Quantum Temple, a Web3 startup, plans to preserve culture and heritage using NFTs.
The use of blockchain technology for the preservation of culture and tourism is an area that an Indonesian-based company is working on. The company, Quantum Temple, recently raised $2 million in pre-seed funding. It has also partnered with the Indonesian ministry of culture and tourism. This is aimed at preserving monuments using Web3 technology.
Underfunding of cultural heritage preservation
Quantum Temple founder and CEO Linda Adami is definitive on the organization’s vision. She said that they’re determined to change the dynamics of cultural preservation using blockchain technology. Adami is a beneficiary of the Dubai Future Foundation’s innovation accelerator program. She said that she is aware that cultural heritage preservation is underfunded.
“But what if we can create immutable archives of culture using NFTs and use them toward developing a new model for incentivizing current and future generations to stay involved in cultural heritage?”
Bridging global cultural heritage using blockchain technology
Her organization is at the forefront of using blockchain technology to preserve cultural heritage. A report from an interaction with Adami said that Quantum Temple is focused on bridging global cultural heritage and sustainable tourism using blockchain technology. It added that the startup’s business model takes advantage of local communities and interest groups to preserve monuments and relics for future generations.
A partnership with the Indonesian Ministry of Tourism
As already reported, Quantum Temple raised $2 million in pre-seed funding. The fund is intended to be used for the development of a blockchain network.
The Bali-based entity also announced a partnership with the Indonesian Ministry of Tourism. The partnership would see the startup create NFTs. This will be done in collaboration with local filmmakers, artists, curators, and anthropologists.
More benefits for local communities
The Quantum Temple business model shows that 40% of sales from NFTs will be used for the preservation of heritage sites and monuments in the Bali region of Indonesia. 40% is kept by Quantum, which would preserve 5% as a part of its impact fund. 10% is allocated to artists and creators working on various individual NFTs.
The Bali project is also looking at ensuring that local communities benefit more from the proceeds of tourism. Adami is aware of a UN World Tourism report that showed that only a small fraction of the funds spent by tourists circulate within the country. This is mainly due to the fact that the industry is controlled by big multinational companies that quickly move the funds out of the country.
Using modern blockchain solutions to preserve historic items
With the help of blockchain technology, Quantum Temple will work with local authorities and organizers of cultural events, such as Indonesian culture at Pura Tirta Empul, to preserve cultural heritage and bridge disparities in the industry.
Under the agreement with the ministry, the startup will create an avenue for Indonesian artists, musicians, and creators to showcase their works via Web 3.
Muhammad Neil El Himam, deputy of Indonesia’s Ministry of Tourism and Creative Economy, said,
“We are working hard to achieve our goal of growth and cultural expansion,” said Himam. “We are using modern blockchain solutions to preserve historic items and experiences and share our culture with the world.” “We hope to attract more people to participate in our digital and physical economies.”