Trackchain launches 'Red Art', an art NFT trading app

Trackchain (CEO Ham Seong-jin), a blockchain service development subsidiary of Aton, a fintech security group, announced on the 5th that it will launch an art-tech platform app 'Red Art'. 

It also entered into the art brokerage business by signing a strategic business agreement (MOU) with Hana Bank.

Red Art provides non-fungible tokens (NFT) linked to expensive artworks. You can enjoy high-definition digital images of art works encountered in offline exhibitions in the gallery within Red Art, record and manage the history of work transactions on the blockchain, transparently reserve purchases with the in-app wallet service, and trust contracts for art works concluded with banking products. You can check.

It is also possible to prove ownership of works and manage commemorative NFTs received from exhibitions. In the future, TrackChain plans to secure the scalability to respond to token securities issuance (STO) and distribution as well as links to bank trust products related to artworks in Red Art.

Trackchain and Hana Bank both collaborate to provide 'Hana Art Bank', a service that supports art exhibitions, distribution, and marketing, and jointly carry out tasks that combine finance and blockchain technology. Hana Bank This year, it launched a domestic art-based trust product. Through this agreement, the service is expanded to the issuance of trust NFTs for proof of ownership of art works. 

Seongjin Ham, CEO of TrackChain, said, “This business partnership with Hana Bank will be an example of realizing innovation in the financial process by using NFTs as utility tokens.” We will contribute to vitalizing the Art Bank service by providing a new customer experience to financial consumers as well as transparency in year transactions.”