Tokenisation of the intellectual property associated with the sunken ship has been developed by Artifact Labs, a Hong Kong-based Web3 and NFT company, in collaboration with RMS Titanic (RMST), the company behind Titanic exhibitions, and Venture Smart Financial Holdings (VSFG), a Hong Kong-based asset management firm. Together, they plan to mint ‘ARTIFACTS’ tokens representing the 5,500 physical artefacts recovered from the Titanic, as well as tokens representing artefacts recovered in future expedition dives.
Expanding the Titanic Community
Limited quantities of special tokens with unique advantages will be available in the first Titanic NFTs collection. Among these are special events for invited guests at museums, lectures by eminent historians, and other once-in-a-lifetime opportunities. The creators of this initiative hope that more people will become interested in maritime history collecting to help keep it alive. It also gives people interested in the Titanic a way to engage with RMST’s content digitally in places where it isn’t physically on display. The press release says that people who buy the debut collection will be the first people to join the Titanic Web3 community.
Tokenising Intellectual Property
VSFG’s role in the partnership entails designing the framework for tokenizing the IP and creating tokenized instruments for qualified investors. In this way, compliant capital can help RMST finance its ongoing efforts to study, recover, preserve, exhibit, and licence its assets to the public. The Titanic will be preserved on the blockchain for all time, and its significance and impact will be shared with people all over the world thanks to this project.
Titanic DAO
Artifact Labs will also be launching the Titanic DAO (decentralised autonomous organisation), whose members will take part in a variety of RMST and E/M Group projects, including dive expeditions to the Titanic site, the creation of educational programming, digital content and documentaries, the preservation and exhibition of recovered artefacts, and more. The release claims that the funds from the sale of Titanic NFTs will be used to fund the DAO treasury, which will be managed by members using governance tokens. Saving Past Times for the Next Generation
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Gary Liu, founder of Artifact Labs, expressed his excitement about being part of the Titanic’s story, stating that “This incredible project will forever preserve the ocean liner on the blockchain and further expand its impact and importance to a global audience.” The president of RMS Titanic, Jessica Sanders, emphasised the partnership’s commitment to preserving the ship’s artefacts for the benefit of future generations. By expanding into the digital realm, RMST will be able to reach more people with its high-caliber, thought-provoking content.
Recent Developments
The Securities and Futures Commission (SFC) has started a public consultation to allow retail investors to buy major cryptocurrency tokens like bitcoin and Ether, which is related to the Hong Kong market. The Securities and Futures Commission (SFC) has released a new consultation paper that aims to set standards for the marketing and sale of virtual asset funds and portfolios to individual investors.
