In Korea’s Gyeonggi, a blockchain-powered online video portal for artists was inaugurated Wednesday by the provincial authorities. Digital material created using the artists’ activities is to be protected by the innovative “Gyeonggi ArtOn” framework, which also aims to encourage the fair split of earnings.
Utilizing non-fungible tokens (NFTs), Gyeonggi ArtOn can assure that creators who are the actual owners of the performance content get a rightful share of the revenues. The Gyeonggi Art Center assures that the copyright of the material remains with the artists involved in an NFT form after documenting concert videos of local performers in fields like music, dance, theater, and conventional art.
Viewers that view or purchase the material are given a reasonable share of the revenues. There are now 230 shows listed from around 110 creative teams.
