NFTs have become extremely widespread in the crypto market in recent years and have now joined the mainstream. Even in a bear market, NFTs present a good potential to make profits. This article is all about 10KTF NFT. Let’s take a look at what is 10KTF NFT and other details.
What are NFTs?
A Non-Fungible Token (NFT) is a cryptographically irreducible, checkable, and irreplaceable token that illustrates some entity, be it physical or digital, on a blockchain.
To be able to understand what Non-Fungible Tokens are, we must split the words that form it:
- Fungible: this word denotes a property, and offers something interchangeable. An illustration would be the fungible Dollar bill since one can offer it to someone else without changing its essence or value.
- Token: cryptocurrency tokens are digital assets, that describe something other than a financial value. An example would be devotion points, license of something else. Think of it as a reserve, but rather than having a license in a business, it can be owned in anything else.
NFTs are essentially digital ownership tokens, that operate on blockchains that support smart contracts, such as Ethereum. Their non-fungibility is equivalent to real-world agreements, where one can’t swap one contract for another, because the “real content” varies from each other. NFTs are also similar where one can’t change them as their based “contract” changes with each one, therefore they are non-fungible.
What is 10KTF NFT?
The 10KTF is an NFT that was launched on September 17, 2021. It presents distinctive metaverse wearables for users of particular NFT projects. The collection, which presently contains more than 18,000 NFTs was founded by Wagmi-san. According to the official website, the 10KTF NFT uses a purpose-built ERC 721 agreeing smart contract to allow users to prepare derivative NFTs from their current NFTs. The smart contract assures that only the existing owner of the NFT can build the derivative NFT and that only one NFT is minted for each related parent NFT. Each 10KTF item is special (1 of 1) and reaches one-to-one with the parent project NFT. So for a 10k project, there will only be a maximum of 10,000 interpretations of the item and only one of each interpretation available.
🚀🚀🚀 SUP 🚀🚀🚀 pic.twitter.com/WiihLWo0sb— beeple (@beeple) April 22, 2022
The project has now expanded to contain a complete timeline that contains Wagmi-san as the only shop proprietor. The shop owner is battling to keep his shop from being harmed or shut down by a mafia of frogs named Boss Toadz. With a direct affiliation with Beeple and a mixture of new metaverse-based projects, 10KTF is a special element of the NFT world.
Who is Wagmi-san?
pic.twitter.com/In5Rp2YsSZ— Wagmi-san (@10KTFshop) June 24, 2022
Wagmi-san is a world-famous craftsman. He is popular for most grailed accessories. Wagmi-san creates accessories for Apes, Cats, Wizards, and Toadz as per his mood on that particular day.
10KTF NFT was apparently a quick success yet not much is learned about the fate of this project. It quickly grabbed the attention of numerous big characters in the NFT world like Beeple. Amazingly, 10KTF can use many additional NFT communities when building these items which can likely be attributed to them gaining attention so quickly.
What is 10KTF NFT? and Who can create/mint items on 10KTF?
Its kinda bs that Wagmi-san has been crafting 22,222 items for months… and the shop gets trampled down by a kaiju and the people who are supposed to be giving protection have to wait until July 14. pic.twitter.com/AHZLrEobLs— Wagmi-san (@10KTFshop) June 30, 2022
Each item known in the 10KTF collection needs the user to hold the related parent NFT to build their derivative accessories. For instance, for Ape High Tops, only holders of a Bored Ape can design and mint an Ape High Top. Also, only one Ape High Top can be minted for separately Bored Ape, so there can be a maximum of 10,000 Ape High Tops built, one for each separate Bored Ape. In addition to the 10KTF collection, Wagmi-san’s clients that keep 10KTF Stockroom tools and materials can now utilize them to create blank items. Blank items can be utilized to build their preferred derivative NFT.
Blanks are digital objects composed by Wagmi-san that can be carried back to his store to be transformed into a final completed object with the skill of the user’s preferred parent NFT on it. The preferred parent NFT must be a collection backed by 10KTF, and users must hold the parent NFT in the same wallet as the blank.
At the time of writing this, the Wagmi-san can presently craft 10KTF blanks into concluded accessories for the following collections:
- 0N1 Force
- Bored Ape Kennel Club
- Bored Ape Yacht Club
- Cool Cats
- CrypToadz by GREMPLIN
- Gutter Cat Gang
- Mutant Ape Yacht Club
- Pudgy Penguin
- Forgotten Runes Wizards Cult
- Wolf Game
- World of Women
- World of Women Galaxy
Currently, the official 10KTF website only supports Metamask. To use 10KTF users should load the wallet that holds their NFTs into Metamask. The 10KTF can be purchased on OpenSea. There are 22.2K items available, the total volume is 10.3K and the floor price is 0.65.