Hello Art Token (HTT) Introduction
Compared to other art markets such as music and movies, the art market is not easily accessible to the public. People can easily access music streaming services, live concerts for consuming music and movie theaters, and OTT services for consuming movies. However, in the case of art, consumption was possible through exhibitions in a rather limited space called a gallery. Even this has continued to be at a distance from popularization. In particular, the entry barrier for new artists to the market has been very high compared to other art fields, and there has been no way to fundamentally solve this problem.
In addition, music and movies are easy to reproduce, and even if they are reproduced and distributed, the copyright has been widely recognized and the rights of creators and producers have been protected. On the other hand, works of art remain almost the last realm of non-industrialized art because of the controversy over counterfeit goods, and the damage caused by illegal reproduction and distribution. This has made it very difficult for creators to make a living through their creations and deprive them of opportunities to meet people who enjoy various cultures through their works.
In the aftermath of the COVID-19 pandemic after 2020, almost all industries in the offline space have been hit hard, especially in the field of art, which had to rely on the part of gallery exhibitions for a large part, the blow can be seen to be even greater. In such a situation, it has gained popularity as a means to prove the value of its scarcity by utilizing the irreplaceable point of NFT (Non-Fungible Token) centered on digital art, and it has become a new trend in line with the current situation. While the existing domestic art auction market decreased by about 29.7% from the previous year, the size of the NFT and online art markets doubled from 6.9 trillion won in 2020 to 13.7 trillion won in 2020 compared to 2019.
<Ministry of Culture, Sports and Tourism Artist Survey: Annual Sales Performance>
The NFT protects the creator's copyright while allowing the separation of copyright, ownership, and usage rights for works of art, thereby opening up the possibility of industrializing art as well. It can be seen that a wide range of possibilities has been opened. We propose a new exhibition space in the form of a fusion of the space where the actual exhibition is held and the metaverse and create a platform that can provide opportunities to more artists and transparent transactions of artworks by utilizing the utility of blockchain and the non-substitutability of NFT. This is a service of a new concept that can lead to the popularization of art.
The Hello Art team aims to promote the strength of these NFTs through an offline exhibition space where artists can face-to-face with visitors while creating a new economic system for creators who are active in the overall architectural design, fashion design, and character industries other than traditional art.
In particular, as it is a service that can be implemented in the metaverse of the digital twin concept (identical space at offline and online), it encompasses all creative works created by creators, such as spaces (architecture design), furniture, products, fashion, animation, advertisement/visual, and editorial design that are not limited to just art. We are aiming for a platform that can As a result, the issue of digital rights management is solved through NFT, and the foundation for commercialization is established.