Titanic Mass Grave Site To Be Pillaged For NFTs

RMS Titanic Inc (RMST), which has been collecting artifacts associated with the ship since the 1980s, has hooked up with NFT flinger Artifact Labs and Venture Smart Financial Holdings to “bring the RMS Titanic and its physical artifacts into Web3.” The Register reports: Aiming to “place the legacy of the Titanic in the hands of the global public,” at least those dumb enough to dabble in NFTs, the name of the game is to preserve “assets from the ocean liner as immutable NFTs” and allow “inclusive participation in RMST, which holds the exclusive rights to recover artifacts from the wreck site.” According to the announcement, Venture Smart Financial Holdings, Hong Kong’s first approved virtual asset manager, will “lead in structuring the tokenization of the intellectual property and also develop tokenized instruments for accredited investors, drawing on its expertise as a licensed virtual asset manager. This will enable compliant capital raising for the ongoing research, recovery, preservation, exhibition, and licensing of RMST’s assets.”

Artifact Labs will then go about “immutably” preserving “5,500 recovered physical artifacts from the Titanic with its NFT standard for historical assets on the blockchain.” RMST controversially has sole salvaging rights to the wreck so fresh relics from future dives will be minted as “ARTIFACTs.” Jessica Sanders, RMST president, said: “We remain dedicated to sharing the legacy of the Titanic, her passengers and crew, with people around the world. 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. We believe that moving into the digital space allows us to reach a broader audience with quality programming that educates and inspires. We are excited to have found the expertise and partners to help us reach those goals.” “While RMST goes to great pains to paint it in a sympathetic light, the actions of the company show that the world’s most famous shipwreck is just there to be milked — hence NFTs as another revenue stream,” adds The Register.