Atti Korea Sells Picasso and Andy Warhol Works as NFTs

[Asia Economy Reporter Jang Hyowon] Physical NFT art marketplace ArtiiKorea announced on the 14th that it plans to sequentially sell artworks by famous overseas and domestic artists, starting with the world's first NFT sales of Picasso and Andy Warhol.

ArtiiKorea (ARTIIKOREA) differs from existing 'artwork co-purchase platforms' by issuing NFTs (Non-Fungible Tokens) based on blockchain technology for physical artworks certified by museums, enabling their trade.

NFTs are digital tokenizations of assets such as artworks and real estate, issued and recorded on the blockchain, allowing transparent management of artwork ownership and sales history. When an artwork is NFTized, the token number proving the authenticity of the work is also registered on the blockchain, recognizing its uniqueness.

Additionally, ArtiiKorea (ARTIIKOREA) recently announced the official opening of its platform, stating, "Artworks are stored at K Contemporary Art Museum, the largest certified private museum in Gangnam, and an exhibition will open on the 16th." ArtiiKorea plans to support various events, including exhibition viewing benefits at K Contemporary Art Museum for NFT owners.

On the ArtiiKorea (ARTIIKOREA) market, users can check certificates issued by museums, information about artworks, and NFT transaction histories. Buyers can set the quantity of NFTs for Picasso and Andy Warhol works they wish to purchase and buy as many as desired. Purchased NFTs can be registered for sale to realize investment returns.

An ArtiiKorea (ARTIIKOREA) official stated, "Until now, NFTs of mainly digital works have been dominant, and NFT trading of physical items is gradually expanding, but this project is characterized as the world's first NFT trading business based on physical works by Picasso and Andy Warhol." They added, "Due to the high prices of works by world-renowned artists like Picasso and Andy Warhol, it has been difficult for the general public to purchase and own them, but by introducing fractional NFT ownership, we can popularize these famous works, expecting significant development in related industries and expansion of business areas."

Meanwhile, ArtiiKorea (ARTIIKOREA) is the official Korean partner of the global NFT market platform Artii (ARTII). Artii (ARTII) CEO Jaian Cuttari is the CEO of Veltrust, one of the 100 fastest-growing companies in the U.S. selected by Fortune last year, and an innovative entrepreneur active in many fields such as consulting, financial advisory, and technical consulting for governments and large corporations in the U.S.

This content was produced with the assistance of AI translation services.