For Information Purposes Only
Disclaimer: Information provided within this post is provided “as is” without warranty of any kind, either express or implied, including without limitation, warranties of merchantability, fitness for a particular purpose, or non-infringement. As part of the requirements of the K21 Charity Token Auction, all participants must be an accredited investor as defined in paragraph (1), (2), (3) or (7) of Rule 501(a) of the Securities Act, and have knowledge and experience in financial and business matters and be capable of evaluating the merits and risks of their investments and be able to bear the economic risk of such investments.
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 have been acquired for the K21 Collection.
At the request of certain artists, 595,235 of these one million tokens will be offered for sale via a Gnosis Auction with a minimum initial price of $0.88 per K21 token.
Financial institutions and accredited investors will be invited to compete in the auction. If you are an accredited investor or financial institution and would like further information on how to participate, please contact info@kanon.art with the subject: “K21 Charity Token Auction”.
Note that while we will endeavor to generate as much demand as possible for the auction within the compliance constraints that we are subject to, and that while we expect the final auction price to rise and converge with the market price of K21 tokens, we cannot predict the ultimate result of the auction.
The auction contract has been deployed, with an auction end date of 17 November 2021 at 12:00 UTC. You can track its progress here. Tokens sold in the auction will be freely tradable after auction settlement.
All USDC proceeds of the auction will go to the charitable causes of the artists’ choice.
A further announcement will be made soon after the auction has concluded.
