It’s widely believed that the NFT ‘bubble’ is ready to burst — yet here we are. So what is keeping this digital phenomenon alive? The key to understanding this lies in how value is being remoulded with blockchain technology. Many collectors and newbies in the space prefer to prioritise more traditional notions of value: aesthetic, community, utility, and enjoyability.
Consequently, the market is over-saturated with avatar projects, with the same characters and the same in-jokes time and time again. There are others however who seek to challenge this paradigm, creating NFTs that push the boundaries of value.
Projects such as EtherRock have garnered a loyal community of supporters who understand that value is assigned, not inherent within something. In other words — are we at a point where anything can be considered valuable? It may sound like a strange concept, but then again this idea was almost impossible to achieve before the introduction of the blockchain and the DeFi philosophy in general.
Many people find the existence of a pet rock worth $250,000 ridiculous. This is because it successfully subverts our idea of how much something can be worth. This playful abstraction of value is the lifeblood of BitMars.
The primary function of BitMars is to store value long-term. A finite amount of 6441 unique ERC-721 plots measuring 32x32 pixels will be minted, each with randomly and variably assigned rarity attributes, such as water, gold, opal, etc. When you first receive your randomly selected plot, you’d be forgiven for thinking that it’s just a block of pixels — it is. The irony of selling plots of pixels on a cuboid Mars is not lost on us.
BitMars is a commentary on the joyous absurdity of NFT culture and provides a fresh format for asset creation. Fundamentally we are interested in curating a community of adventurous, innovative, and progressive investors, who want to take DeFi to its ultimate conclusion — the upheaval of all preconceptions of value.
BitMars will capitalise on the dormant beast which is real estate NFTs. Although we won’t be selling literal plots on Mars (it’s a cube remember), we are utilising the concept of land division, where each owner will acquire a fraction of BitMars.
On earth, buying land and discovering gold, oil or other useful materials is a well-known cash cow. On BitMars this principle remains, with any number of plots containing rare combinations of valuable resources. Once all are minted, we hope to facilitate and stimulate the trading of plots and resources, much like the traditional real estate market.
Once capacity is reached it will be time for us to re-fuel the rockets and explore the galaxy in search of new territories. BitMars is proud to be part of an NFT community that embraces the idea that value can be stored in anything, even if its 1024 pixels of BitMars.