Zug, Switzerland – (NewMediaWire) – January 25, 2023 – Art de Finance, a decentralized art financial
platform, announces its partnership with the ARSHEXA Corporation Limited which
has the Incheon airport art storage project underway on Dec 27.
With its headquarters in Zug, Switzerland, Art de Finance is a
platform that transforms physical art into NFT and evaluates art NFT through
its decentralized mechanism. The company has announced it will be providing
services such as trading and linking with decentralized financial service
(DeFi) through its platform via priced physical art NFT.
Through this partnership and with the completion of the art hub
storage project in 2026, Art de Finance’s art pieces will be stored in the
Incheon airport’s storage space in the near future.
Art storage space maintains consistent temperature and humidity
perfect for preserving high-value artwork and protects artwork from any
physical threat. ARSHEXA Corporation Limited’s Incheon airport art storage
project is valued at 400 Million USD and the amount of investment and the size
of the storage have been known to be the largest of its kind.
Major international airports around the world are striving to
establish culture and art-related services and facilities and are strategizing
to secure growth opportunities in art businesses. Incheon International Airport
is also planning to establish itself as a culture and art-focused airport with
its introduction of art storage facilities.
Currently, art storage facilities only exist in four major cities in
the world: Singapore Changi Airport’s 30,000㎡ Le Freeport, Luxemburg Findel Airport’s
22,000㎡ High-Security Hub, and Switzerland’s Geneva Airport’s 10,000㎡ Ports
The art storage facility that ARSHEXA is building is the largest in
the world with a total surface area of 83,228㎡ spanning the first lower level and the
fourth upper level. With its cost estimated at 379.5 billion won, the facility
will take place on the west side of the Incheon International Airport spanning
43,669㎡ , and will be finished by 2026.
Experts predict with the completion of the art storage facility in the
Incheon International Airport, the majority of the artwork based in Hong Kong
will turn to Incheon via Hexit (Hongkong+Exit).
Hong Kong is Asia’s largest art market and with its entire city
designated as a free trading port, art customs clearance enjoys relatively lax
regulations. Art trading corporations such as Sotheby’s and Christie’s with
large influence over Hong Kong’s art market have their own storage facilities
in various parts of Hong Kong to maintain their assets.
However, an industry representative spoke that in recent years, China’s
influence over Hong Kong has become increasingly overt and this has led to
uncertainty surrounding the anonymity and security of high-value art storage.
Predictions have been made that Incheon will become the international
art hub as Japan possesses the risk of earthquakes and this is considered more
perilous than South Korea’s proximity to North Korea.
“This partnership is crucial to Art de Finance’s physical art
storage and security,” said an Art de Finance spokesperson. “There
has been an endless controversy surrounding digital NFT and their physical form
and their price volatility have also been an issue in the past. We plan to
provide a curating system so physical art can be transformed into NFT at an
appropriate price point to provide a solution to NFT price volatility and
contribute to the NFT market’s growth along with an art market.”
Art de Finance provided technical support for Busan City’s official
marketplace operation throughout the Busan Blockchain Week Event last
September. Through this partnership, Art de Finance announced it will aid
ARSHEXA Corporation Limited’s blockchain-related services with its
Brand: Art de Finance
Contact: Henry kim
SOURCE: Art de Finance