One by one, the hands of a master... 1,500 NFT masterpieces were sold
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Applications for the first Korea NFT Digital Art Exhibition (hereinafter referred to as NFT Exhibition) have been closed. More than 1,500 works gathered during the application period, which took place from January 13 to February 28. The competition rate easily exceeded 30 to 1. Various works have been poured out, ranging from pixel art that prints dots one by one to abstract paintings using electronic pens.
The NFT Competition was held by Maeil Business Newspaper to discover new writers who will lead the "digital art trend." Like Gogh, who strongly influenced the flow of expressionism in modern art, the focus is on finding an artist who will lead a new art trend like Picasso, who newly opened the modern art era with a three-dimensional style. The competition is hosted by Maeil Economy and organized by Yellowstone and M-Block Company. In addition to Dunamu, it is sponsored by the Korean Federation of Arts and Culture Organizations, the Korean Art Association, FSN, 300 Feet, Plume M Tech, TALKET, the Korean Designer Council, Gallery U.H.M., and The One Art World.
The response was hot from the first day of the competition. Applications flocked right after the start of the contest. Over 1,500 works came in for about 50 days, reaffirming its reputation as the nation's largest "NFT Art Competition."
After finalizing the received works, the screening process will begin a total of three times. Candidates selected after the first and second rounds of screening will be selected as final winners such as grand prizes, gold prizes, and entry through the "PT interview" method in the final screening scheduled for the end of March. The artist must directly explain the intention and meaning of the painting to the judges. The organizers formed a panel of judges with prominent figures in the domestic art and NFT fields to select the best works that combine artistry and box office success.
The prize money for the competition is a total of 28 million won. One grand prize winner will receive 10 million won in prize money and a plaque, and six gold prize winners will receive 3 million won and a certificate, respectively. Among the gold awards, the FSN Award (Sunmiya Club NFT) and the 300-foot Award will be selected from among works using intellectual property rights (IP). The FSN Award will be awarded to the highest-rated work among the second creation of Sunmiya Club's unique IP "Miya of the Planet." The 300 Feet Award will select the winner from the second IP creation of sports stars Lee Dae-hoon (Taekwon-do) and Nam Hyun-hee (Fencing).
In particular, all 50 award-winning works are given the privilege of being published as NFTs after their works and writers are introduced through Maekyung Economy pages and online. Maekyung Economy introduction is held twice a week. Since then, works have been made into NFTs and listed on Upbit's NFT marketplace, the largest virtual currency exchange in Korea, and transactions will take place. Proceeds from the transaction are distributed to writers and organizers.
