One of the largest South Korean blockchain ecosystems, ICONLOOP (ICX), has announced it applied its blockchain-based certificate issuance service 'broof' to 'ARTnGUIDE'.
According to the official press release that was shared with iHodl, ICONLOOP has signed a strategic partnership with Yeolmae Company for this collaboration. This partnership aims to prevent forgeries and theft by recording ownerships of jointly purchased works of art on the blockchain, managing them reliably, and disclosing the details of transactions transparently.
ARTnGUIDE is the first online service platform in Korea for co-purchasing works of art operated by Yeolmae Company.
Jonghyup Kim, the Head of ICONLOOP claims that blockchain technology can enhance the transparency and efficiency of art trading, effectively revitalizing the art purchasing market.
"Through the cooperation with Yeolmae Company, which aims to popularize the art culture and vitalize the market, ICONLOOP will work together to protect intellectual property rights and prevent counterfeiting," he added.