[Blockchain Today Correspondent Kim So-yeon] Bitcoin has been a central axis of digital and virtual currency since 2008 because it is convenient and easy exchange rate, there is no risk of double payment such as forgery and falsification, and has scarcity. However, it is also true that there is no real value or intrinsic value linked to real assets, which shows limitations in sound financial investment market expansion.
However, NFT (non-fungible token non-fungible token), which has been attracting attention recently, will become the center of the digital asset and digital currency industry in the future by combining the advantages of existing bitcoin with various real assets including art.
The total value (market cap) of the assets existing in the NFT market has increased to $141.55 million (about 159 billion won) in 2019 and $338.03 million (about 379 billion won) in 2020. Even after the cryptocurrency market crashed on the 12th of last month, the average daily trading volume of NFTs is about $5.8 million. According to Dapp Radar, this is a 277% increase compared to last January, with an average of 21,815 NFTs being sold per day.
The major trend areas that underlie the NFT market are arts and collectibles, metaverse, sports, games, and utilities. When an NFT is created, authentication and proof of ownership of the corresponding digital item are performed, so that people who want to trade can freely buy and sell it. These properties are attracting attention from artists such as painters, musicians, creators and filmmakers who want to create limited-edition digital goods and related businesses.
In particular, Korea, which excels in culture and arts and creativity, is already a powerhouse in the IT field of cultural contents such as games. Therefore, Korea must lead the NFT market, which is now on fire by combining trust-based blockchain technology, advanced digital finance, and AI technology, and make it Korea’s food industry.
So, in order to create Korea’s NFT global center industry, proven companies and talents in each field came together and launched the ‘NFT Korea Forum’ at the Shinhwa Building in Mapo on June 3rd.
Ki-young Kim, CEO of Morphing Eye, a leading AI company, creates a marketplace base for NFT creation and trading. In addition, Mint Flex CEO Lim Byung-gwon is responsible for NFT finance, such as evaluating and lending NFTs. It is said that the third version of Nexpin, ‘Nexpin NFT’, will be released next month.
In the blockchain, which is the underlying technology of NFT, an international expert, Jingil Lee, CEO of Tongblock will join the team. It plays a pivotal role in global NFT standards and standardization by combining the forgery and falsification and tracking systems of NFTs.
A large number of internationally renowned cultural artists participate in the development, selection, nurturing, and globalization of NFT contents. First, the world-famous digital media artist, Painter Frankie, will play a role in carefully selecting Korea’s valuable domestic NFTs and entering the global market. Franky’s works have already been contracted for tens of billions of won at Lotte Department Store.
Heo Hoe-tae, an international artist who founded new art genres such as emo graphy and emo sculpture, which combines calligraphy, painting and sculpture, will join forces to play an important role in globalizing the domestic NFT market.
In addition, by developing SHOWDELI, a ‘performance trading platform’ for the first time in Korea, and combining culture and art with finance, Lee Jeong-yeol, CEO of Sunbyon Show Delhi, decided to play a role in revitalizing the NFT industry based on his rich experience and financial resources.
In addition, Dae-Seok Park, chairman of the establishment promotion committee of the ‘Korea Digital Asset Finance Association’, a financial expert and journalist, developed various contents such as Korean medicinal herbs, caricatures, calligraphy, and cultural heritage, and cooperated with the National Assembly and the government to create a foundation for the NFT industry such as related laws, systems and support. play a role
In addition, Joo-pil Jung, CEO of ‘Blockchain Today’, a block chain specialized magazine, decided to play a central role in the ‘NFT Korea Forum’, such as connecting various NFT talents and related companies, with Chairman Park Dae-seok. The forum will meet at least twice a month at the temporary office in the Shinhwa Building in Mapo and go through the procedures to establish an official association.
It is expected that the ‘NFT Korea Forum’ will become an important key for Korea’s NFT to lead the global market and develop into a digital industry that creates Korea’s wealth.
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