WEB 3.0 company Byutechnology (CEO Jin-Yeop Lee) announced on the 5th that it signed a 'Business Partnership for Issuing Architectural Design NFTs' contract with architect Professor Jin-Seok Yang on the 2nd at the Y Group conference room in Yongsan-gu, Seoul.
This contract was established with the goal of exploring the NFT conversion of architectural design works created by Professor Jin-Seok Yang and building an ‘NFT issuance and management’ system and a ‘market platform for secondary transactions’ utilizing Byutechnology’s blockchain solutions and infrastructure.
According to the contract, Byutechnology will support the construction of a platform and marketplace for NFT issuance management, while Professor Yang will provide the foundational assets for NFT issuance and actively cooperate in business infrastructure for expanding domestic and international markets.
Furthermore, both parties agreed to jointly conduct marketing and brand promotion to expand the NFT service market, and to strengthen the security system of the NFT platform and marketplace to ensure transaction safety.
Additionally, the two parties plan to jointly promote ▲ preservation of intellectual property rights for architectural designs ▲ expansion of digital asset NFT issuance and distribution ▲ transparent ownership management and transaction facilitation ▲ service expansion and entry into the global market.
Byutechnology expects that, through this contract, the intellectual property and design value produced by architects will be recreated as ‘architectural design NFTs’ as digital assets, and judges that market competitiveness has significantly increased through collaboration with partners possessing extensive infrastructure.
A company representative stated, “We expect the architectural design NFT project with Professor Jin-Seok Yang to lead a new digital art market,” adding, “This agreement will serve as a catalyst for ownership management in various fields and the provision of a transparent transaction environment.”
He continued, “Professor Jin-Seok Yang has designed numerous VIP-level buildings such as Yongpyong Forest Residence, Alpensia Estate, Seolhaewon, and Yuwonjae,” and said, “Architectural designs that combine pristine natural environments and cultural artworks with NFTs are expected to grow into high value-added businesses.”
Meanwhile, Professor Jin-Seok Yang graduated from the Graduate School of Architecture at Kyoto University in Japan and is currently serving as the chief architect of Y Group. Renowned for his representative works such as Yangyang Seolhaewon and Suanbo Yuwonjae, Professor Yang has been active not only in major domestic projects but also recently overseas.
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