Nfts
The Vatican is turning to NFTs to preserve cultural heritage and will reward users who support it with “Soulbound tokens”
The Vatican Historical Library announced the launch of a new non-fungible token (NFT) project that would be distributed to users in Italy who support its manuscript collection.
What happened: According to a press release, the experimental project was announced in collaboration with NTT DATA Italya Japanese multinational company.
Users who support the Web3 project by sharing via their social networks will receive a so-called Silver NFT which will provide access to 15 high-resolution manuscripts from the library. Those who support the project with a donation will have access to all the high-resolution images in the selection, 21 in total. The campaign will continue until July 16.
NFTs were described as non-transferable. Also called ‘soulbound tokens“In cryptocurrency parlance, these types of NFTs cannot be transferred to another user once received.
One of the oldest libraries in the world, the Vatican Library contains one of the most important collections of historical texts. The aim of the aforementioned campaign was to preserve their cultural heritage.
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Why is this important: The Vatican’s strategic foray coincides with similar attempts to convert historically and culturally significant entities to NFTs.
Paris Matcha popular French magazine, turned some of his classic stock images into NFTs and put them up for auction.
Earlier this month, a digital asset investment firm Galaxy Digital transformed a 300-year-old vintage violin in an NFT. The tokenized version was used as collateral for a loan.
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