South China Morning Post Will Turn Historical Events Into NFT
The South China Morning Post announced its intention to miner historical reports and non-fungible token format assets using its own standardized blockchain-based recording model, ARTIFACT.
The publication intends to start the first compilation called “ARTIFACTs by SCMP” with “archival” NFTs, created based on significant moments that have occurred over the past 118 years. In this she was helped by partners from The Sandbox developers of the virtual world, in which players monetize their gaming experience on the Ethereum blockchain.
The newspaper's concept is that historical data must remain unchanged, since they are all part of the common experience of humanity, which needs to be decentralized and “digitized”. By converting to non-fungible token format, the team hopes to preserve memorable moments unchanged for the edification of posterity. In parallel with this, a metadata structure is being developed, which will be used in the future to tokenize history.
SCMP CEO Gary Liu said that the blockchain holds limitless potential for journalism through the ability to permanently store materials that can carry the most important events through the thick of the centuries. According to him, the team is very pleased to provide their ARTIFACT standard for use around the world.
The project starts based on several blockchains, but in the long term, the developers intend to make it independent of the chains. Initially, only partners of the publication and those who keep original historical materials will be able to minte their NFTs, and according to the ARTIFACT roadmap, the creators intend to transform the minting process so that any person in the future can tokenize the asset using the standard developed by SCMP.
The creation of NFT SCMP was inspired by a newspaper archive of documentary photos, illustrations, as well as data visualization and infographics. The publication team claims that all of the objects they have selected are "first sketches of history" and include not only photographs and text, but also cartoons accumulated by SCMP over the past century.