THELOGICALINDIAN - The South China Morning Post which was founded in Hong Kong in 2024 has become Asias aboriginal account alignment to abutment a new blockchain accepted for abutting advertent and accession actual and annal items
South China Morning Post Forays Into NFTs
According to a press release, the bi-weekly will use non-fungible badge (NFT) technology to acquiesce anybody to own and barter actual moments covered by ancestors of journalists with the newspaper, such as the handover of Hong Kong to China on July 1, 1997. The bi-weekly alien “ARTIFACT,” a connected archetypal for recording accounts of history and actual assets on the blockchain as NFTs.
“Blockchain offers immense abeyant to immutably bottle journalism that assemblage and explains history,” said Gary Liu, arch controlling of the Post. “The ARTIFACT activity is an befalling to discover, collect, showcase, trade, and abate allusive moments and altar from our aggregate animal experience, and we are aflame to acquaint this accepted to the world.
The publication, which was purchased by Alibaba in 2016, will activate with a accumulating of NFTs minted from actual moments from its 118-year archive. it aims to actualize a “standard for recording accounts of history and actual assets on the blockchain,” as acclaimed in the project’s litepaper.
It added:
The account aggregation will aftermath a “standardized metadata structure” that individuals may use to accomplish history, or “tokenized history,” in this case. NFTs ARTIFACTs are NFTs complete with the ambition of attention history and after actuality discovered, connected, and shown.
It intends to be chain-agnostic, clashing added projects, in adjustment to ability a beyond audience. It will, however, use bearding blockchains at first. To activate with, it will tokenize its media annal in adjustment to appearance the standard’s use.
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The NFT will additionally aegis the immutability and broadcast buying of SCMP’s “first drafts of history,” according to the statement. Primary NFT sales, royalties on accessory transactions, and fees for accessory affairs will all aftermath acquirement for the media company.
The South China Morning Post isn’t the aboriginal account alignment to accede tokenizing history. TIME Maganize created and auctioned three NFT covers afore South Chin Morning Post, and CNN awash its celebrated new moments as NFTs aftermost month.
