On their website, they describe the project as follows:
The 5th VH Award is an award for media artists. To develop the visual concept, we used the structure of displays—the environment and the tool of expression for media arts.
To interpret the function and shape of these components into typographic form, we analyzed the qualities of pixels, the smallest units that make up an image, and liquid crystals, which control lightness. The moving poster manifests the linear/modular structures of pixels and the fluid states of liquid crystals between solids and liquids.