A Web3 and NFT company dedicated to preserving history has raised a huge $3.25 million in funding! In fact, blockchain-based technology and NFTs are gaining increasing interest in various fields, including historical preservation. Artifact Labs, the Web3 and NFT company, recognizes the potential of this technology in preserving history. The Hong Kong-based hedge fund manager Blue Pool Capital led the funding round, with significant participation from Animoca Ventures, a renowned Web3 investment firm. This new investment will allow Artifact Labs to expand its efforts. They aim to digitize history, artifacts, and documents and preserve them for future generations using NFTs. Let’s take a closer look!
Artifact Labs and the Potential of NFTs in Preserving History
Artifact Labs started as a project under the South China Morning Post (SCMP), a prominent newspaper in Hong Kong owned by Alibaba. The project involved turning SCMP’s front pages from 1997 into history NFTs, with varying rarity levels depending on the historical significance of each day. After a series of NFTs commemorating the handover of Hong Kong from the UK to China generated $260,000 in sales, Artifact Labs recognized the potential of NFTs in preserving history. Significantly, this initiative allowed the artifacts to be immutable, ensuring their preservation for future generations.
Since then, Artifact Labs has partnered with cultural organizations like the Hong Kong Philharmonic Orchestra and RMS Titanic Inc. In collaboration with RMS Titanic Inc., they will create NFTs of the ship’s artifacts on the blockchain, preserving the history. Additionally, they will establish the Titanic DAO. This is a platform for NFT collectors to contribute to future projects. Through these collaborations, Artifact Labs aims to empower historical custodians to enhance the significance of their prized assets by transforming them into “ARTIFACTs” using tokenization.
Building a Decentralized Future for Historical Preservation: Artifact Labs’ Expansion Plans
With the new funding, Artifact Labs plans to expand its operations and hire more developers. Moreover, the company aims to use its skills in blockchain-based historical preservation. They also hope to tokenize more artifacts into history-based NFTs and make them accessible to the public. In addition, by digitizing historical artifacts, Artifact Labs aims to preserve their value and significance for future generations.
Overall, Artifact Labs’ recent $3.25 million funding round represents a growing interest in NFT and blockchain-based history. The company aims to empower historical custodians to preserve their prized assets for future generations. Furthermore, through collaborations with cultural organizations, Artifact Labs is working to create a decentralized platform for NFT collectors to contribute to upcoming projects. Significantly, the new funding will allow Artifact Labs to expand its operations and hire more developers. This will enable the company to tokenize more artifacts and make history NFTs accessible to the public. Ultimately, Artifact Labs is dedicated to utilizing blockchain technology to enhance the significance of historical artifacts and make them accessible to the public.
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