[ARTBLOC Announcement] Transfer of Art Ownership Tokens
Translated from:
Hello, This is ARTBLOC.
Due to Bitberry’s (비트베리) decision to terminate their digital currency wallet service operated by Root One Soft — your David Hockney artwork-ownership tokens (DH01/DH02) will be transferred over from Bitberry to ARTBLOC’s own application launching in March!
To eliminate the inconvenience of existing and potential token buyers, ARTBLOC will take care of all transferring processes.
Please refer to the following for details.
Split Sale of Ownership & Token Reissuing
Token name change:
DH01 → HCKNY01
DH02 → HCKNY02
*Subject to change in the future
Reissue by dividing 1/10 of original price:
1 DH01 (9,900 won), total 8,900 pieces →
1 HCKNY01 (1,000 won), total 89,000 pieces
or
1 DH02 (9,900 won), total 5,900 pieces →
1 HCKNY02 (1,000 won), total 59,000 pieces
*Reissuing based on existing ownership purchase
Ex: 10 (ten) DH01 ownership tokens will convert to 100 (one-hundred) HCKNY01 ownership tokens.
Art Ownership Token Transfer Schedule & More
Tokens will be transferred and reissued to ARTBLOC’s application, which is scheduled to be released on March 29th, 2020. The official name of ARTBLOC’s application will be announced later.
No withdrawal or transfer actions of DH01, DH02 ownership tokens held by Bitberry are needed currently.
In addition, if you have yet to receive a copy of your token receipt, please sign the contract sent via email when originally purchasing with ARTBLOC. *Only those who have completed this signing process will be able to verify a transfer of tokens on ARTBLOC’s app, March 29th.*
If you have any questions or concerns, please feel free to contact us via email at: contact@artbloc.io
Thank you.
[FAQs]
- Is there a risk of tokens being lost during the transfer process from Bitberry to ARTBLOC’s application?
- Answer: assets and asset descriptions are secured under legally valid agreements, thus you don’t have to worry about any asset loss that may occur during its transfer process. It will take about a month after Bitberry’s termination in February until ARTBLOC’s application release — however this does not mean that any assets have disappeared.
2. How can I check my tokens on ARTBLOC’s application?
- Answer: You can check your asset history once you download and register on ARTBLOC’s application from March 29th, 2020.
3. Will there be a separate notice before ARTBLOC’s application release date?
- Answer: Yes. We will soon inform you before ARTBLOC’s application releases.
4. I do not want to transfer tokens from the Bitberry to ARTBLOC’s application for convenience, how can I continue to keep my tokens within the Bitberry app?
- Answer: Unfortunately, due to the circumstances of Bitberry’s service operator, their services will be discontinued as of February 2020. As a result, tokens cannot be stored on Bitberry’s wallet.
About ARTBLOC
Opening up art investment for all, ARTBLOC enables micro-art investment by tokenizing the fractionalized ownership of masterpieces. ARTBLOC serves as a community for sharing art world information and critiques as well as a platform for art investment. ARTBLOC aims to drive the growth of the art market in general and support the artists, ultimately bringing art to our everyday lives.
