Taking advantage of the growing interest of South Koreans in the works of the famous British painter, David Hockney , ArtBloc , the local blockchain art project , will hold a split sale of the property of two of his works to mark the launch of the event.
To make the possession of works of art accessible to all
The event would be called “Hockney Night with ArtBloc”. It will be held at LOUNGE’X, a café located in the Gangnam N Tower, on September 19th.
The evening would be exceptional in that it will support the first split sale of David Hockney’s works to the world.
Fractional ownership of works of art is a method of selling property by dividing the work of art into many Tokenized titles, thus making its possession accessible to the middle classes, if it were the preserve of wealthy people before.
For this sale, the company plans to issue 8,500 tokens for Focus Moving, the first table, and 5,000 tokens for Pictured Gathering with Mirror, the second.
Each token will be sold for 9,900 won, or about $ 8.18. They would be exchangeable privately or through the exchange platform that the project would consider setting up in Hong Kong early next year.
ArtBloc Hub and ArtBloc Market very soon
This event would be part of ArtBloc’s initiative to present a new image for the fine arts.
In this regard, the company aims to expand the present project by several others, including ArtBloc Hub, its data registry tool, and ArtBloc Market Place, an entity in which the ownership of works of art will be segmented, published, listed and exchanged.
Moreover, Kim Hyung Jun, the general manager of ArtBloc, would have commented on the event in these terms:
“It’s only the pilot.”
After the sale, the aforementioned works will be preserved and displayed in galleries located in Seoul , so that the public as well as the small owners can contemplate them.
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