Cryptocurrencies have grown exponentially since their dawn to become one of the most potential-rich and successful industries. Cryptocurrencies have created new opportunities for new blockchain projects while optimizing different sectors such as marketing, transport, art, music, jewelry, etc.
One of the best applications to come out of the blockchain so far is NFTs. NFTs can integrate physical assets into the crypto world and make them permanent. It helps address several issues such as property theft, copyright infringement, poor marketing capabilities, etc. Diamond Hands is a jewellery NFT collection by DESIRED that has designed 100 Bitcoin-inspired rings and tokenized them to create perfect memorabilia for the crypto world.
What are NFTs?
NFTs are non-fungible tokens that are assigned to physical assets such as a piece of art, music, sports memorabilia, and in the case of Diamond Hands, diamond rings. NFTs are non-fungible, unique, and assign permanent ownership as they are registered on the blockchain. These NFTs tokens can be sold, purchased, and traded for a different NFT or preferred cryptocurrency.
One of the best examples of the capabilities of NFTs was shown by UniSocks. UniSocks, two years back, launched a limited edition pair of socks that itself does not have much value. The real value was in the SOCKS token assigned to the pair of socks to facilitate trading. The SOCKS token operated on a bonding curve price mechanism where the price of the token increased after every sale. The initial price of a pair of socks was $12, but it grew and is currently traded at $65,000.
Diamond Hands works on the same sales mechanism and increases the price of IBWT (In Bitcoin We Trust) token by 6% on every sale to incentivize early holding.
Why Diamond Rings?
Rings are one of the most under-appreciated pieces of jewelry while being the most popular one. The founder of DESIRED and Diamond Hands, Roman Burch, is a jewelry expert who believes that jewelry is more than just a commodity. By creating an NFT collection of Bitcoin-inspired rings, Roman wanted to celebrate the importance of jewelry while giving tribute to cryptocurrencies.
The founders of Diamond Hands, Roman Burch, and Yevgeniy Sarayev believe in the potential of cryptocurrencies and want to create an NFT collection that can show their appreciation of Bitcoin’s journey. All the elements in the ring design represent the ideals of the founders and signify a part of Bitcoin’s journey.
“Our new limited-edition “diamond hands” collection is dedicated to the crypto world. I was inspired by the history of Bitcoin, how it integrated into our lives, how it stood up to all the economic patterns. I followed its ups and downs closely, waiting for the whole world to accept it finally. And in the first ring, In Bitcoin we trust, I tried to show this history, to convey the principles of diamond hands. Put ideology into physical form.” said Roman Burch.
The clearest design element signifying Bitcoin’s importance is Bitcoin’s logo engraved on the top of the ring with the ideals of cryptocurrencies (Peer to Peer, Decentralization, Anonymity, and Freedom) engraved on the circumference.
On one side, the words Satoshi Nakamoto (the founder of Bitcoin) and 2008 (the year Bitcoin was founded) are engraved with the legendary Great Wave off Kanagawa by Katsushika Hokusai, which represents Bitcoin sweeping away centralized finance.
All the elements of the ring, including Diamond and Emeralds, are chosen and placed strategically to represent a principle of the crypto world, such as sturdiness, solidarity, and transparency.
Diamond Hands also has a special surprise for all the token holders in the form of a secret message engraved under the ring in morse code. This message is hidden from the prying eyes and is a tacit reminder of the value and the power of cryptocurrencies.
Diamond Hands is an exclusive collection that only has 100 rings associated with the IBWT token. Anyone can purchase the token on Uniswap v3 and hold the token. As IBWT works with a bonding curve, the price of the token will increase after every purchase giving the most advantage to early holders. Token holders can redeem IBWT tokens to get a physical ring on the website.
Diamond Hands is a great initiative to celebrate the journey of cryptocurrencies to become a billion-dollar industry. Presently, the collection includes diamond rings but will soon add other articles such as watches and necklaces all inspired by Bitcoin.
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.