Kanon raises $1.92 million for charitable causes chosen by the artists of the K21 Collection

Kanon today announced the successful conclusion of the K21 Charity Token Auction announced on 5 November 2021. As mentioned in Kanon’s first post on 21 March 2021, Kanon set aside one million K21 tokens to donate to charitable causes chosen by the artists whose works were acquired for the K21 Collection.

At the request of certain artists, 595,235 of these one million K21 tokens were offered for sale to accredited investors and financial institutions via a Gnosis Auction. The auction started at a price of $0.88 cents per token and closed at $1.92 per token, raising a total of more than $1.14 million for the 595,235 K21 tokens that were made available in the auction.

Another 404,765 K21 Charity Tokens were sent directly to artists who chose to distribute the tokens directly to the causes themselves.

In total, Kanon raised $1.92 million for charitable causes through the K21 token, including the proceeds of the K21 Charity Token Auction and the K21 Charity Tokens distributed directly to artists (assuming the charity tokens distributed to artists were valued at the closing price of the auction of $1.92).

“We created Kanon to prototype what a new artworld could be, not just in terms of aesthetics and discourse but also agency and response-ability,” commented Kanon contributor @0xAnimist. “We began by helping to permanently preserve ~30,000 acres of cloud forest outside Machu Picchu with Art into Acres. Now we’re empowering our artists to orchestrate a sizeable gift economy and we’re just getting started.”

“We’d like to extend our deep thanks to all the auction participants,” added Kanon contributor @fastackl, “as well as to the K21 artists who made this incredible achievement possible. In a world where artists often have to donate their works in order to support institutions, creating a mechanism that allows them to simultaneously participate and give back is nothing short of revolutionary.”

K21 Collection: participating artists

Alex Mordvintsev, Arca × Frederik Heyman, China Tracy, COOL 3D WORLD, David OReilly, Filip Hodas, Hank Willis Thomas × Wide Awakes, Jenna Sutela, Mika Rottenberg and Mahyad Tousi, Liam Gillick, Pak, Paul Chan, Precious Okoyomon, Rachel Rose, Raoul Marks, Rebecca Allen, Rirkrit Tiravanija, Simon Denny, Sondra Perry, Suzanne Treister, Terrell Villiers.

About Kanon

Kanon is a collective of art, design, and cryptonative technology professionals dedicated to establishing enduring protocols and products for the art of the next 100 years. Kanon leverages the decentralized finance ecosystem to recast patronage, philanthropy, curation, and custodianship. In doing so, Kanon is creating a new model in which artistic expression, structural experimentation, and financial return are mutually reinforcing.

In March 2021, Kanon launched the K21 Collection, a closed-end art vault of 21 unique and original NFT artworks by a diverse roster of influential and pioneering contemporary, digital, and cryptonative artists. In August 2021, Kanon launched KSPEC, an open-source, permissionless protocol that provides institutional-grade provenance to any NFT and allows creators to make any NFT extensible and updatable.

To find out more about Kanon and its projects, please visit kanon.art, Medium, Twitter and Instagram.

For further information, please contact media@kanon.art