farm: 45%.
Developer Reward: 10%
Pre-mined: 10%
Community airdrop: 2%
Airdrop contribution: 3%
LP Farm: 15% LP Farm: 15% R&D Ecosystem: 7% R&D Ecosystem: 7% LP Farm: 15% LP Farm: 15%
R&D Ecosystem: 7%.
7,200 HC are issued per day, with a “10% cut” implemented every quarter for three years.
HASHLAND COIN (HC) PRICE
Hashland (HC) currently trades around $10 as of February 24, 2022, down from its all-time high of $686 set in November 2021. Its 24-hour trading volume on the exchanges is around $353,000, and its fully diluted market capitalisation is just over $210 million.
HASHLAND COIN (HC) PRICE PREDICTION AND FUTURE OUTLOOK
The price of HC has taken a beating since reaching its all-time high, losing significantly more value than similar projects such as Axie Infinity. This indicates that the market has lost confidence in the project, making a price reversal very difficult in the currently difficult market conditions.
In addition, HashLand provides inadequate information about its team and tokenomics. While several credible projects such as SushiSwap have been launched by anonymous developers, HashLand does not provide any information about its team or the timeline for acquiring tokens. This makes it very difficult for new investors to trust the project, especially after a massive loss of value.
On the other hand, HashLand has a potentially interesting idea, but it is highly questionable how motivated the developers are to execute it. While it is certainly possible that HashLand will suddenly reverse course and trade higher, the project has many problems that need to be addressed.