Titanic artifacts to be tokenized as NFT with new partnership
Artifacts recovered from the wreckage of the Titanic are set to be tokenized using blockchain technology through a partnership driven by the company that acts as the steward of the sunken vessel.
A three-way partnership involving RMS Titanic Inc. (RMST), Hong Kong-based Venture Smart Financial Holdings and Web3 firm Artifact Labs will begin tokenizing precious artifacts from the Titanic to unlock a myriad of Web3 functionalities.
Select artifacts from the sunken Titanic will be preserved as nonfungible tokens (NFTs), which is aimed to open up shared ownership to the wider general public. RMST holds the exclusive rights to recover artifacts from the Titanic and its wider debris field from the bottom of the North Atlantic Ocean.
Venture Smart Financial Holdings will be tasked with structuring the tokenization of intellectual property linked to these artifacts. The tokenized instruments are intended to be offered to accredited investors, with the aim of creating an avenue for ‘compliant capital raising’ to fund ongoing research, recovery, preservation, exhibition, and licensing of RMST's assets.
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Artifact Labs will create NFTs for 5,500 recovered artifacts from the sunken ship using its inhouse NFT blockchain system. Future artifacts recovered from the resting place of the Titanic are also set to be minted as NFTs.
These NFTs are touted to offer exclusive benefits to collectors, including VIP events and exhibitions, seminars with historians and other exclusive experiences. The NFTs are also meant to create a digital means to interact with RMST content away from physical exhibitions in Atlanta and Las Vegas.
According to the announcement, the
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