On December 8, Visual (China) Culture Development Co., Ltd. (hereinafter referred to as "Visual China", stock code: 000681) and Beijing Yingyi Auction Co., Ltd. (hereinafter referred to as "Yingyi Auction") signed a strategic cooperation agreement in Beijing. According to the agreement, Visual China and Yingyi Auction will work together to explore the use of blockchain technology and NFT technology to carry out digital collection cooperation in video art in China and promote the development of digital collection of image art.
Images, videos, music, etc. in the Internet era can be copied and pasted to make countless copies. Based on blockchain technology, digital works are transformed into digital art collections with blockchain properties after being on the chain, which effectively ensures the uniqueness, authenticity and permanence of assets, and the works are not preserved on the chain without extinction or damage, nor the troubles faced by storing traditional art works, and effectively solves the problem of proof of ownership of digital collections. Relying on NFT technology, artists can plan the commercial licensing, publication, exhibition and other rights of their artistic creations and the core issues such as the circulation, authenticity and quantity of works sold; compared with the traditional art collection form, the art digital collection under the NFT technology form can track the circulation of art transactions, improve the efficiency of collection transactions, reduce transaction costs (such as the identification of the authenticity of collections, trust costs), enhance the liquidity of art collections, and attract more collectors to trade. Let digital art collections be geared towards a larger market.
The person in charge of Visual China said that the company will take the "blockchain + digital copyright" strategy as the guide to solve the pain points of the digital copyright industry, is committed to landing the digital collection business under the compliance framework, focusing on the digital property rights certification function of digital collections, actively fulfilling the main responsibility of the platform, ensuring that the content is legal and compliant, and the copyright ownership is clear; the platform will authenticate the real names of both parties to the transaction, reject virtual currency, use RMB transactions, operate in accordance with the law, protect the interests of collectors, and empower the real economy. Promote the healthy development of the digital copyright industry.
The person in charge of Yingyi Auction said that as a traditional comprehensive platform institution for image artworks, Yingyi Auction sees that the wave of digitalization will have a profound impact on the art collection industry. Blockchain technology makes the digital collection of image art can be confirmed, easily transferred, traded and traceable, laying a solid foundation for the future construction of a digital economic ecology. Yingyi Auction is looking forward to in-depth cooperation with Visual China, giving full play to their respective advantages, and in the upcoming Visual China Digital Collection Trading Platform, the two sides will cooperate to launch the first batch of digital image art digital collections to meet the emerging and growing digital collection market.
Infographic of the auction site
It is reported that the two sides will hold the first video art digital collection auction in the spring of 2022 to promote the transaction and circulation of video art collections. In addition, from December 10 to December 12, Yingyi Auction will hold the 2021 Autumn Auction at the China World Hotel in Beijing, bringing 244 photographic art works from more than 20 collections including the Hundred Shadows of the Late Qing Dynasty, Art Photography of the Republic of China, Documentary Photography, Photographic Ancient Books, Contemporary Images, etc., including 4 heavyweight collections with an estimated value of more than one million, with a total estimated value of more than 12 million yuan.
According to public information, Yingyi Auction is a comprehensive auction company mainly engaged in video art. Large spring and autumn auctions are held regularly each year, and online auctions will be held monthly starting in 2020. Since the establishment of the China Video Art Auction Platform, Yingyi Auction has operated more than 20 video art auctions, and the total value of its image artworks has exceeded 100 million yuan after 10,000 bids. As an authoritative institution for the appraisal and valuation of video artworks, Yingyi Auction serves many museums, art galleries, foundations, collectors, artists, agencies and collectors at home and abroad, including the National Museum of China, the National Art Museum of China, the Shanghai History Museum, the Shanghai Library, the Valencia Museum of Modern Art in Spain, the Arles International Photography Festival, the Pompidou Art Center in France, the GETTY Museum in the United States, the Dimei Museum in the United States, the Asian Society in New York, etc. Adhering to the purpose of enhancing photography culture, excavating photography history and creating image value, Yingyi Auction takes the trading of video artworks as its core business, and will continue to expand other art categories such as modern and contemporary art in the future.
Visual China integrates copyright materials such as pictures, videos, music, fonts and other copyright materials from all over the world, and provides efficient digital copyright trading services for upstream and downstream contributors and users through intelligent service platforms supported by big data, artificial intelligence, cloud computing, blockchain and other technologies. With over 400 million images, 30 million videos and music footage, the platform is one of the world's largest digital content platforms of its kind. In 2016, Visual China acquired Corbis, a global high-end gallery founded by Bill Gates, which basically covers the classic historical moments of human history since the 20th century, is an irreproducible human cultural heritage, and has immeasurable value. In 2018, Visual China acquired 500px, a global photographer community based in Canada, with more than 17 million registered users in 195 countries and regions around the world. Visual China has established cooperative relations with 280 well-known media and copyright institutions around the world, such as People's Daily, CCTV+, China News Agency, Getty Images, Associated Presse, AFP, etc., and has established a unique global visual content ecology. It is reported that Visual China relies on blockchain and NFT technology to establish a "blockchain + digital copyright" strategy, relying on the global photographer community 500px is building a visual arts digital collection trading platform.
This article originated from Easy Publishing
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