The recognisable Euro sign in Frankfurt has been saved by a new sponsor, the global fin-tech firm “Caiz Development.” This Tuesday, the public was given a first look at the new sponsorship plate (September 27).
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The well-known Ottmar Hörl sculpture was slated for auction sale in October after the “Frankfurter Kultur Komitee” declared that it was unable to continue paying the annual maintenance costs of about 200,000 euros, according to media reports.
Manfred Pohl, the founder and CEO of the “Frankfurter Kultur Komitee,” claimed that although the organisation has received alternative sponsorship offers, they would not permit the sculpture to remain at Willy-Brandt-Platz, where it has stood since 2001. The Euro emblem being placed on one of the Deutsche Bank towers was a serious proposition that was made, according to Pohl. Then it would be visible from the air when entering Frankfurt and would not be damaged.
However, a blockchain technology startup helped the sculpture stay in its customary spot. In response to cryptocurrencies, managing director of “Caiz Development” Joergen Hansen stated, “We are not a threat to the euro; the euro will always exist.” Let’s put it this way, though: We are giving it some technological assistance so that it can reach more people.
According to the “Frankfurter Kultur Komitee,” “Caiz Development” had committed to pay for the sculpture’s upkeep for the subsequent five years.
(with inputs from agencies)
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