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[Blockchain Today Reporter Jeong Seung-won] Art-Tech startup Hicoder, which operates AEX, an art asset exchange, announced on the 1st that it will apply NFT (non-replaceable token) to the platform.
Art Asset Exchange AEX (AEX) was born with the vision of “creating a YouTube for the art world,” and will establish itself as the first art asset trading platform in Korea.
According to the company, AEX is currently pursuing the application of a rapidly growing non-replaceable token (NFT) to the platform.
Art works registered in AEX are tokenized into NFT (Non Fungible Token) and digital ownership is guaranteed by blockchain technology. Works can be jointly owned through the split transaction of NFT tokens. Since the works owned in this way are consigned and managed by AEX, consumers can enjoy the effect of holding both digital and real ownership at the same time.
AEX plans to use works that are entrusted to be useful in various ways. An AEX marketing official said, “We will create and distribute collaboration products through rental and license use to generate profits and distribute them to co-owners.”
This is not the only innovation at AEX. AEX also provides various indicators such as price fluctuations, transaction volumes, and sales rankings of art assets registered through the platform. Customers can sell or buy public artworks on the exchange, which can be converted into cash at any time. For example, a piece of art can be divided by at least KRW 10,000, and one can be jointly owned, which can be sold again when the price increases.
A representative from AEX said, “This time, through a business alliance with the Environmental Art Association, many customers can conveniently use the service. We will continue to expand the range of various services using AEX. “
AEX is preparing not only to revitalize Korean art, but also to shake the world art market. Myung-jun Jang, CEO of AEX, expressed his ambition, “I will revitalize the mass art creative market through AEX and lead the global art market with K-Art.”
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