What is K21 (K21)?
K21 token is an ERC-20 token that powers the K21 NFT art vault. It enables holders’ participation in the K21 project. You can view the K21 price on the chart above to know how the token is performing today.
K21 is a closed-end NFT art vault. It provides liquid exposure to a curated collection of 21 unique NFT artworks. The artworks are created by various influential and pioneering contemporary artists.
The project uses an open-source protocol (KSPEC) to document and preserve digital arts on-chain. KSPEC extends the ERC-721 NFT standard to support the indefinite and transparent preservation of complex artworks, as well as their curatorial context and provenance. KSPEC also protects the identity and intent of the artist immutably. K21 is the first KSPEC-compliant NFT collection. The project also introduces the concept of XNFTs to ensure its collection remains unique and original.
Lastly, note that K21 employs a protocol that pairs equitable profit sharing for artists and the socially relevant causes they choose to support.
Use Cases of K21 Tokens
The K21 coin represents partial ownership of the vault art collection. K21 is not a governance token. However, it enables holders to vote against a buyout of the entire vault. The K21 Vault Contract and the K21 Buyout Contract are designed to support the potential purchasing of the vault. Any potential buyer can trigger buyout action by raising $21 million into the Buyout Contract. The token holders can vote against the bid and veto it at a 21% consensus.
Besides that, K21 token holders can participate in mining programs and liquidity pools to earn interest.
You can join the k21 NFT art vault community by buying K21 crypto assets. However, you should analyze the K21 price beforehand because it tends to change. The above live chart traces the K21 price at any time giving you up-to-date information.
Who Founded K21?
K21 is the first project of Kanon, a blockchain-based project created to establish new protocols for the art of the next 100 years. The project features some of the most experienced and renowned artists globally. Some of the artists include Alex Mordvintsev, David OReilly, COOL 3D WORLD, Hank Willis Thomas & the Wide Awakes, and Flip Hodas.
Tokenomics of K21
K21 has a maximum supply of 21 million tokens. The maximum token supply is a deflationary strategy that protects the K21 price. About 50% of the total supply was issued to purchase artworks and support social causes. Approximately 21% of the tokens were distributed to the community members through various mechanisms such as mining programs and liquidity pools.