10KTF NFT Review: Team, Utility, Roadmap And More
While there are many NFT derivative projects in the space today, 10KTF definitely seems like the one to beat. Led by a strong team, 10KTF has the backing of a strong community as they continue to build their NFT ecosystem in New Tokyo. Here’s an in-depth review of the 10KTF universe.
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What Is The 10KTF Project All About?
As mentioned earlier, 10KTF is an NFT derivative project. Basically, the team creates creative accessories based on the existing intellectual property from a selected list of NFT projects. Owners of these projects can submit their NFTs to get a one-of-one 10KTF NFT, which will only be created once.
Currently, the supported projects include BAYC, BAKC, MAYC, Cool Cats, CryptoPunks, CrypToadz, Moonbirds, World of Women, World of Women Galaxy, ON1 Force, Gutter Cat Gang, Meebits, Nouns, Pudgy Penguins, Wolf Game, and Forgotten Runes Wizards Cult.
To mint a 10KTF NFT, owners of the supported parent NFT need to submit a blank item and the parent NFT. Blanks come in the form of Level 1 (10KTF Genesis/Crafted collections) and Level 2 (10KTF Combat collection). Level 1 items include High Tops, Daypacks, Hats, Hoodies, and Socks, while Level 2 items include Helmets, Kevlar Vests, Boots, and Weapons.
Who Is Behind The 10KTF Project?
WENEW, the company behind 10KTF has footprints all over the blockchain space. To date, they have active partnerships with TIME, Universal Music Group, Warner Music Group, and several other entities. In addition, they are backed by some of the biggest names in the industry such as FTX, Ripple, Polygon, Animoca Brands, Coinbase Ventures, and Alameda Research.
Wagmi-san is the friendly face of 10KTF, a world renowned craftsman famous for the most grailed accessories. But behind this beloved character is a team of industry veterans that the NFT community has come to trust. The fully doxxed team members include:
Beeple (Mike Winkelmann): Co-founder
Tim Smith: Co-founder
Guy Oseary: Co-founder
Paul Billings: COO
Randy Chung: CTO
Tim Thompson: CFO
Christine Lawton: General counsel
Lisa Kang: VP of production
Lindsay Ezykowich: VP of partnerships
Roy Chung: Executive producer
Ryan Chung: Executive producer
Joseph Kim: Principal engineer
Andrew Lee: Senior software engineer
Jonathan Wang: Blockchain engineer
Neil Simpson: Senior software engineer
Wilbur Han: Head of product
Robin Har: Head of design
William Hess: Community manager
Diana Chang: Community coordinator
10KTF NFT Official Links
What Is The 10KTF NFT Utility?
Besides being a kickass accessory for the parent NFT, owning a 10KTF NFT has its own unique utilities as well. Given that there will only be one variation for each parent NFT, 10KTF NFTs have a relatively high rarity. Apart from that, Wagmi-san is promising significant value for all holders such as token drops and perks beyond the metaverse. Could physical merchandise be next?
Another important utility of these NFTs is the access into Battle.Town. This is an event platform where 10KTF owners can use their NFTs to join missions in the ongoing battle for New Tokyo. Players can earn Storypoint badges, Stockroom Materials, physicals, and even ApeCoin by completing these missions.
What Is The 10KTF NFT Roadmap?
In August 2022, the 10K Frens Foundation adopted ApeCoin for use in the 10KTF ecosystem. With this integration, users can now use the tokens to mint Level 1 and Level 2 items, gain access to future experiences, and redeem physicals. Holders will have until September 2022 to claim their tokens. This integration will also support the plans that Wagmi-san has for the 10KTF ecosystem.
Moving forward, the team will continue to forge new collaborations both in the digital and physical space. For instance, Puma is up next as they see digital goods as an extension of their physical products, bringing an additional level of experience to its community.
10KTF NFT Price - How Much Do They Cost?
For starters, minting blanks is free. Owners of the parent NFTs only need to pay a bit of ETH to cover the gas fees. For Level 1 finished items, owners will have to fork out 20 $APE, excluding the gas fees. Whereas Level 2 finished items will require a combat blank plus gas fees.
At the time of writing, there are around 5.6k owners with 22.2k NFTs. The floor price of the secondary market sits at 0.61 ETH with a total trading volume of 10.9k ETH. The low volume does not come as a surprise given that only the owner of the parent NFT can generate the derivative, and buying a derivative on the secondary market without the parent seems like something is missing.
The current 10KTF floor price is: