Terra Virtua and Hashmasks Unveil ‘Rolling Royalties’ Model as Joint NFT Collection Sells Out within Minutes

LONDON, UK / ACCESSWIRE / May 5, 2021 / Terra Virtua and Hashmasks have teamed up to offer a unique collaborative line of NFT collectibles called the vFlect Hashmasks. The collection combines Terra Virtua’s signature vFlect robots with the iconic Hashmasks, creating a new and unique NFT.

Terra Virtua recently published a waitlist for The Hashmasks owners to apply to license their Hashmask for this collaboration. For the week leading up to the release, over 120 people were on the waitlist with over 500 masks in the queue. On the day of the first drop, Friday, April 30th, all 73 Hashmasks sold in less than 5 minutes – the fastest ever sale on the Terra Virtua marketplace.

For what is believed to be the first time in the NFT industry, owners of the Hashmasks NFT will be entitled to a part of the royalties and sale proceeds from the vFlect Hashmask collection. This creates a ‘rolling royalties’ structure that allows Hashmask holders to profit from a tertiary NFT asset, drawing value from another ‘parent’ NFT asset.

There are over 16,000 Hashmasks in existence, each with many hidden characteristics. Combined with the unique features of each vFlect robot, the collaboration could result in millions of possible creative combinations. In the coming weeks, additional vFlects Hashmasks will be released on the Terra Virtua website, as announced on the drop schedule.

“We believe that the vFlect Hashmask collection is an amazing example of the power of multi-platform collaboration,” said Jawad Ashraf, Co-Founder and CTO of Terra Virtua. “Letting the community create and earn from these NFTs is a first in the industry, and I expect we’ll see more and more of these collaborative NFT drops – including from us.”

“We’re thrilled to be leading the charge in creating new and exciting ways to create art,” said John Doe, founder of Suum Cuique Labs/[Hashmasks]. “Each Hashmask is truly unique and subjectively valuable to each of its holders. Combining them with a vFlect robot not only opens up even more ways to add meaning and beauty to them, but also allows NFT owners to monetize their works of art like never before.”

The Terra Virtua project is an NFT collectible marketplace and ecosystem that focuses on engaging holders and providing ways for users to interact with their treasured possessions. Terra Virtua allows NFT holders to display, and interact with their NFTs by using Augmented Reality, and 3D representations on both PC and mobile. Its vFlect series of collectibles is one of the platform’s most popular virtual items, treasured for their unique styling and thematic outfits. In addition to the 3D digital figures, Terra Virtua offers a platform for selling branded pieces of virtual 2D and 3D art.

About Terra Virtua

Terra Virtua is an entertainment-focused Collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in Augmented Reality, Virtual Reality, and in 3D on PCs. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities.

About Hashmasks

Hashmasks is a living digital art collectible created by over 70 artists globally. It is a collection of 16,384 unique digital portraits. Hashmasks was developed by Suum Cuique Labs from Zug, Switzerland.

CONTACT:
Dan Edelstein
pr@marketacross.com
+972-545-464-238

SOURCE: Terra Virtua

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