SEOUL, SOUTH KOREA — Advertising agency Cheil Worldwide has signed a memorandum of understanding (MOU) with an artist group specializing in NFT, SMATh, in order to strengthen NFT-based IP business competitiveness.
Formed in 2020, SMATh consists of five artists working on 3D design, stage art, fine art, and illustration in South Korea, U.S., and Germany. On the sidelines of SMATh projects, the team has been recognized for their design capabilities with works for various brands and organizations including Samsung, Chanel, Seoul City, and Incheon International Airport. As team SMATh, the artists have been presenting distinctive artworks that combine fine arts with 3D technology.
Through this business agreement, Cheil Worldwide and SMATh will collaborate on joint planning and development of NFT-based IP business marketing cooperation between SMATh and Cheil Worldwide’s clients promoting IP business utilizing universe and characters developed by SMATh.
For example, Cheil Worldwide can create and sell art toys or apparel globally using SMATh’s various NFT IP including nom@dape, SMATh Genesis, and PRD_X, or appoint NFT IP as a model for ad campaigns of Cheil Worldwide’s clients. Even Cheil Worldwide or its clients can participate in SMATh’s new NFT projects.
“We look forward to expanding our business opportunity in NFT through our partnership with SMATh who has the capability to self-develop characters and universe by fusing art and technology,” said Cheil Worldwide representative. “Under our digital vision of ‘Meta-formation’, Cheil Worldwide will continue to collaborate with various partners in the tech sector that includes NFT and metaverse.”