K-Auction Launches First NFT Work Through Subsidiary Artforms
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A view of the K-Auction building.
K-Auction will start selling its first video NFT and work in collaboration with Line Next.
Art auction company K-Auction (CEO Do Hyun-soon) announced on the 9th that it will launch Oh Myung-hee's work as NFT in collaboration with Line NEXT Inc., a global NFT (Non-Fungible Token, hereinafter referred to as NFT) platform subsidiary of the global messenger platform "Line."
Writer Oh Myung-hee's work is called "Zenith – Center of Radiant Life," and video NFTs and works will be sold together on the global NFT platform "DOSI" from the 9th.
Video NFT is a video work inspired by the won and will be released for the first time in "DOSI." The video NFT of "Zenith – Center of Radiant Life" and the original work will be sold for 75 million won, and users can purchase NFTs through Ethereum after signing up for DOSI Wallet.
A K-Auction official said, "Users who purchase NFTs can later receive the original work from the K-Auction Museum, which is a unique opportunity not only for art collectors but also for existing users."
An official from LineNext said, "We will combine fine art and NFT through collaboration with K Auction to provide users with a more diverse NFT experience, and furthermore, we will hold various events to make it easier for users to access art and NFT."
Zenith - Center of Radiant Life is one of a total of three pieces in which thousands of mother-of-pearl sculptures gather and shine gracefully, and petals and weavers scattered around a pair of peacocks looking at each other harmonize with the sound of Korean traditional music, capturing the praise and beauty of life.
CEO Do Hyun-soon of K Auction said, "STO's full permission is expected to rapidly expand related businesses such as NFT and art sculpture investment," adding, "We will continue to strengthen strategic cooperation with LineNext, which is leading the popularization of NFTs, to contribute to the revitalization of the art market and the globalization of Korean art."
Meanwhile, K-Auction plans to launch an "ART Aggregator" service for art collectors and investors in the first half of 2023 through its art tech subsidiary "Artforms." Through this service, Artforms plans to provide the fairest and most appropriate information, optimized for art sculpture investment, STO, and the payment of art in kind (tax payment as art) to begin in 2023.
