Ethereum-based NFT project 10KTF was recently acquired by Emmy Award-winning art and design company Possible Productions known for its work on global events like Coachella and the Super Bowl Halftime Show.
The two entities have come together to form a new company—Kagami—and will now oversee the continued development of the project and its web3 innovations.
10KTF was originally founded by WENEW Labs in 2021 before Yuga Labs’ acquisition in November 2022.
Source: 10KTFWho is Possible Productions?
Founded in 2010 by Michael Figge, Possible Productions is a creative studio with expertise in art and design, working on some of the world’s largest events.
The company has also been a critical content partner for 10KTF since its launch, contributing to the project’s creative direction and development.
Additionally, Possible has played an active role in developing Yuga Labs’ Otherside, a popular virtual world in the web3 space.
Source: 10KTFWhat does this mean for 10KTF?
The 10KTF team, including key figures from the project, will move to Possible Productions as part of the newly established Kagami company.
The acquisition allows Kagami to focus on further building the 10KTF brand and developing innovative tools for the web3 space. Despite the change in ownership, 10KTF will continue to operate as a premier partner within Yuga Labs’ Otherside platform with several projects still on track.
Existing features like Wagmi-san’s shop will expand to the Nexus, the next stage of the Yuga World, and crafted items from the 10KTF ecosystem will remain interoperable within the Otherside metaverse. Additionally, the Grailed PFP collection will continue to be integrated into Otherside, giving holders access to in-game events and features.
Looking ahead, the next season of 10KTF is expected to be announced after ApeFest in Lisbon, where the team will provide a preview of their upcoming developments.
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