Several artifacts have been recovered from the wreckage of the Titanic. Three companies decided to join forces to convert them into NFT. These are RMS Titanic (RMST), Venture Smart Financial Holdings and Web3 company Artifact Labs. Here is the basics of this new tripartite partnership.
An NFT partnership in which each member plays a key role
The RMST company represents the steward of the Titanic, the famous ship that sank. She is the holder of the exclusive rights to recover the remains of the ship from the bottom of the North Atlantic Ocean. That said, she agreed to tokenize the precious Titanic artifacts using blockchain technology. The steward of the sunken ship will allow the general public to access these treasures in the form of NFTs.
Each of the members of the tripartite partnership, which will make it possible to carry out the new project, plays an essential role. For example, Venture Smart Financial Holdings will structure the tokenization of intellectual property related to artifacts. Accredited investors can then be offered the tokenized instruments.
This will create an avenue to raise capital that will be used to finance the realization of the new project. The latter is subdivided into several phases, including the search and recovery of the assets of the RMST company. There is also the preservation, display and licensing of the assets in question.
At the same time, Artifact Labs will be charged of the creation of NFTs. Non-fungible tokens will be created for 5,500 items recovered from the Titanic. Minting of the tokens will be done through Artifact Labs’ internal NFT blockchain system.
Artifacts will also undergo conversion to NFT. Additionally, Artifact Labs plans to create the Titanic CAD. This will allow members to participate in various projects and proposals for future exhibitions on the Titanic site.
It appears that the new partnership could unlock a wide range of Web3 features. In particular, it will make it possible to set up the foundations of the Titanic’s Web3 community. The NFTs created will provide exclusive benefits to those who hold them. Collectors will notably be able to take part in VIP events and exhibitions. They will also have access to seminars with historians. They will have many other exclusive experiences like interacting with RMST content outside of the scheduled physical exhibits. These should take place in Atlanta as well as in Las Vegas.
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