Crypto Community HeritageDAO Seeks to Acquire Korean National Treasures
$HDAO is uniquely positioned as a partner for museums across the globe thanks to the potential of Blockchain Technology and NFTs.
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The sudden birth of HeritageDAO, $HDAO, emerged as a response of the crypto industry to the unfortunate news that two National Treasures in South Korea were being auctioned as a desperate measure of an art museum to survive this pandemic. A practice that is highly controversial anywhere in the world, this is the first time and potentially the only time in South Korea to see National treasures out in an Auction.
$HDAO is has Positioned itself as a Partner for Museums across the Globe thanks to the Potential of the NFT Space.
$HDAO’s aim is to protect, collect, share and enjoy the essence of cultural heritage, covering both monetary and non-monetary aspects in all ages globally. In collaboration with Crayon.Finance, an Animoca Brands and Brinc backed company, $HDAO was initiated by an anonymous expert in the fields of ancient and modern arts just 4 days before the K-Auction took place. Community members began donating to the treasury on Jan. 26th. The raise intends to continue into early February to either win the auction directly or win back the treasures from the winner of the auction.
National Treasures are hard to sell due to the reporting duties that follow the buyer from the government to keep the condition of the treasures mint. Often, it is illegal to export National Treasures out of the country as with the case of South Korea. With limitations, $HDAO believes that these National Treasures are heavily undervalued with a limited number of transactions taken in the past. However, transfer of value is borderless once the ownership is minted in the form of Non-Fungible-Tokens and fractional ownership allows more retail collectors to engage with the buying and selling of treasures.
The ancient and modern art industry is the ideal target for DAO governance, because transfer of value is not limited to the location of the original asset once the NFT is minted over the ownerships and/or intellectual properties. The DAO governance structure means $HDAO is uniquely positioned as a partner for museums across the globe thanks to the potential of NFTs. With most museums having only a very limited understanding of how blockchain works, $HDAO provides a novel opportunity for those organizations to quickly gain access to the crypto space and its audience as well as benefit from global liquidity.
Leon of Crayon.Finance, said:
“With Non-Fungible-Tokens unlocking a new dimension of possibilities to assets such as National Treasures and DAOs are consistently growing and engaging the communities around the assets of interest, the future of the Art industry, both ancient and modern, could very well be powered by NFTs and run by DAOs.”
HeritageDAO’s aim is to protect, collect, share and enjoy the essence of cultural heritage, covering both monetary and non-monetary aspects through the power of blockchain and NFTs.