Visual China Soars After Photo Agency Unveils Blockchain-Secured Digital Art Platform
Tang Shihua
DATE:  May 25 2022
/ SOURCE:  Yicai
Visual China Soars After Photo Agency Unveils Blockchain-Secured Digital Art Platform Visual China Soars After Photo Agency Unveils Blockchain-Secured Digital Art Platform

(Yicai Global) May 25 -- Visual China Group’s stock price surged by the daily trading limit after China’s biggest photo site announced it has launched for testing a new overseas digital visual arts platform that will use blockchain technology for security.

Shares of Visual China [SHE: 000681] jumped 10 percent in Shenzhen today to close at CNY13.04 (USD1.96) each.

Information about artworks and their owners will be secure on Vault by 500px, the new platform, as its data cannot be changed, Beijing-based Visual China said in a statement today.

Blockchain technology will help to spur digital art deals and promote their secure transfer worldwide, the firm said, adding that Vault by 500px will further expand the company’s core business and provide new profit-related growth points.  

Visual China acquired global photographers’ community 500px in 2018. It now has more than 20 million registered users and 500,000 contracted content creators, and it has established close ties with nearly 300 professional content agencies in China and abroad.

Vault by 500px will help to digitize the artworks created by the 500px community, Visual China said.

Editor: Tom Litting

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Keywords:   Visual China,BlockChain Technology