ICON Foundation has just closed a new partnership with Yeolmae to create records of ownership for art pieces. The deal has been cherished by ICON’s community as the Iconloop’s “broof” service proves to be applicable to almost every type of industry.
The ICONLoop team made the news official on Twitter by saying:
ICONLOOP has applied #broof to ARTnGUIDE, the first online service platform in Korea for co-purchasing works of art. This partnership is significant as it is the first case of applying blockchain-based certificate issuance service to the art market.https://t.co/ZFAjLm7br1
— ICON (@helloiconworld) August 20, 2019
The deal expresses that the record will be covering every little detail of the intellectual and artistic work and will prevent falsification. In its Medium Blog, the technical team describes the record in the following way:
“‘ARTnGUIDE’ contributes to the popularization of the investment in works of art and the market revitalization by providing the gateway to own high-priced art pieces, which have a high entry barrier in terms of price, with just a small amount of investments”
ICON seems to be quietly building its path to success, with its portfolio of clients now including Samsung, Mirae Asset and KB Kookmin Bank.
Image c/o Medium