K21 K21

K21 refers to a collection of NFTs (non-fungible tokens) that are stored in a vault. It is not a governance token, but token holders have the right to vote against a buyout of the entire vault through a bid function. If a 21% consensus is reached to veto the bid, the tokens holders will receive a share of the proceeds and the NFTs will remain in the vault. The K21 collection includes NFTs created by established and emerging artists in the digital art world. Additionally, Kanon, the platform behind K21, recently raised $1.92 million for charitable causes chosen by the artists of the K21 Collection.

K21 is unique compared to other cryptocurrencies for several reasons:

1. Limited Token Supply: There will only ever be 21 million K21 tokens, making it a scarce and exclusive digital asset.

2. Partial Ownership of Vault Collection: Each K21 token represents partial ownership of the vault collection, which consists of valuable artworks. This allows token holders to have a stake in the collection and benefit from its value appreciation.

3. Social Impact: Roughly half of the token supply was used to purchase artworks and support social causes. This means that by owning K21 tokens, investors are also contributing to important social initiatives.

4. XNFTs: K21 introduces the concept of XNFTs, which are additional serial NFT artworks created by the same artists in the vault collection. This expands the range of unique and original artworks available to token holders.

5. Equitable Profit Sharing: K21 employs protocols that ensure equitable profit sharing for artists and the causes they support. This aligns the incentives of artists and investors, creating a mutually beneficial ecosystem.

6. Voting Rights: Although not a governance token, K21 carries the right to vote against a buyout of the entire vault collection. Token holders can veto a bid with a 21% consensus, ensuring their voice is heard in important decisions.

These unique features set K21 apart from other cryptocurrencies, combining art, social impact, and investor benefits into a single token.