ArtToken and KAIST's Graduate School of Culture Technology sign a memorandum of understanding on Thursday at KAIST to foster collaboration in the fields of art and technology. (ArtToken)

Online non-fungible token art trading platform ArtToken and Korea Advanced Institute of Science and Technology have signed a memorandum of understanding to push for projects integrated with art and technology.

The MOU between KAIST’s Graduate School of Culture Technology and ArtToken, inked on Thursday, aims to foster collaboration in the fields of art and technology such as coding art, interactive art and NFT art based on blockchain technology.

Based in Seoul, ArtToken has organized projects and events at home and abroad to promote blockchain technology with an emphasis on art, including the “Computational Artwork Exhibition” in June last year joined by KAIST students.

“ArtToken aims to contribute to developing a technology for art, and I hope together with KAIST, we can run a variety of projects for the next generations,” said ArtToken CEO Hong Ji-suk.

KAIST is a specialist university for science and technology. Founded in 1971 in Daejeon, it is the first public research-oriented science and engineering university.