Did you know that you can get your own customized Bitcoin Wallet Address?
Not only that, but right now there’s a first of its kind opportunity to get it as a Non-Fungible Token (NFT) that you can trade on the biggest marketplaces like Opensea for instance, but let’s start with what is a Vanity address for those who aren’t familiar.

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As you know, a Bitcoin address consists of alphanumeric symbols – a string of 26–35 characters which is also known as public key and which is derived from your private key.
The public key is the Bitcoin address you share with others in order to send and receive bitcoin and often it also comes in the form of a scanable QR code for ease of use.
However, it is impossible to remember your Bitcoin address due to its complexity and non-user friendly format. So, to make things easier and more fancy, if you wish, some services provide users with addresses that are customizable – you can choose the first few symbols and thus, you can have a more memorable or user-friendly looking wallet address that you share with your friends or customers etc.

And since we are in 2021, and the NFT wave is making quite a splash, there’s now even bitcoin vanity addresses that are minted as NFTs – a digital certificate that allow you not only ownership, but also selling it for profit. 
Indeed, this year gave a huge preference to anything that is being developed in this sector, and Vanity addresses are no exception. They are not easy to create and they can contain more characters than an auto-generated address – thus making them resilient to hackers. From my research I found out that most investors prefer vanity addresses that are either longer and more complex or easier ones that are more noticeable and attract the eye at first glance.
This is why Vanity addresses can an investment opportunity – I can compare this market to the website names that many people are trading – if you have ever tried registering a new domain for a new idea you just had, you know what I mean. Pretty much every cool name, every common word that you might want to use is already taken – I even had to put a dash on my crypto corner web domain for that same reason. So, the point I’m making, is that trading memorable addresses is not a new game, it’s been a well-established business for many years already and not surprisingly, Bitcoin Vanity Addresses are a hot property too.

Banity offers an unlockable NFT of a Bitcoin vanity address with certain starting letters that spell out words. After the leading number “1”, each Banity has at least 8 human-readable letters in its set of alphanumeric characters. Of course, the first letter – which is the digit 1 cannot be replaced as it indicates a Bitcoin address.
Each blockchain has its own starting letter or digit that distinguishes it. For Bitcoin it’s 1 or 3, for Ethereum it’s 0x, for Litecoin it’s M and so on…

So what Banity has done, and quite cleverly I think, is to combine NFTs with Vanity Address creation.

As you know, an NFT is basically a digital certificate of ownership, therefore it can be attached to anything and this gave birth to a thriving industry, which exploded this year with many record-breaking sales mainly in the collectibles niche but also in the gaming and the art world and we saw mainstream brands like Coca Cola, NBA, Walt Disney and many others enter this space already.

As a matter of fact, the NFT sector which came into existence in 2017, has grown much faster than blockchain itself. It took blockchain technology almost 8 years to become acknowledged by the mainstream – it was back in 2017 that the first wave of blockchain mainstream adoption began. Bitcoin’s first transaction occurred in 2009, so yeah, it took 8 years pretty much.

NFTs on the other hand, 3 years in, and it’s now the biggest trend. Everyone’s talking about them and the industry is growing with the speed of light.
So, Banity is positioned right in the centre of this booming industry with their collection of 1001 vanity addresses that come with their own tradeable Cards.
These NFTs are built on Ethereum– in other words, your ownership is recorded in smart contracts on the Ethereum blockchain. They use the ERC-721 standard and, as such, can be transferred freely amongst Ethereum wallets and be bought and sold on multiple NFT marketplaces such as Opensea, Rarible and others.

The authenticity and ownership of a BANITY are tracked on the blockchain as it passes through the hands of collectors, with the buyer taking on the role of official owner.

When redeeming a BANITY, the owner has the ability to unlock the private key of the valid Bitcoin address. A redeemed token is permanently destroyed and can no longer be traded. This also leads to scarcity.

You’re basically buying a Bitcoin vanity address and then selling it for a profit, all without disclosing any information about the address’s private key. This is really important, as I pointed out – each address is derived from a private key, so you want to be certain that this private key has not been disclosed to anyone else apart from the owner.

So, who is behind Banity?

It’s a crypto asset manager based in Switzerland called DECOM, established in 2017. They created BANITY as a collection of 1001 NFTs.

All private keys are stored securely and encrypted by DECOM Switzerland AG in Switzerland. This gives us a peace of mind – knowing that it’s a Swiss-based company, regulated and licensed in one of the toughest European jurisdictions. They are a member of the The Financial Services Standards Association in Switzerland which is recognised by the Federal Financial Market Supervisory Authority (FINMA) – the Swiss financial regulator.

