More than 5.000 items and relics from the British ocean liner will be tokenized on the blockchain as NFTs by the RMS Titanic company, the company solely responsible for recovering the ship's lost objects.
RMS Titanic expressed its intention to Preserving and connecting the history of the Titanic on the blockchain, bringing the thousands of physical objects recovered from the British ocean liner as immutable NFT tokens on-chain.
To do so, RMS Titanic, the company responsible for recovering lost artifacts and relics from the shipwreck site, has partnered with Hong Kong-based digital asset manager Venture Smart Financial Holdings and Web3 startup Artifact Labs. The partnership between these three companies was announced via RMS Titanic’s official Twitter account.
Jessica Sanders, president of RMS Titanic, highlighted that technology Blockchain and NFTs will help preserve the integrity of ship objects, to ensure that they are preserved in perpetuity and, at the same time, are accessible to future generations.
The Titanic was one of the largest ocean liners built in the world. It was a passenger ship that sank in 1912 during its maiden voyage after hitting an iceberg in the Atlantic Ocean. 1496 people of the 2208 on board the ship died at the site of the shipwreck.
More than 5.000 Titanic objects will be tokenized as NFTs
RMS Titanic claims to own 5.500 Titanic items to be brought to the blockchain as NFTs through the ARTIFACTs project. Although the company did not provide details on when these objects will be available on the blockchain, it assured that the project will allow “putting the legacy of the Titanic into the hands of the global public.”
The tokenization of these thousands of objects on the blockchain as NFTs will be handled by the company Web3 Artifact Labs, which will be responsible for preserving the physical objects and artifacts recovered from the Titanic “using its NFT standard for historical assets on the blockchain.”
Artifact Labs will also be responsible for creating a DAO (Decentralized Autonomous Organization) that will manage various proposals related to the ocean liner, including research initiatives, documentary filmmaking, and diving expeditions to the wreck site.
Intellectual property and investment instruments
In addition, Venture Smart Financial Holdings will use its experience as a virtual asset manager to structure the tokenization of the intellectual property of the ship's objects, as well as to create new instruments for accredited investors.
Through NFTs, RMS Titanic seeks create the first Web3 community of collectors and historians around the Titanic, with the aim of raising new capital to fund the research, recovery, preservation and exhibition of the objects and assets recovered from the ocean liner.
In addition to preserving the ship's artifacts in digital form, NFTs will grant their holders various benefits and utilities, including access to VIP events such as exhibitions, seminars with historians, and more.
This is RMS Titanic’s second foray into the world of blockchain technology and non-fungible tokens. In April of last year, the company launched a giveaway for NFT coins as well as a host of photos and videos taken of the Titanic from the seabed. At the time, Sanders said that NFTs provide people with a unique opportunity to access historical and educational content about the ship and to own unique pieces that are part of history.
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