FSN Forms Strategic Partnership with Painterable NFT Project 'Spin'

[Asia Economy Reporter Jang Hyowon] FSN, a KOSDAQ-listed company, announced on the 22nd that it has signed a strategic partnership with contemporary artist Jeon Byeong-sam's NFT art project ‘Spin (SPIN)’.

‘Spin’ is a new NFT art project by contemporary artist Jeon Byeong-sam, who gained global recognition through a solo exhibition at the UNESCO headquarters in France and a collaborative exhibition with Lamborghini in Beijing. It is the world’s first ‘Paintable NFT,’ where a blank canvas is assigned unique brushes allowing the owner to create digital paintings themselves. ‘Spin’ is a limited edition NFT art collection consisting of a total of 1,000 pieces, with minting scheduled to proceed sequentially from March 4 to 6.

Released on ‘OpenSea,’ the world’s largest NFT platform, ‘Spin’ grants owners secondary commercial copyrights for all created content. This allows NFT buyers to independently pursue new linked businesses, making it an innovative new type of NFT approaching Web 3.0.

Through this strategic partnership, FSN plans to explore and experiment with various commercial secondary business models as a key corporate member of ‘Spin’ and seek the potential for expanding new NFT businesses. Since ‘Spin’ has already been recognized for its value even before sales, with many companies and celebrities participating as partners, it is expected to grow into a global project with diverse scalability through collaboration with FSN.

Lee Sang-seok, CEO of FSN, said, “Through this partnership, we will contribute in various ways to the success and development of the Spin project at the corporate level,” adding, “In the future, by designing a token economy to revitalize the community ecosystem and organically linking with our own partner brands, we will demonstrate the potential for building and expanding a new NFT ecosystem.”

Artist Jeon Byeong-sam stated, “With the announcement of the Spin project as a starting point, similar responsive NFTs will flood the global market, and this new type of NFT will lead the market,” expressing, “As an artist, I want to continuously challenge new art forms and contribute to broadening the horizons of art.”

Meanwhile, FSN is actively promoting its NFT business together with its subsidiary Hand Studio. It recently launched the PFP NFT project ‘Sunmiya Club’ in collaboration with MetaKongz, preparing to release differentiated NFTs that existing artists have not attempted. Additionally, FSN plans to continuously expand the domestic and international blockchain ecosystem through partnerships with various companies and projects, including ‘Spin.’

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