YEATU: A Platform for Facilitating Investment in Artists | CEO Everine Jo

Profile

With a dual degree in Business Administration and English Literature from Sogang University and a Master's from Sogang University Law School (attorney qualification obtained), Everine Jo has diverse experience in the financial sector. In China, she worked as a foreign exchange dealer and fund manager at the China Construction Bank and the Agricultural Bank of China. Everine also served as the Director of Asian FX Sales at ADVANCED MARKETS LLC. Returning to Korea, she worked as the Head of Strategy (Institutional Investment) at 8PERCENT and as a lawyer before becoming the Head of Global Strategy at Galaxy Corporation, a metaverse-related company. In 2023, Everine launched EverTreasure.

How was EverTreasure founded?

EverTreasure was founded in South Korea on April 4, 2023, marking its first anniversary this year. My background includes significant experience in the financial sector, having worked as a foreign exchange dealer and fund manager at major banks in China and the United States. After returning to Korea, I pursued law school and entered the startup world. My initial venture was a fintech company, where I served as Head of Strategy and Investment, achieving a record-high funding of 40 billion KRW. Subsequently, I joined a rapidly growing metaverse startup in Korea as the Head of Global Strategy.

The idea for EverTreasure emerged from my network of artist friends and my father's experience working at a broadcasting company. Despite their talent, many artists I knew struggled financially, even with university degrees. I sought to address this issue by leveraging my expertise in finance to create a solution. The need for a financial solution became clear with the legal formalization of security tokens. As an artist myself—having played in a band during high school and now working as a scriptwriter for dramas and films—I deeply respect the arts. My personal experience underscored the necessity of building an ecosystem where artists can thrive, leading to the creation of this platform.

Tell us about the services you provide.

EverTreasure offers a "fintech platform" with two primary features. The first is an investment function designed to allow individual and institutional investors to directly invest in artists and share in their profits. The second is a global networking system. Artists often find themselves isolated, with limited opportunities for interaction and poor marketing or promotional skills. Existing galleries and art associations tend to be monopolistic and opaque, making it difficult for artists to survive.

Our platform addresses these issues by providing both investment and networking functionalities, enabling artists to form global projects and communities, and create sustained income. For example, an artist can join our platform, connect with other artists and global projects, engage with galleries and associations, and receive direct investments.

What sets EverTreasure apart from other services?

Our strength lies in redefining the concept of investment in artists. Traditionally, investing in artists was uncommon, and typically involved intermediaries like galleries or art agencies. EverTreasure, however, visions to allow investment across all artistic disciplines—musicians, painters, DJs, actors, and more.

Our service is blockchain-based, solving tracking difficulties and artwork management issues that plague traditional systems. Artists can track their work and manage content precisely, enhancing ownership and control. Similar to how YouTubers can transparently track their earnings, our platform provides clarity and convenience in revenue tracking for artists receiving investments.

For individual investors, our platform democratizes access to the art market, which was previously closed to the general public. By opening this market, we enable easy participation and investment from everyday individuals.

Tell us about the new platform you launched.

We have launched a platform named "YEATU," an abbreviation of "Art Investment" in Korean. The company name, EverTreasure, means "eternal treasure," and its initials, "ET," imply something extraterrestrial or unknown. Artists registered on YEATU are called ETonians. We plan to create a metaverse community called "ETopia," where ETonians and investors can connect. Through this platform, artists can apply for direct investment links and networking opportunities.

What do you see as the pain points in the art market?

Art is utilized across various fields like restaurants, buildings, and advertising. However, those managing such projects often lack the time or resources to discover new artists, and there are few suitable platforms for building such relationships. Major entertainment agencies face similar challenges in finding new talents and creating content beyond their big stars like BLACKPINK. Despite the abundance of talent, it’s hard to discover due to the lack of platforms.

We offer a comprehensive listing platform for all artists, supporting talent discovery projects and direct investments. While broadcasting stations or platforms like YouTube have dominated this market, individual influencers on platforms like AfreecaTV are also finding success. We aim to play a similar role in discovering and nurturing new talents.

Why did you decide to enter the Japanese market, and what is your perspective on it?

Comparing Korea, China, and Japan, I found Japan's art sector to be very mature. While Korea’s market is just beginning to grow, Japan’s is much larger. Visiting museums and the National Museum of Modern Art in Japan, I was impressed by the high level of passion and sophistication for art among Japanese people. Despite this, there is a lack of startup ecosystems or platforms in Japan, leaving them bound to traditional methods.

We aim to build a global platform that can help Japanese galleries expand into the international market. Although the U.S. market dominates with 50% of the global art market, there is great potential in Japan and Korea. Our goal is to foster cross-border collaborations, art residency programs, and shared content ventures between Korea and Japan. This will enrich both cultures and lead to the creation of better content.

What are the key considerations for your expansion into Japan?

Last year, I participated in IVS in Japan and met with Daiwa Securities, which has been running a token-based real estate investment service for three years. Many users interested in art were drawn to EverTreasure. Integrating our service with Daiwa’s API could enable trading in tokenized securities, allowing investors to benefit from an artist’s value fluctuations similar to startup investments.

Localization is critical for our Japanese expansion, providing services in Japanese rather than English. After visiting numerous galleries in Japan, we found significant interest in our platform. Moving forward, we aim to establish robust relationships with local galleries and artists, requiring thorough localization, strengthened PR activities, and collaborations with banks for broader adoption.

What are your future prospects and vision?

Since establishing our corporation in Korea in April of last year, we have received support from the Ministry of Culture, Sports, and Tourism, Korea Tourism Organization, and Ministry of SMEs and Startups. We quickly expanded our team and network, achieving recognition as an excellent startup and securing significant funding.

Our next goal is overseas expansion, targeting Japan, Southeast Asia, and the U.S. simultaneously. In Japan, we plan to partner with galleries, hotels, and art associations to host events featuring works by Korean and Japanese artists, musicians, dancers, and K-pop and K-drama related events. This will drive continuous platform usage and project creation through subscriptions.

Our long-term goal is to list on NASDAQ within five years. Entering the U.S. market is crucial, where artists face similar platform shortages and investment barriers as in Japan and Korea. By transforming the monopolistic and opaque art market globally, we aim to offer transparent and enriching artistic experiences, improving lives through art. Remember EverTreasure as a company with an innovative approach to the art ecosystem.