The world’s cultural heritage is preserved one NFT at a time

by · October 20, 2022

The use cases of non-fungible tokens (NFTs) have evolved from pixelated punks and monkeys to real-world applications such as real estate contracts and music royalties. Another use case emerges as Monuverse uses NFTs to preserve cultural heritage around the world.

Through a combination of blockchain technology, 3D imagery, generative art and local collaboration, Monuverse uses NFTs to bring important global monuments into the digital reality where they will be preserved indefinitely.

The first NFT project of this caliber from Monuverse highlights the Arco della Pace, or Peace Arch, in Milan, Italy.

The first digital rendering of the monument will not be available for individual ownership under the law of intellectual property rights and the authorization of the Italian Ministry of Culture: Archaeology, Art and Landscape, the Milan Authority.

However, a subsequent drop of 7,777 randomized NFTs grants individuals a portion of the monument’s virtual counterpart and access to related events. These NFTs also open up a new way for owners to protect cultural heritage.

Cointelegraph spoke with Andrea Salomone, one of the founders of Monuverse, to understand how NFTs can help further preserve this cultural heritage and boost virtual tourism efforts.

Related: Web3 technologies can be a game changer for the travel industry

NFTs are expected to be an important tool in bringing the next billion users into the crypto space. This will especially be the case if they are linked to already known and valued elements of their cultural heritage, creating a sense of familiarity.

Salomone said that when NFTs of monuments are created, it will help create “a tangible bridge between realities” and contribute to a virtual ecosystem.

“Being one of the virtual owners of a real historical monument should come with both feelings: not only do you own a cool piece, but you actively contribute to preserving heritage in an innovative and fun way.”

The virtual preservation of monuments means that they will be frozen in time as they are now. If global conflicts or natural erosion take place in the real world, virtual reality will have an untouched version for future generations to enjoy.

“Owning a Monuverse NFT is not only an honor but also a responsibility,” said Salomone.

An important aspect of this project is that part of the income from the NFT drops provides “perpetual funding” to the local institutions to which these monuments belong.

“[Funding] will accelerate the maintenance and restoration of monuments around the world, many of which are truly at risk.”

Salomone said this is definitely something the project plans to “change for the better.”

Apart from cultural heritage, NFTs can create new opportunities for the world of virtual tourism in Web3. While virtual reality and augmented reality have been important in creating digital experiences, Marec believes they cannot do it alone.

“Web3 will be critical in this field because it will take people’s experiences to a whole new level. I think the key word here is ownership.”

According to the Monuverse co-founder, virtual tourism can take on a new level of attachment to a place as visitors who own a related NFT can develop a real sense of ownership and belonging like never before.

Metaverse events in historical locations have already proven to be innovative ways to connect the past to the future.