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- RMS Titanic is collaborating with Venture Smart Financial Holdings and Artifact Labs to tokenize artifacts from the Titanic wreck as non-fungible tokens (NFTs), allowing the public to own a share.
- Venture Smart Financial Holdings will create tokenized instruments for accredited investors to enable compliant capital raising for RMST’s assets, while Artifact Labs will create the NFTs for recovered artifacts from the Titanic.
- Artifact Labs will also launch the Titanic DAO, a governance token that will manage the treasury funded by proceeds from Titanic NFT sales, allowing members to participate in select initiatives related to the preservation and exhibition of recovered artifacts.
RMS Titanic (RMST), which has exclusive salvage rights over the wreck and the wreckage site of the Titanic collaborated with the Hong Kong-based Venture Smart Financial Holdings, and Web3 firm Artifact Labs to “bring the RMS Titanic and its physical artifacts into Web3”.
“We are very excited at the ground-breaking opportunity to expand our Titanic Community, further our mission, and to make this historical and educational content accessible to the public through new platforms. NFTs provide a modern-day, elegant solution which allows the public to participate in carrying the legacy of the Titanic and Her passengers forward,” said Jessica Sanders, CEO E/M Group, President, RMS Titanic, Inc.
Through blockchain technology the artifacts from the Titanic will be preserved as non-fungible tokens (NFTs) which will allow RMST to share ownership to the general public.
Tokenizing the Titanic
According to the announcement, Venture Smart Financial Holdings will “lead in structuring the tokenization of the intellectual property and also develop tokenized instruments for accredited investors, drawing on its expertise as a licensed virtual asset manager. This will enable compliant capital raising for the ongoing research, recovery, preservation, exhibition, and licensing of RMST’s assets.”
“The Titanic’s artifacts have been highly sought after for over a century because of what they represent. Many people in the international community care deeply about preserving the integrity of the original artifacts. We believe this partnership with RMST and Artifact Labs can further this purpose by bringing in Web3 and virtual assets solutions,” Founder and Chairman of VSFG Lawrence Chu expressed.
On the other hand, Artifact Labs is tasked to create the NFTs for the 5,500 recovered artifacts from the Titanic through its in-house NFT blockchain system. As per the media release, the other artifacts that will be retrieved in the future are also set to be minted as NFTs.
“The Titanic NFTs will expand an engaged community of collectors who will contribute to the preservation of maritime history while unlocking exclusive benefits, including VIP events at exhibitions, seminars with historians, and privileged access to one-of-a-kind experiences. Additionally, Titanic NFTs will provide an opportunity for Titanic enthusiasts to digitally interact with RMST’s content outside of the physical exhibitions,” the announcement reads.
Gary Liu, Founder of Artifact Labs, also highlighted that, “the Titanic is one of the most treasured pieces of history in the world, and we are privileged to be part of its story. This incredible project will forever preserve the ocean liner on the blockchain and further expand its impact and importance to a global audience. This partnership exemplifies the mission of Artifact Labs and we are delighted to now be among the Titanic’s guardians.”
Moreover, they also teased that the debut collection will feature an ultra-limited edition of digital collectibles which will lay the foundation for the Titanic’s Web3 community.
Artifact Labs also revealed that they will launch the Titanic DAO (Decentralized Autonomous Organization). According to them the members of the DAO will participate in select RMST and E/M Group initiatives, including proposals on future dive expeditions to the Titanic site, development of education programming, digital content and documentaries, research initiatives, partnerships, hosted events, and the strategic direction for the preservation and exhibition of recovered artifacts.
Accordingly, the DAO treasury will also be managed by members through governance tokens and will be funded by proceeds from Titanic NFT sales.
This article is published on BitPinas: Titanic NFTs: Wreckage to be Tokenized and DAO to be Formed
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.