Titanic’s historical artifacts are to be preserved as NFTs
RMS Titanic undergoing sea trials on April 2, 1912. RMS Titanic, Inc., which holds the exclusive rights to recover artifacts from the ill-fated ocean liner, is working with NFTs and virtual trust companies to preserve Titanic’s assets as immutable NFTs. Archive Photo courtesy of the National Archives
Artifacts recovered from the wreckage of the RMS Titanic are on display at the Intrepid Sea, Air & Space Museum before being auctioned off in New York City on January 5, 2012. File photo by John Angelillo/UPI/
Artifacts recovered from the wreckage of the RMS Titanic are on display at the Intrepid Sea, Air & Space Museum before being auctioned off in New York City on January 5, 2012. File photo by John Angelillo/UPI/
RMS Titanic, Inc., which has the exclusive rights to recover artifacts from the ill-fated ocean liner, is partnering with Artifact Labs and Venture Smart Financial Holdings, Ltd. to preserve Titanic’s assets as immutable NFTs. Image courtesy of Artifact Labs
Feb. 21 (UPI) — RMS Titanic, Inc., which has the exclusive rights to recover artifacts from the ill-fated ocean liner, works with NFTs and virtual trust companies to preserve Titanic’s assets as immutable NFTs.
Hong Kong-based Venture Smart Financial Holdings Ltd. is partnering with RMST-affiliated Experiential Media Group, which operates Titanic exhibits worldwide, to symbolize the property recovered from the seabed. The partners say the money raised will fund ongoing research, extraction and conservation.
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Artifact Labs, an independent Web3 and NFT company, plans to preserve approximately 5,500 recovered physical artifacts from the Titanic using its NFT standard for historical assets on the blockchain.
NFTs stand for non-fungible tokens, which are unique pieces of digital data stored on a blockchain ledger. NFTs can be a digitized copy of anything and are most commonly associated with digital artwork.
According to the partners, Titanic NFTs will allow Titanic enthusiasts to digitally interact with RMST’s content outside of the physical exhibits that have drawn more than 30 million people.
The Titanic struck an iceberg and sank, killing 1,500 people while on its maiden voyage in April 1912. Discovered nearly four decades ago at the bottom of the North Atlantic, the wreck has captured the imagination of oceanographers, historians and the public.
Last week, a rare video was released by the Woods Hole Oceanographic Institution, which discovered the ship in 1985. The release coincided with the 25th anniversary of the 1997 film Titanic.
“We remain dedicated to sharing the legacy of Titanic, her passengers and crew, with people around the world,” Jessica Sanders, president of RMS Titanic, Inc., said in a statement Tuesday.
“As the salvager in possession of the Titanic wreck site, we are determined to ensure that the ship’s artifacts are preserved in perpetuity and available to future generations,” Sanders added. “We believe that moving into the digital space allows us to reach a wider audience.”
“Titanic’s artifacts have been highly sought after for over a century because of what they represent. Many people in the international community care deeply about preserving the integrity of the original artifacts,” Lawrence Chu, VSFG founder and chairman, said in a statement . “We believe that this partnership with RMST and Artifact Labs can advance that purpose by bringing in Web3 and virtual asset solutions.”
“Titanic is one of the most valuable pieces of history in the world,” said Gary Liu, founder of Artifact Labs. “This incredible project will forever preserve the ocean liner on the blockchain and further expand its impact and importance to a global audience.”
