Dear Hdac community members,

Hdac Technology has formed a cooperation partnership with STARTnet Company, Hyundai BS&C, HQ Investment to start various businesses such as ‘blockchain-based art distribution record management platform,’ ‘blockchain-based artist funding,’ and etc.

STARTnet Company is a company which runs ‘STARTnet,’ a social-network-based global art platform which brings together artists, artworks, and galleries by integrating online and offline through combining gallery and artist database. STARTnet achieves such work through ‘Global Eye Program,’ a program which discovers emerging artists from Asia. ‘Global Eye Program’ is a program operated by a renowned British art corporate PCA(Parallel Contemporary Art Ltd) through a partnership with Saatchi Gallery. The program has been in operation for more than 10 years.

Saatchi Gallery is a gallery opened by an advertisement mogul and an art collector, Charles Saatchi, in 1985. The name may be a bit unfamiliar to some of you, but it is an authoritative gallery which is noted as a gallery that elevated the art world by discovering and supporting key contemporary artists. Damien Hirst is one of the most representative artists who flourished through the supports of Charles Saatchi and Saatchi gallery.
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STARTnet is a social-network-based art platform which is designed to lower the entry barrier of the global art market to artists and allow both artists and the art market to grow together. On this platform, users from all over the world can appreciate artworks from rising stars and communicate with them. It allows the virtual collectors to enjoy collections and furthermore it allows them to buy and resell the artworks.

Artists are able to freely share their artworks or exhibition information. They can also make their own fan clubs. If an artist gets a high number of ‘likes’, they are provided with the opportunity to rise as the star artist.

The four companies plan to manage artwork-related intellectual property rights, to distribute artworks, and to secure transparency and security which is needed for managing digital artwork image data record by applying the blockchain technology to ‘STARTnet,’ which is scheduled to launch globally within this year. Implementation of blockchain-based voting and payment system to the project will be discussed as well.

This will provide a transparent blockchain-based platform which enables users to enjoy artworks from rising artists and easily purchase works of favourite artists. The partnership is expected to show diverse commercialization opportunities in various blockchain-based industries.

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