Categories: Ethereum

South Korean startup seeks to tokenize David Hockney’s work via blockchain

Click here to view original web page at
Atbloc Homepage Screenshot (TokenPost)

A recently founded South Korean startup is seeking to tokenize the art market using blockchain technology.

Artbloc was founded this year and offers services to overcome the two major limitations of the art market – no feedback on art works and limits on trade size growth.

First, the startup is offering a blockchain-based community service, called “Artbloc Hub”, where anyone can give feedback on the art works and record their trade and exhibition history. Tokens will be awarded to community users who have accumulated review data or historical data.

Create Your Own Cryptocurrency to Monetize Content and Grow Communities.

Second, a platform service Artbloc MarketPlace, based on Artbloc Hub, which will divide the ownership of the work, tokenize it, and trade it when the investment of the work is verified based on the accumulated data.

CoinDesk reported that Artbloc has acquired two works by world renowned British artist David Hockney – Focus Moving, 2018 and Pictured Gathering with Mirror, 2018. For the former, it will be issuing 8,500 tokens and 5,000 tokens for the latter.

These tokens, priced at 9,900 won ($8.18) each, will be offered during an event to be held at Lounge K in Gangnam on September 19. Artbloc will be using the ethereum blockchain to record these tokens, which will be tradeable privately or through a platform for exchange to be set up early next year in Hong Kong. As each work will have its own token, the tokens will not be listed on crypto exchanges.

Artbloc CEO Jun Kim explained that they are basically trying to bring high-end works, which is only available to the rich through galleries and auction houses, to regular investors and customers.

“Artbloc will sell high-end art to the public,” Kim said, adding that the startup can sell fractional ownership to normal people.

While he did not reveal how much he paid for the first two painting he acquired, Kim said that he is interested in more works, particularly the paintings by Roy Lichtenstein.

“This is just the pilot,” he said. “It’s just the first step.”

Artbloc was founded this year and offers services to […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoin Price Chart Forecast: BTCUSD Awaits Pennant Breakout

Bitcoin Price Forecast: A series of lower highs and slightly higher lows has formed a pennant pattern Regardless of direction,… Read More

2 hours ago

Billionaire Blackstone CEO Heaped Praise On Blockchain—But Made A Bitcoin Warning

Bitcoin has won over many from the traditional finance industry , but far more of the investment old guard remain… Read More

2 hours ago

Early Ethereum advisor charged with extortion and arrested

The accused, Steven Nerayoff, violated the agreement made with a blockchain firm. If found guilty, Nerayoff and his associate Michael… Read More

2 hours ago

CME Group Reveals Plan for Bitcoin Options in Q1 2020

Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More

8 hours ago

Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More

8 hours ago

IBM Stock Gets a Blockchain Pop

IBM (NYSE: IBM ) investors haven’t had all that much to complain about in 2019. After a precipitous drop over… Read More

8 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More