The preservation of history got a boost this week. MS Titanic, Inc. and their partners announced that Titanic collections are coming to Web3.
Artifact Labs, RMS Titanic, Inc., and Venture Smart Financial Holdings (VSFG) are the companies behind the move to bring the RMS Titanic and its artifacts into Web3.
The trio made the announcement via a press release on Thursday, February 23, 2023. The release stated that the project would bring the legacy of the sunken ocean liner to the public by tokenizing all the assets that are associated with the ship, which sank on April 15, 1912.
A mission to preserve history
RMS Titanic, Inc. (RMST) is the exclusive steward of the ill-fated ship and a subsidiary of Premier Acquisition Holdings. They’re collaborating with Venture Smart Financial Holdings Ltd. (VSFG), an asset management company based in Hong Kong, and Artifact Labs, a Web3 platform with the mission to “preserve and connect history on the blockchain.”
According to the release, the project will bring the ocean liner and its physical artifacts into Web3. This will unlock the value in them and the associated intellectual property.
It added that making the physical assets into NFTs confers immutability. The purpose is to make them easily accessible to the public. RMST currently has the exclusive right to recover artifacts from the wreckage. Experiential Media Group, an affiliate of RMST, is the company behind the Titanic exhibitions, which have been visited by 30 million people.
Tokenization of the intellectual property
VSFG will take the lead by tokenizing the intellectual property. The firm will also build tokenized instruments for accredited investors. This will take advantage of its experience in the digital asset management space. Lawrence Chu, founder and chairman of VSFG, said,
“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 asset solutions.”
The preservation of artifacts on Web3
Artifact Labs, will work on the preservation of the approximately 5,500 artifacts collected from the Titanic. Using the NFT standard, these will be immutably recorded on the blockchain for posterity. Future recoveries at the site of the wreck will also be tokenized. This would ensure that this piece of maritime history is not lost. Collectors of the NFTs will reap benefits, according to the release. These include VIP access to exhibitions and interactions with historians knowledgeable about the ocean liner. It gives collectors the opportunity to interact with artifacts from the Titanic beyond the physical exhibitions.
Sharing the legacy of Titanic
Speaking on the project, the president of RMS Titanic, Inc., Jessica Sanders, said,
“We remain dedicated to sharing the legacy of the Titanic, her passengers, and crew with people around the world. As the salvor-in-possession of the Titanic wreck site, we are determined to ensure that the ship’s artifacts are preserved in perpetuity and accessible to future generations. We believe that moving into the digital space allows us to reach a broader audience with quality programming that educates and inspires. “We are excited to have found the expertise and partners to help us reach those goals.”
One of the most treasured pieces of history
The initial collection will be ultra-limited edition NFTs. These would be held by collectors who would form the Titanic’s first Web3 community. Artifact Labs will create the Titanic DAO (decentralized autonomous organization). Like all DAOs, its members will vote to determine critical issues such as project direction and initiatives. Its governance token will be managed by the DAO Treasury, and funded by NFT sales.
Gary Liu, Founder of Artifact Labs, said,
“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.”