TriumphX (TRIX Foundation) Signs NFT Provision MOU with TESSA for Investment on Artworks of Julian Opie, Jeff Koons, and Damien Hirst
TriumphX (TRIX Foundation), across-chain based decentralized NFT platform developer, signed an NFT provision agreement with TESSA, a collaborative artwork ownership investment platform.
TriumphX Foundation enables anyone to participate in and develop decentralized services by ensuring blockchain scalability and interoperability. The foundation has listed TRIX token on Bithumb Global, Foblgate, Latoken, and other prominent exchanges. TGXC, the foundation of cryptocurrency service provider TMTG, is currently participating in the project as a consultant of TRIX.
Targeting millennials and Gen Z who make up over 70% of online investors in 2020, TESSA is operating an online investment platform service for those interested in the fractionalized investment of blue-chip arts. Because the platform provides a unique distributed ledger technology, artwork ownership details and transaction history are managed securely with transparency.
TESSA began its operation with the joint ownership investment of David Hockney’s work. At a 2019 Christie’s auction, Hockney’s work was sold at 90 million USD, the highest price among the surviving artists. TESSA has also conducted joint-ownership projects for the artworks of Jean Michele Basquiat, Keith Haring, and others.
All the shares were sold out, and the projects were received with significant successes. The NFT platform developed by TriumphX features NFTs in the form of gift certificates with a discount rate. The gift certificates hold fractionalized shares of artworks of today’s famous artists, such as Julian Opie, Jeff Koons, Damien Hirst, and many more.
A TriumphX (TRIX foundation) official said, “Whereas stock and foreign exchange markets fluctuate due to the economy and government policies, blue-chip artwork investment is a more stable and time-tested alternative for investors. In the current NFT art market that focuses on digital art, TESSA’s blue-chip art investment NFT will be an unprecedented opportunity for collectors. The global NFT platform created by TriumphX will provide a new perspective on the NFT artwork market for investors all over the world.”