Bitcoin Vanity addresses are now emerging as NFT’s. As a pioneer in crypto investments in Switzerland, DECOM recently announced the first release of a nonfungible token (NFT) collection, known as BANITY, starting in a presale from November 25th. BANITY becomes the world’s first NFT collection of Bitcoin Vanity Addresses. Authenticity and ownership of a BANITY is tracked on the blockchain, while moving through collectors’ hands, the buyer has status as the official owner. Holding a BANITY, gives the owner the right to unlock the private key of the valid Bitcoin address when redeeming the token. A redeemed token is destroyed forever and can therefore no longer change hands.
DECOM generated BANITY as a collection, which one can buy and trade with these NFTs. According to DECOM, the collection is intended to increase awareness and understanding of Vanity Addresses. Vanity addresses are extremely difficult to find. DECOM compares these as “Diamonds of the Blockchain”.
Here for illustration purposes:
A Bitcoin address with a typical, somewhat random alphanumeric string usually looks something like this: 19QkdPsXeGAiGB5neeXc1JFpS1DKzuctrC
However, for example, 1ELoNMUsKgRrf5eTneidXmif2wyEcSrY7i is a Bitcoin Vanity address that contains a (8-digit) human-readable word.
|Digit/Char||Vanity||Mkey/s (Million key per second)||Estimated time with a 50% probability|
According to the team, a BANITY NFT is not about hype and is much more than just JPEGs or GIFs. A BANITY is a valid Bitcoin Vanity address that is searched through trial and error. The generation of vanity addresses requires a brute force algorithm, i.e., if there is no match with the desired sequence of letters and numbers, the algorithm generates a new random private key and follows the procedure again. This can be very costly to the individual generating this as it requires testing billions of key combinations. The following table shows how long a common vanity generator algorithm needs on a laptop or PC that is common today until a desired vanity address is found on average.
In order to generate a total of 1001 pieces of BANITY the use of specially developed hardware and software was necessary. Without the upgrade, this would not have been possible in this short time.
Investing in BANITY means buying a Bitcoin vanity address and selling it for more than your purchase price, all without revealing any information about its private key. Investors prefer “long” and / or “noticeable” vanity addresses that are very difficult to generate or that catch the eye at first glance. Vanity addresses are an investment opportunity for forward-thinking investors who are buying rare crypto addresses before everyone else does.
Our NFT collection brings a technology in other words crypto addresses that are inevitable in the crypto world, and makes the rare and most noticeable addresses tradable. As a crypto asset management company, part of our investment effort is to diversify the options available for crypto investments and expand them with new opportunities. Now that the trend in Bitcoin is steadily increasing, the use of ‘rare’ crypto addresses will increase.
Get your BANITY with your own Word/Name
BANITY will be available for pre-sale (November 25th to December 3rd) on the BANITY website and for public sale (December 15th) on Opensea.io. During the pre-sale, DECOM enables participants to share their creativity and immortalize themselves in the collection with their own prefix such as a specific name or word. A total of 600 silver cards (8-character addresses) will be made available for this. This corresponds to 60% of the total number of BANITY.
Gold cards, Black cards, and further card categories that can follow at any time, are not available for own prefixes. To participate, participants must register for the whitelist pre-sale by November 25th. The earlier you register for the whitelist presale, the higher up you stand in line to get a BANITY with the desired prefix. The BANITY collection does not contain duplicate prefixes. Whoever is higher up in line, receives the prefix.
The entire collection will be completed on December 15th, allowing all 1001 BANITY NFTs to be minted. The public sale goes live on Opensea.io on December 15th.
DECOM was founded in Switzerland in 2017. Under its mandate, the company manages client assets in the field of blockchain technology, cryptocurrencies and digital assets. For more information: https://decom.ch/en
BANITY is generated by DECOM Switzerland AG. BANITY is an NFT collection of 1001 Bitcoin Vanity Addresses.
- BANITY team contact: firstname.lastname@example.org
- For BANITY Presale register here: https://banity.com/presale/
- For the latest news about BANITY make sure to follow: TWITTER |DISCORD
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