"Small Art Investments with L.Point" Lotte Members Launch Fractional Investment Offering for Banksy Works

Art Investment Platform 'TESSA' Integration Commemorates Banksy's 'Girl with Balloon' Fractional Ownership Sale
Korea's First 'Point Art-Tech', 777 Winners to Receive 10% Purchase Points Rebate

[Asia Economy Reporter Yuri Kim] Lotte Members announced on the 23rd that they have completed the integration of the art investment platform 'TESSA' into the L.Point mobile application and will start a fractional investment offering for graffiti artist Banksy's works from the 26th.

TESSA is a platform that allows fractional investment in art ownership in small units starting from 1,000 KRW. Since its launch in April last year, it has successfully conducted investment offerings totaling 5.3 billion KRW for works by famous artists such as Jean-Michel Basquiat, Keith Haring, and Yayoi Kusama.

The fractional investment offering exclusively available on the L.Point app features Banksy's 'Girl with Balloon,' known as a legend in graffiti art. Recognized as an icon of 21st-century Urban Art, the work was ranked first in a 2017 UK vote for 'the nation's most beloved artwork,' according to BBC reports.

The fractional ownership of this artwork can be purchased with points on the L.Point mobile app starting from the 26th of this month. This is Korea's first 'Point Art-Tech' service, combining art and financial technology, allowing art investment using membership points. Any shortfall can be covered by topping up points. An event will run until the 8th of next month, where 777 participants will be randomly selected to receive 10% (up to 10,000 points) of their fractional ownership purchase points back.

This is the fourth Banksy artwork investment offering conducted by TESSA. In two offerings held in June, fractional ownership worth a total of 1 billion KRW was sold out within 30 minutes (393 and 1,208 participants respectively). The offerings feature works verified by Pest Control Office, the official authentication body for Banksy's works.

Byunghyun Ahn, Head of MyData TF Team at Lotte Members, said, "With growing interest in investments in copyrights such as art and music among the MZ generation, we planned a point-tech service that allows fractional investment in art copyrights with L.Point in units of 1,000 KRW. Now, even leftover change or spare points after shopping can be used to start art investment more easily and naturally in daily life."