Integrated Media Technology Limited announced the signing of an exclusive NFT creation agreement with Wan Fung Art Gallery to mint their Masterpieces of Chinese fine art for sale on IMTE's Ouction marketplace. The exclusive agreement is for a term of one year and renewable upon the agreement of both parties. Wan Fung Art Gallery, located in Hong Kong, has been in operation since 1986.

Wan Fung Art Gallery focus on the sale of paintings, calligraphies, drawings and artifacts. Wan Fung Art Gallery has galleries in Beijing, Shanghai and Guangzhou and in Hong Kong which was ranked as one of the top 10 galleries in China. Pursuant to the Agreement, IMTE shall mint the art works into NFT at no cost to Wan Fung Art Gallery, and these NFTs will be sold on Ouction marketplace.

A total of about 500 NFTs are expected to be minted and available on the Ouction platform in February 2021.