HODL

bouze・2022

The term HODL is slang used in the crypto community to refer to long-term holdings. This work expresses the subjective value felt by the owner, as opposed to the objective value determined by the market, through the experience of owning NFTs over time.

In 2021 and 2022, the NFT market experienced a speculative boom, with a lot of buying and selling on OpenSea's leading NFT marketplace, where prices determined by the market (objective values), such as floor prices and bidding prices, were valued like the value of a work of art. HODL is a smart contract.
The HODL uses a smart contract mechanism to eliminate this objective value and bring awareness to subjective value.

The light of this NFT grows in proportion to the time it is owned. However, when the NFT is transferred to another wallet, the size of the light is reset by the rules defined in the smart contract. (And of course when you sell the NFT.) In other words, the size of the light and the time you have owned it have no objective value. However, if you own the NFT for a long time, you will feel the value of the increased light and the time you have owned it. This is the subjective value we are trying to express in HODL.