NFT in connection with Samseong Palace and the Monthly Magazine Diplomacy

Updated: Nov 20, 2021

Codemy Revenue Model

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Chairman of Monthly Magazine Diplomacy, Dr. Limb, interviewed Dr. Toynbee, who "was perhaps the world's most read, translated, and discussed living scholar. His output was enormous, hundreds of books, pamphlets, and articles. Of these, scores were translated into thirty different languages....the critical reaction to Toynbee constitutes a veritable intellectual history of the midcentury: we find a long list of the period's most important historians, Beard, Braudel, Collingwood, and so on." (Michael Lang)

Model #2. Trade on the NFT platform

A Non-fungible Token (NFT) is a virtual asset developed using blockchain technology. Virtual coins, unlike regular coins, can be used as money; however, with NFTs, each digital asset has a unique recognition value. A NFT is a type of "digital authenticity/ownership certificate." Codemy intends to collaborate with various leaders across multiple industries to create content that can be traded on the NFT market.

Codemy plans to operate a system that consolidates NFT and real-world transactions through its connection with the Samseong Palace and the Monthly Magazine Diplomacy throughout the latter half of 2022. Samseong Palace now possess national treasures such as calligraphy and culturally-significant paintings, which will be used as a part of an exhibition hall in their “Heon (Old) Village Project” to display all its works and make its art available as Non-fungible Tokens (NFTs) by linking them with the Codemy platform. The physical object in the exhibition hall will receive an original ownership certification provided by the blockchain. We plan to convert these historical items into NFTs by creating two cases: one case will involve an individual (or a party) owning the ownership certification in the form of an NFT, while the other case will involve owning the physical object in the exhibition hall. This is what experts call “crypto art.”

In March 2021, Time magazine sold four NFTs for 276 Ethereum (worth about $446,000). Their covers for editions released on April 8, 1966 as well as one in 2017 were sold as NFTs. Likewise, Codemy plans to jointly sell the covers and contents of the Monthly Diplomacy as NFTs. Again, the physical magazine will be authenticated as original, while an ownership certificate will be issued by the Codemy blockchain.

In addition, Codemy plans to sell copyrighted artworks, character goods, photos, audio, video, and e-books as NFTs. We plan to transfer both the content’s copyright and ownership certificate (or solely transfer the ownership certificate) so that they can be used according to the buyer's wishes. We can share our ideas using e-books as an example; if there are publishers who make quality books but are unable to market them effectively, they can convert their books into NFTs and sell them so that companies or individuals who are capable of marketing to the masses can work to make these books profitable.

As anyone can see, NFTs can open up a new world of opportunities for both content creators and the buyers. It is only a matter of time until the use of NFTs become more mainstream and ingrained in the daily lives of a futuristic society.

Written by Bradley Park and Joshua Park

Samseong Palace

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