Key Investors and Planned Expansion
The funding round was primarily steered by Blue Pool Capital, a fund that chiefly manages the wealth of Alibaba founders Jack Ma and Joe Tsai, with additional participation from Animoca Ventures. Artifact Labs plans to channel these funds into the expansion of its operations, with a specific aim to increase its team of developers.
Preserving History with Blockchain
Artifact Labs distinguishes itself from the NFT hype projects by driving engagement with historically significant collections using Web3. “We aim to etch new spaces in the consciousness of the younger public for historical brands and artifacts,” Phillip Pon, CEO of Artifact Labs, shared in a press release. The company intends to aid crucial organizations with new revenue streams for their preservation work, while also strengthening immutable on-chain data preservation through NFTs.
A Journey from South China Morning Post to Artifact Labs
The journey of Artifact Labs began within the South China Morning Post (SCMP), a leading newspaper in Hong Kong. SCMP in 2021 introduced a non-fungible token standard named ARTIFACT for recording historical data. The newspaper enjoyed considerable success selling NFTs of its historical front pages, capturing significant events like the handover of Hong Kong to China in 1997, the Avian flu outbreak, the Asian Financial Crisis, and the death of U.K.’s Princess Diana.
Artifact Labs: A New Chapter
Now functioning as an independent company, Artifact Labs announced that it will be releasing NFT collections as a revenue stream for preservation organizations. It also plans to develop and release technology to help institutions preserve their archives on-chain.
Emerging as a Player in the NFT Space
Artifact Labs might be a small player in the NFT space currently, but its recent acquisitions and partnerships indicate a promising future. In April 2023, the company acquired the tech stack of NFT platform Refinable, which will allow it to expedite its product roadmap, including the creation of a niche-focused NFT marketplace.
Partnership with RMS Titanic Inc
In a recent partnership with RMS Titanic Inc, Artifact Labs will preserve approximately 5,500 artifacts recovered from the ocean liner, converting them into immutable NFTs on the blockchain. This partnership aims to foster a Web3 Titanic community and offer exclusive benefits to holders.
Ahoy Titanic fans! We invite you to join us on @RMSTitanic_Inc 's Web3 Journey.
Connect with like-minded community members in our Discord, and stay up-to-date with our latest news.
React to the pinned post in our Discord channel to unlock a special role with perks!
— Artifact Labs (@ArtifactLabs_) May 10, 2023
Key Points
What is Artifact Labs?
Artifact Labs is a Web3 company that preserves historical records using blockchain technology and NFTs.
Who led the recent funding round for Artifact Labs?
The funding round was led by Blue Pool Capital, a fund that manages the wealth of Alibaba founders Jack Ma and Joe Tsai.
What is the primary goal of Artifact Labs?
Artifact Labs aims to engage the younger generation with historically significant collections by using Web3, and solidify on-chain preservation of historical events through NFTs.
What significant step did Artifact Labs take in 2023?
In 2023, Artifact Labs acquired the tech stack of NFT platform Refinable, which will help them to build a niche-focused NFT marketplace.
Who has Artifact Labs recently partnered with?
Artifact Labs has recently partnered with RMS Titanic Inc to preserve about 5,500 artifacts recovered from the ocean liner, turning them into immutable NFTs on the blockchain.
