Case Study: Phygital Art Auction on Bitkub NFT
We all know that NFT in the form of painting and artwork has been quite famous in the past 2–3 years. The term “Non-Fungible Token” (NFT) is quite unique and is not just a painting; it could be a reputation or the thing around us. However, it is inevitable to say that NFT in the form of painting and artwork is quite popular now.
129 Art Museum collection is a private collection comprised of masterpieces from Thai National Artists and Thai Emerging Artists, which are well worthy of displaying for those who share the admiration of art and intend to preserve all of these works within the Kingdom of Thailand.
Bitkub Chain and 129 Art Advisory recognize the value of Thai artists and desire to provide them with the opportunity to create one-of-a-kind art pieces. We’ve organized a Phygital art auction called “FOMO NO MORE” and “Profile Pick,” in which we’ve allowed artwork from well-known Thai artists like Sakwut Wisesmanee, Kamin Lertchaiprasert, and Angkarn Kallayanapong to participate. The auction winner will receive both physical arts and NFT by bidding and offering the price in KUB Coin and Thai Baht.
Bitkub Chain Platform & Function (NFT Solution)
- Bitkub NFT — The NFT Auction feature of the Bitkub NFT platform was implemented at the event. Participants would join and participate in the auction by bidding and providing prices in KUB Coin and THB. The artworks were tokenized and made accessible through the platform. This is yet another NFT solution capable of integrating online and offline activities.
The solution delivers a new solution based on blockchain technology that is appropriate for brand organizations aiming to establish a fresh business model and customer engagement. The fans will engage with artists to gain access to artworks and will be allowed to truly own the artworks in both physical and digital forms due to tokenization via blockchain technology.
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