K21Price

(K21)

K21 is an ERC-20 token that serves as the native asset for the K21 Collection. It represents fractional ownership of a decentralized "closed-end art vault" managed by the Kanon collective. The vault contains 21 unique, high-value 1/1 NFT artworks from world-renowned digital and contemporary artists. The project is designed to provide holders with liquid exposure to a curated, high-value art collection that might otherwise be inaccessible to individual participants.

The project was developed by Kanon, a pseudonymous collective composed of art curators, blockchain developers, and institutional professionals. They operate anonymously to maintain focus on the protocol rather than individual identities. While some online listings mistakenly link K21 to the KIRA Network, they are entirely separate projects; the official K21 token is strictly part of the Kanon.art ecosystem.

A core feature of the project is its "Buyout Contract," which allows the entire 21-piece collection to be sold. Any participant can trigger an auction for the full vault by depositing a specific, pre-determined amount. This mechanism ensures that the collection remains liquid and provides a pathway for the underlying value of the artwork to be realized and distributed to token holders if a sale is finalized.

K21 holders possess a critical Veto Right regarding the liquidation of the vault. If a buyout is triggered, holders can block the sale if a 21% consensus is reached. If the veto fails, the collection is sold to the bidder, and the vault is liquidated. In this event, K21 holders are entitled to receive a pro-rata share of the sale proceeds. While it is not a traditional DAO token for daily tasks, it provides essential governance over the vault's exit strategy.

The vault includes works from 21 luminaries such as Pak, Arca, David OReilly, Cai Guo-Qiang, and Simon Denny. To ensure long-term accessibility, Kanon created "KSPEC," an open-source standard for on-chain art preservation intended to keep works "museologically sound" for over a century. Additionally, the ecosystem includes "XNFTs," which are serial artworks by the same artists that extend the original pieces and often contribute revenue back to the artists or the ecosystem.

The total and maximum supply of K21 is strictly capped at 21,000,000 tokens. Distribution included allocations to the artists as payment, community distribution through liquidity mining, and one million tokens dedicated to charitable causes. K21 can be traded on major digital asset platforms, including LBank. Users are advised to verify the official Ethereum contract address (0xb9d99c33ea2d86ec5ec6b8a4dd816ebba64404af) to ensure security and avoid potential scams.