1 of 4 | RMS Titanic during sea trials on April 2, 1912. RMS Titanic, Inc., which holds the exclusive rights to recover artifacts from the ill-fated ocean liner, is partnering with NFT and virtual asset management companies to preserve Titanic’s assets as immutable NFTs.
File Photo courtesy National Archives
Feb. 21 (UPI) -- RMS Titanic, Inc., which holds the exclusive rights to recover artifacts from the ill-fated ocean liner, is partnering with NFT and virtual asset management companies to preserve Titanic's assets as immutable NFTs.
Hong Kong-based Venture Smart Financial Holdings Ltd. is partnering with RMST affiliate Experiential Media Group, which operates Titanic exhibitions throughout the world, to tokenize the property brought up from the ocean floor. The partners say the money raised will fund ongoing research, recovery and preservation efforts.
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 often 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 exhibitions that have drawn more than 30 million people.
Titanic hit an iceberg and sank, killing 1,500 people, while on its maiden voyage in April of 1912. The shipwreck, which was discovered nearly four decades ago at the bottom of the North Atlantic, has captured the imagination of ocean explorers, historians and the public.
Last week, 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 the Titanic, her passengers and crew, with people around the world," Jessica Sanders, president of RMS Titanic, Inc., said in a statement Tuesday.
"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 added. "We believe that moving into the digital space allows us to reach a broader audience."
"The 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, founder and chairman of VSFG, said in a statement. "We believe this partnership with RMST and Artifact Labs can further this purpose by bringing in Web3 and virtual assets solutions."
"The Titanic is one of the most treasured 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."
