Association to tokenize artifacts recovered from the Titanic

A cooperation being developed by the company responsible for managing the sunken ship will result in artifacts that have been salvaged from the wreckage of the Titanic being tokenized using blockchain technology.

RMS Titanic (RMST), a Hong Kong-based company called Venture Smart Financial Holdings, and Artifact Labs, a company specializing in Web3 technology, have formed a collaboration to begin tokenizing rare Titanic relics to release a wide variety of Web3. capabilities.

Certain items from the lost ship Titanic will be held as non-fungible tokens (NFTs), allowing the general public to participate in shared ownership of the artifacts. The RMST is the only organization authorized to recover items from the Titanic and the largest debris field it left behind on the ocean floor in the North Atlantic Ocean.

The tokenization of the intellectual property that is associated with the artifacts will be the responsibility of Venture Smart Financial Holdings, who will be given this duty. To facilitate “compliance money raising” to fund the ongoing research, recovery, preservation, display and licensing of RMST’s assets, it is planned to provide the tokenized instruments to accredited investors. This will establish a pathway for “raising compatible capital.”

Using the in-house NFT blockchain system that Artifact Labs has developed, the company will issue NFTs for each of the 5,500 items that were salvaged from the sunken ship. It has been decided that any future items recovered from the Titanic crash site will also be issued as NFTs.

These NFTs are said to provide collectors with a variety of special experiences, such as invitations to VIP events and exhibits, seminars led by historians, and other unique opportunities. Outside of the actual exhibits that will take place in Atlanta and Las Vegas, the NFTs will develop a digital method for interacting with RMST material.

The statement states that the first Titanic NFT collection would include an extremely limited number of digital artifacts. This will serve as the cornerstone for the Titanic Web3 community.

Artifact Labs also aims to establish a decentralized autonomous organization (DAO) called Titanic DAO. This would provide members with the opportunity to participate in a variety of activities and suggestions related to upcoming exhibits at the Titanic site.

The DAO will also facilitate the production of educational programs, digital material and films, research, collaborations and events. In addition, DAO members are expected to provide information on the preservation and display of objects salvaged from the rubble.

The Titanic DAO treasury will be managed by members with the use of governance tokens and will be funded by the proceeds from the sale of NFTs.