Aiming to seize the NFT market with significant future value.
Ensuring artwork accessibility through SNS synchronization.
“We will strive to enhance the future value of art.”

A new platform that integrates NFTs into the online art, or art content, market is launching in Korea. ARTTOKEN, an all-in-one platform that integrates digital art e-commerce and NFTs, has developed a media tech blockchain platform.

Through ARTTOKEN, artists can tokenize their artwork into NFTs and gain recognition of its value. Consumers can also directly trade artists' works on the platform. This aims to open a new art distribution market. Furthermore, it offers automatic connection services to SNS (Social Networking Service) such as Instagram, allowing works uploaded by individual artists to be traded within ARTTOKEN.

Notably, ARTTOKEN was recognized for the platform's future value, recently succeeding in attracting approximately 2 billion KRW in investment from L&S, venture capital, and others. Hong Ji-sook, CEO of ARTTOKEN, explained, "ARTTOKEN will focus on NFT artwork and strive to resolve copyright and intellectual property issues for artists to create digital asset value," adding, "We plan to utilize the uniqueness of digital artwork to establish a new chapter in the NFT artwork distribution market."

NFT is a general term for unique digital items tokenized on the blockchain. It is translated as Non-Fungible Token. For instance, consider two Mona Lisa paintings. One is the authentic piece, while the other is a forgery. While the physical aspects, such as the painting and size, are identical, their value is entirely different.

ARTTOKEN homepage. / ARTTOKEN

Digital works are highly susceptible to intellectual property infringement because they are easier to copy than physical pieces. However, NFT works offer the advantage of making reproduction nearly impossible by tokenizing the artist's digital creation onto the blockchain, thereby enabling authentication of the original piece.

The NFT market size has recently been growing exponentially. Consequently, ARTTOKEN plans to conduct various collaborations, not only with domestic artists but also with international artists, targeting the global market.

ARTTOKEN is collaborating with Gana Art to promote domestic artists internationally, planning to jointly operate a Viewing Room in Los Angeles, USA, for artist promotion. CEO Hong stated, "We aim to create a healthy art ecosystem where the value of art is recognized globally and artists' legitimate IP rights are guaranteed," adding, "We will work toward creating a society and generating economic value where art possesses future value."

Reporter Kim Hyun-woo.

Source: Women's Economy Newspaper.

https://www.womaneconomy.co.kr/news/articleView.html?idxno=205691