Physical artifacts recovered from the Titanic wreck will be marked as NFTs and shared with the world through a new, three-way partnership.
The collaboration includes RMS Titanic (RMST), which has exclusive salvage rights to the wreck and wreck site of Titanic, Hong Kong-based venture Smart Financial Holdings, and Web3 firm Artifact Labs.
The three companies will begin tokenizing valuable Titanic artifacts to unlock countless Web3 functions. The plan is to preserve some of the artifacts as NFTs and share ownership with the public.
“It will establish the legacy of the creative project Titanic By preserving the assets from the ocean liner in the hands of the global public as immutable NFTs and allowing inclusive participation in RMST,” the three companies Said in a press release.
Artifact Labs aims to characterize a total of 5,500 physical artifacts recovered from the ship as well as artifacts that may be recovered in the future. The company will also launch Titanic DAO (Decentralized Autonomous Organization), through which members can participate in future initiatives.
Venture Smart Financial Holdings will be tasked with structuring the intellectual property tokenization associated with the artworks. It is intended to offer tokenized instruments to accredited investors in order to create an avenue to “raise compliance capital” to fund the ongoing research, recovery, conservation, exhibition and licensing of RMST’s assets.
“We remain dedicated to sharing the legacy of TitanicHer passengers and crew, along with people from around the world,” RMS Titanic chair Jessica Sanders said in a comment, adding:
“as the savior of Titanic site of the wreck, we are determined to ensure that the ship’s artifacts are preserved forever and are accessible for generations to come. We believe that moving into the digital space allows us to reach a wider audience with quality programming that educates and inspires. We’re excited to have the expertise and partners to help us reach those goals.”
Titanic was a British passenger liner operated by the White Star Line. The ship struck an iceberg and sank during its maiden voyage in April of 1912, killing 1,500 people. A shipwreck discovered nearly four decades ago at the bottom of the North Atlantic has attracted global attention.
Two Hong Kong companies involved in the initiative
It is worth noting that both Venture Smart Financial Holdings (VSFH) and Artifact Labs are Hong Kong based companies. The collaboration comes as the city pushes for more crypto-friendly regulations in a bid to reclaim its status as a global crypto hub.
As informed ofHong Kong’s Securities and Futures Commission (SFC) has unveiled a new regulatory regime that allows retail investors to trade certain “large-cap tokens” on licensed exchanges, subject to knowledge tests, risk profiles and exposures. But there are safeguards like reasonable limits. put in place.
Hong Kong’s bid to become a bigger player in Web3 includes new regulations covering multiple virtual asset types, including NFTs. the city’s financial chief Paul Chan has said he will Allocates $6.4M To Accelerate The Development Of The Web3 Ecosystem and to unlock the potential of what he referred to as the “third generation Internet”.
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