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South China Morning Post to Tokenize Historical Assets with NFTs

UTC by Babafemi Adebajo · 2 min read
South China Morning Post to Tokenize Historical Assets with NFTs
Photo: Depositphotos

The SCMP has chosen several blockchains to kick-start the project including The Sandbox based on the Ethereum chain.

Leading news company South China Morning Post (SCMP) has announced it will tokenize historical assets of about 118 years on the blockchain in its “ARTIFACT” Litepaper.

In the Litepaper, SCMP presents the project as a standardized metadata structure to help preserve epoch moments from SCMP’s 118-year history using a decentralized system. South China Morning Post opined that the facts of history should be immutable, and digitizing, distributing and circulating these historical assets was one way to keep it so.

Speaking on the project, CEO of SCMP, Gary Liu said that “Blockchain offers immense potential to immutably preserve journalism that witnesses and explains history. The ‘ARTIFACT’ project is an opportunity to discover, collect, showcase, trade, and reanimate meaningful moments and objects from our collective human experience.”

Inspiration for the NFTs will be drawn from the news company’s archive which includes photographs, illustrations, data visualizations and infographics gathered for over a century. Thus, the newspaper will tokenize the historical assets.

According to the project roadmap, the token standard will not be constrained by the use of one singular blockchain protocol in the long run. However, the SCMP has chosen several blockchains to kick-start the project including The Sandbox based on the Ethereum chain.

Earlier today, The Sandbox, a subsidiary of Animoca Brands announced its partnership with the Hong Kong-based SCMP. The partnership will see Hong Kong come to life in the virtual gaming world of the Sandbox.

SCMP’s expansive collection of visuals will take on a new lease on life. Through an interactive gaming experience that recreates modern and historic locations and artefacts, players will experience life within those places as if in reality. Both the past and the present of Hong King will be brought together in the metaverse of The Sandbox as it tokenizes the historical assets of the SCMP.

With the partnership, SCMP joins 165 other partners with The Sandbox including The Walking Dead, McDull, Deadmau5, Richie Hawtin, etc. The company also announced that on July 22, players of the virtual game will be able to purchase areas near the SCMP project using the metaverse’s native LAND tokens.

The Sandbox amassed over 40 million global installations on mobile and up to 1,300 Ether (ETH) in the first and second presales of its native LAND tokens. The Alpha launch of the metaverse is scheduled to take place this summer.

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Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

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