Whanki's NFTs
Published: 27 Mar. 2022, 17:01
![A model looks at a digital version of the iconic painting "05-IV-71 #200 (Universe)" by Korean modern art master Kim Whanki (1913-1974) on an LG OLED display at Gana Art Bogwang in Yongsan, central Seoul. [LG ELECTRONICS]](https://koreajoongangdaily.joins.com/data/photo/2022/03/27/022632d1-92b5-462e-8269-d8f24e8f07ea.jpg)
A model looks at a digital version of the iconic painting "05-IV-71 #200 (Universe)" by Korean modern art master Kim Whanki (1913-1974) on an LG OLED display at Gana Art Bogwang in Yongsan, central Seoul. [LG ELECTRONICS]
Three nonfungible token (NFT) editions of a digital version of the iconic painting "05-IV-71 #200 (Universe)" by Korean modern art master Kim Whanki (1913-1974) were sold for a combined 730 million won ($596,000), according to Seoul Auction Blue, which is the online auction subsidiary of the nation’s biggest auction house Seoul Auction, on Saturday. The three were the first NFTs of an artwork from Kim.
Seoul Auction Blue said in a statement that its subsidiary XXBLUE sold the NFTs of Kim's painting for a combined 194 Ether at auctions held on Upbit NFT, which is the NFT marketplace platform of the crypto exchange Upbit, on Thursday and Friday. The first edition was sold for 290 million won and the second and third were sold for 220 million won each. Their starting prices were 200 million won each.
They were produced with the permission for the exclusive copyright use by the Whanki Foundation. The original oil painting “05-IV-71 #200 (Universe)" was sold for 88 million Hong Kong dollars, or 13.2 billion won, at an auction by Christie's Hong Kong in November 2019, setting a new record auction price for a Korean art piece.
BY MOON SO-YOUNG [moon.soyoung@joongang.co.kr]
with the Korea JoongAng Daily
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