What is 10KTF NFT? Cracking 10KTF NFT Secret

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?

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.