I found out that Banity is about to start selling these 1001 NFT vanity addresses next week, so I think we got this just in time, before they start – I hope you’re watching this video right as it’s out – if you’re subscribed, then you have an advantage of course. Don’t sleep on it.
These are fundamentally different from most other NFTs. We mostly hear about art NFTs or the collectible card NFTs – their images are all over the internet and many people rightly ask what’s the point of paying hundreds of thousands for these when anyone can download the image if the image is what they want to own… Well Banity offers real, valid Bitcoin vanity addresses and makes them tradable – these are not gifs or jpegs that you can simply download and replicate, they’re uique vanity address that are very hard to find. The longer, the harder, and unless you are the owner of one of these, you cannot unlock the address, so this is what makes owning the Banity NFT cards valuable.

As I mentioned generating a vanity address is rather complex. It requires a brute force algorithm and 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. The difficulty of generating a desired vanity address lies in the number of addresses that are needed to be tested on average.
Given that the difficulty increases exponentially the longer your vanity is, so does the average time required to find that vanity. This could take hours, days or even years. The time requirement is exponential in the number of characters you’re trying to find. This makes finding vanity addresses a very computationally intensive problem. A home computer would have to take years to generate a long vanity address. This is because the process of finding this address would require billions of public&private key pairs to be generated and then converted to the bitcoin address format — discarding any that don’t provide the desired result.

This is why Banity have designed software and hardware specially developed for this.

So, Banity is offering 1001 unique vanity addresses each of them coming with its own NFT certificate and the best part – you get to choose your own prefix. When you register for the presale which begins on 25th November, you get to choose an 8 character-long prefix – this could be anything you like – it can be your brand name, your social media nickname … anything really…

The reason for the Banity collection to offer 8 customizable characters is because starting from this vanity length it makes it extra difficult to achieve the desired result. Most of the websites that offer vanity addresses only give you up to 4 or 5 customizable characters and the computing power of a normal computer can find a vanity address with up to 7 characters, so that’s not unique in any way. Also, to generate an address with more than 4 characters becomes very expensive with the services I’ve seen so far – VanityGen is the most well-known so far and they charge 0.0195 for this which right now comes to 1153 dollars. Banity addresses are less than half this price.

There are only 600 of these that will be available at presale, the other 401 will be minted and released at the public sale but only the Silver Cards are reserved for the community to generate a Banity with their own preferred prefix. Gold cards, Black cards, and the other ones will not offer the customisation option that you get for the presale. In order to participate, we have to register for the whitelist pre-sale. The search for the 8-char vanity addresses begins on November 25th until the 600 prefixes are found.

The maximum search duration is set at 7 days – meaning until December 3.
All prefixes found will be included in the Silver Card collection.
The sooner you register for the whitelist presale, the higher up you stand in line to get a Banity. The Banity collection does not contain duplicate prefixes so to secure your desired vanity address, I’d say it’s best to act fast.

You can register fro the pre-sale and choose your own 8-char prefix on their website: https://banity.com/presale/

The presale is off-chain. No Banity NFT will be minted during presale. On the day that the NTFs are minted, the Banity NFTs are transferred to the wallets.
When you get the NFT token that contains the vanity address you can choose to redeem that address or if you’re buying it purely for profit, then you don’t want to redeem that address, you will keep it intact so you can re-sell it of course. As soon as someone decides to redeem the token in order to get the private key of the Bitcoin vanity address, the token is destroyed forever, which means that the token has a hyperdeflationary characteristic.
Every holder of a Banity NFT can see the front of the card, which is also visible to the public.

By keeping a Banity in their wallet, the holder has the right to redeem the NFT in order to receive the private key. The private key placed on the back of the card is only revealed to the BANITY holder.
The Banity website will enable NFT redeem function that will release the hidden private key of the Bitcoin Vanity address and according to their lead developer, this feature should be ready by February 15th.

So, as I mentioned, the private sale is off-chain, it’s not open to the public, you have to register for this. According to their roadmap the public sale is going to be from 15th December and will go live on Opensea – the biggest NFT markeplace.

Another point I want to make here is that Banity is a deflationary NFT collection. With just 1001 minted in total, the more Banity NFTs that are redeemed, the scarcer the collection becomes.

This is an important feature that makes these more valuable and being the first NFT product that offers vanity addresses gives them the first-mover advantage – much like the Crypto Punks that today are selling for ludicrous amounts – it’s due to their scarcity of course and with a little bit of luck, we have the opportunity in presale phase to generate our own Banity with our preferred prefix.

To find out more, here are their official links:

• Website: https://banity.com/
• Presale: https://banity.com/presale/ 
• Discord: https://discord.gg/arMDFkQgzU 
• Twitter: https://twitter.com/BanityNFT 
• Instagram: https://www.instagram.com/banitynft/


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⚠️ DISCLAIMER ⚠️

The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this video reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.

This information is what was found publicly on the internet. This information could have been doctored or misrepresented by the internet. All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.

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