Monday, May 29, 2023

DaFIN signed an MOU with Changdeok Collection to promote real NFT-based fintech service

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Travon Marner
Travon Marner
Travon Marner is a seasoned journalist with nearly 12 years under his belt. While studying journalism at Boston, Travon found a passion for finding local stories. As a contributor to Business News Ledger, Travon mostly covers human interest pieces.

DaFIN, a digital asset fintech platform, announced on March 14, 2022 that it signed a partnership with Changdeok Collection.

The Changdeok Collection was established in Shanghai by Hong Chang-deok, son of Mrs. Choi gap-soon, who donated military funds to the provisional government as a secret association. He collected works by Korean artists during the Japanese colonial period in Korea. Currently, Hong Sung-joon, the eldest son of Hong Chang-deok, is in charge or representative of the Changdeok Colletion Art Committee.

Changdeok Collection has works by famous Korean artists such as Kim Hwan-ki, Park Soo-geun, Chun Kyung-ja, and Lee Joong-seop, as well as works which were not disclosed on the market, by Picasso, Raul Dupi, Andy Warhol, and Munch. They will actively cooperate with DaFIN promoting real NFT-based fintech services.

Changdeok Collection
Figure 1Portrait of Changdeok Collection (Joan Miro)

Hong Sung-joon, chairman of Changdeok Collection, said, “I already saw the mixture of the traditional and digital art markets since last year, but there’s still a negative view of the NFT market since some regulations. Even though, I decided to cooperate with DaFIN cause I was confident that it could boost sales and also digital assets markets.”

Lee Joon-ho, general director of DaFIN, said, “We acknowledge that NFT has created new industries and had a positive effect on the authentic art market. We value the positive combination of the digital asset market and the spot art market in the transition period. Therefore, as DaFIN pursues, the key will be to ensure that real-based NFTs are synergized with each other through compensation through DaFIN FinTech service connection.” And “In addition, we will make efforts to sell works through domestic and foreign Auction companies such as Sotheby’s and Christie’s to generate profits beyond stable storage of works through cooperation with Changdeok Collection.”

Meanwhile, DaFIN, which started in December 2020 based on the digital asset fintech platform, successfully completed the DFY-type Season 1 and Season 2 service, listed digital assets on bittrex, and is currently speeding up preparations for real NFT-based season products.

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