The South China Morning Post (SCMP) has launched a non-fungible token (NFT) standard for recording historical records on the blockchain.
- The newspaper introduced "ARTIFACT," a standardized model for recording accounts of history and historical assets on the blockchain as NFTs.
- The paper, bought by Alibaba in 2016, will start with a collection of NFTs minted from historical moments drawn from the archive of its 118-year history.
- The venture will harness "a few selected blockchains" the SCMP has yet to identify. The plan is for ARTIFACT to eventually be chain-agnostic.
- While NFTs representing historical events have attained widespread popularity, these have been mainly for collectible purposes and often draw from the entertainment world, such as sport or music.
- Minting records of historical interest in the form of newspaper articles could represent a compelling use case for blockchain technology.
- "The Post believes that factual accounts of history and authentic historical assets should be immutable, and that ownership of these digitised and tokenised assets, which are part of our collective human experience, should be decentralised," the announcement said.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.