Cyclub's first NFT art work sold for 100 million KRW
Tue, 09 Nov 2021, 05:08 am UTC
Cyclub announced that a NFT art work <Dream of a Camel> created by Songah Yoon was sold for 100 million KRW in the auction on November 6th at 1 pm at 'NFT BUSAN 2021' conference held in BEXCO, Busan in South Korea. This marks the highest price of auction among existing Korean celebrity artists. All contents such as photos, videos, live chatting, and recorded files can be exchanged for non-fungible tokens (NFTs) through Cyclub, and it is the first time that the highest price of NFT auctions has been achieved.
Cyclub is the first DApp of Cyworld, the mainnet of Cyworld, and is the first text and voice based Social network platform service in Korea. CyClub utilizes blockchain technology to safely store personal information and transaction details, and to create and trade NFTs of creations created by creators and general users. Users will acquire CyClub coins according to their contribution within the platform, and it is also possible to cash it out from the cryptocurrency exchange using the withdrawal function.
This work, which was exposed in SBS 'It's Okay, That's Love' in 2014, is a painting that has gained popularity and consists of two versions, day and night, and was sold for 20 million won and 100 million won, respectively. This work depicts modern people who are facing conflicts in various areas of their life in a humorous way.
Seung-ah Yoon, CEO of a blockchain investment company AssemBlock that won the highest bid for this work, said, “It is an honor to be able to win the bid for the first NFT work presented by CyClub. We hope that the NFT market will become more active as artists are also interested in NFT”.
NFT BUSAN 2021 is the South Korea's largest blockchain conference held for the first time this year, and CyClub actively participated in the corporate exhibition booth and auction at this conference.
An official from CyClub said, "We will continue to grow with CyClub's unique competitiveness in the rapidly growing NFT market. The on-offline conversion platform will be launched in the first half of 2022."
Meanwhile, CyClub plans to announce the NFT Alliance program, a game-focused partnership, at G-Star in Busan.
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