Nfts
To preserve cultural heritage, an NFT hackathon is organized
Shérab Lhamo
The Department of Dzongkha Culture and Development (DCDD) of the Ministry of Home Affairs, in collaboration with Govtech, organized a hackathon focused on the symbolization of the 18th century Zhabdrung Phuensum Tshogpa Thangka.
With the main objective to engage the youth by leveraging technology to promote and preserve the heritage of the country of Bhutan. Since yesterday, a three-day non-fungible token (NFT) hackathon has been held at the conference hall of the Dzongkha Culture and Development Department (DCDD), Thimphu.
DCDD Textile Museum Chief Curator Tshering Uden Penjor said the NFT hackathon aimed to improve blockchain development skills and create digital assets.
The initiative aims to introduce the digital economy while safeguarding the country’s cultural heritage.
Tshering said he chose the Zhabdrung thangka because “we needed something symbolic of Bhutan, among other familiar thangkas.” She added that Zhabdrung Ngawang Namgyel is synonymous and symbolic of Bhutan and its rich cultural heritage.
Chanel Lee, one of the trainers and creator of Tasty Toastys, a limited-edition generative NFT collection, said participants will learn the history of NFTs, fundamentals and case studies on how businesses and Organizations around the world are using NFTs. Additionally, they will learn how to create their own NFTs, set up cryptocurrency wallets, and upload NFT artwork online.
Tshering said 10 NFTs would be created by 13 participants selected through an open registration posted on the Govtech Facebook page.
The top three NFTs will be promoted and integrated into the museum’s NFT collection. The department is exploring marketing opportunities in the digital space and is currently in talks with DHI (metaverse), OpenSea and Sandbox.
Garab Dorji, ICT director of the emerging technologies division of the GovTech agency, said that the role of Govtech is to promote technology and NFT. “We are trying to see how Bhutan can benefit from this. »
During the hackathon, a round table took place. DHI, Bhutan Post and Royal Monetary Authority (RMA) shared their experience on NFT.
Head of Philately Division of Bhutan Post, Nima Zangmo said that Bhutan Post has many postal stamps since 1954, based on cultural traditions. She shared that to develop interest among new generations in stamp collecting, Bhutan Post converted physical stamps into NFTs.
They collaborated with Stampsdaq, an EU-based NFT company, for blockchain management and minting. Although Bhutan Post has created six NFTs, they have not generated enough revenue due to a lack of awareness among Bhutanese collectors. However, they plan to promote their existing NFTs.
Veteran marketing and PR strategist Florence Ang, one of the panelists, said Bhutan Post needs to target its audience, including NFT collectors, as this demographic is “narrower than broad.”
Jhuma Lhazay, IT manager of the RMA’s Department of Technology and Innovation, said they were exploring core bank money. “We also have a new technology regulatory framework where we enable interested innovators to innovate in the digital space.” The RMA began exploring digital currency in 2019 and is currently planning to test digital currency.
The hackathon will conclude on Wednesday, where the three winners will be announced.