The Titanic, the iconic ocean liner that sank over 110 years ago in the North Atlantic Ocean, is now set to be tokenized as non-fungible tokens (NFTs) and shared with the world through a new partnership using blockchain technology.
RMS Titanic (RMST), Hong Kong-based Venture Smart Financial Holdings, and Web3 firm Artifact Labs have joined forces to create a tokenized ecosystem around the iconic ship and its legacy. The partnership aims to unlock a variety of Web3 features using blockchain technology.
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RMST holds exclusive rights to recover artifacts from Titanic wreckage, while Venture Smart Financial Holdings will be tasked with structuring the tokenization of intellectual property linked to these artifacts.
The tokens are intended to be offered to accredited investors, opening up new avenues for compliant capital raising to support ongoing research, recovery, preservation, exhibition, and licensing of RMST’s assets.
Digital preservation of the Titanic
Artifact Labs will create NFTs for 5,500 recovered artifacts from the sunken ship using its in-house blockchain system. Future artifacts retrieved from the wider debris field from the bottom of the North Atlantic Ocean are also set to be minted as NFTs.
These tokens will offer exclusive benefits to collectors, including VIP events and exhibitions, seminars with historians, and other exclusive experiences. In addition, these NFTs will provide collectors with a digital method of interacting with RMST content outside of physical exhibitions in Atlanta and Las Vegas.
A recently released statement revealed that the upcoming Titanic NFT collection will be made up of an extremely exclusive set of digital collectibles, setting the precedent for the Titanic’s Web3 community.
Introducing the Titanic DAO
In addition to the NFTs, Artifact Labs plans to create the Titanic DAO, a decentralized autonomous organization, that will allow members to participate in various initiatives and proposals for future exhibitions at the Titanic site.
In addition, the DAO will enable the creation of educational programs, digital content and documentaries, research, partnerships, and events. Members of the DAO are expected to have a voice in the preservation and exhibition of recovered artifacts from the wreckage.
RMST president Jessica Sanders emphasized in a statement that the partnership aims to preserve the legacy of the Titanic and its artifacts by utilizing digital innovations such as blockchain technology and NFTs:
“As the legal salvor-in-possession of the Titanic wreck site, RMST is committed to preserving the artifacts for future generations while making them accessible to a wider audience. Sanders believes that moving into the digital space provides an opportunity to reach a broader audience and create quality programming that educates and inspires.”
This tokenization effort brings a new level of accessibility and shared ownership to these precious artifacts. It also highlights the potential for blockchain technology to revolutionize the way we think about preserving historical artifacts and making them accessible to a wider audience.
