Non-fungible tokens (NFTs) will be created from selected Titanic artifacts to allow for shared participation in the ownership of these items.
In order to access a wide range of Web3 features, RMS Titanic (RMST), Venture Smart Financial Holdings (Hong Kong), and Artifact Labs (Web3) have formed a collaboration to begin tokenizing Titanic artifacts of great value.
Artifacts from the Titanic and its surrounding debris field are located at the bottom of the North Atlantic Ocean, and RMST has sole rights to retrieve them.
It was announced that the first set of Titanic NFTs would be a very exclusive digital collection that would serve as the cornerstone of the Titanic's Web3 network.
For the 5,500 recovered relics from the lost ship, Artifact Labs will use its proprietary NFT blockchain system to issue NFTs. NFTs will also be issued in the form of any artifacts recovered from the Titanic's final resting place in the future.
The tokenization of intellectual property associated with the artifacts will be structured by Venture Smart Finance Holdings. In order to finance RMST's continuous research, recovery, preservation, exhibition, and licensing activities, tokenized instruments will be provided to accredited investors as a means of "compliant capital raising."
It is said that these NFTs provide collectors with unique opportunities, such as access to VIP events and exhibitions, lectures by renowned experts, and more. Besides the physical demonstrations in Atlanta and Las Vegas, the NFTs will develop a digital way to interact with RMST content.
In a statement, RMST president Jessica Sanders emphasized the effort's goal of using digital technologies like NFTs and blockchain technology to preserve the Titanic's memory and relics.
"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," Sanders said. "We believe that moving into the digital space allows us to reach a broader audience with quality programming that educates and inspires."
Additionally, Artifact Labs is proposing to establish the Titanic DAO (decentralized autonomous organization), which will provide members the opportunity to vote on and contribute to a wide range of ideas and proposals for future displays at the Titanic site.
The DAO will also play a role in the production of instructional materials, such as programs and films, as well as in the growth of related fields of study, businesses, and communities. Members of the DAO are also anticipated to have input on how the wreckage's retrieved relics are displayed for posterity.
Members will control the Titanic DAO's treasury via governance tokens, and the NFT sale revenues will pay the organization's operations.
