The company behind the sunken ship’s exhibitions, RMS Titanic Inc., has partnered with Artifact Labs, a Hong Kong-based Web3 firm, to mint relics from the ship on the blockchain as NFTs. This is according to an official statement seen earlier today.
The goal is to “bring the RMS Titanic and its physical artefacts into Web3.” Additionally, both seek to “place the legacy of the Titanic in the hands of the global public.” That said, this partnership will see 5,500 physical artefacts recovered from the Titanic turned into NFTs. Also, this will happen to any other artefacts that are found on the ship in the future.
As part of this joint project, Artifact Labs will launch the Titanic DAO (Decentralized Autonomous Organization). It will allow members and collectors of these NFTs to participate in future initiatives. More details on the deal will be released over time.
The Titanic sank in 1912 on its maiden voyage after striking an iceberg. It would take 73 years before the wreckage was found. Interesting artefacts that have been recovered on the ship include a pair of gloves, a violin, a menu from the day the ship sank, and a pocket watch that was stuck at the time the ship went down.
Artifacts Labs is collaborating with Venture Smart Financial Holdings, a Hong Kong-based asset management firm, on this venture. The NFT firm is owned by the South China Morning Post.
The Collaboration With Artifact Labs Comes At An Opportune Time For Hong Kong
The partnership between RMS Titanic and the two Hong Kong firms comes at a time when the city is working hard to become the region’s digital asset hub. So far, favorable regulations have been launched, aiming to bring back crypto-related businesses that left a few years ago.
The Hong Kong Securities and Futures Commission (SFC) announced earlier this week that retail investors in the city would be able to purchase large-cap digital assets on licensed platforms beginning in June.