First recorded sale of a cultural heritage NFT, ‘Royal Topeng’, raises $97,000 with 40% of funds distributed directly to local Balinese community and immortalized on blockchain
BALI, Indonesia, April 4, 2023 /PRNewswire/ — Quantum Temple, the Web3 platform preserving cultural heritage, has unveiled the world’s first collection of cultural heritage NFTs – ‘Paths to Alangö’, a debut series of 11 ethnographic films as digital assets, featuring expressions of tangible and intangible culture from Bali, Indonesia. Developed in partnership with The Ministry of Tourism and Creative Economy of Indonesia, Quantum Temple has also confirmed the first recorded sale of a cultural heritage NFT for $97,000 (USD), with proceeds transparently directed to preserve and fund ancestral Balinese communities.
Using blockchain technology, 40% of the auction proceeds have been distributed directly to the local culture keeper of ‘Royal Topeng’ and 5% to a social impact fund for their community. The transparent distribution of NFT royalties to culture keepers respects the value of their work, providing more equitable revenue streams for local communities in perpetuity.
“We are thrilled to launch Quantum Temple with our debut collection of cultural heritage NFTs, ‘Paths to Alangö’ featuring Bali, and the historic auction of the first NFT, ‘Royal Topeng’. By immortalizing these cultural traditions and knowledge on the blockchain, we are enabling new pathways for positive stewardship of cultural heritage and transparent distribution of socio-economic benefits for its practitioners and the communities involved. We also hope this redefines the values of cultural tourism in connecting conscious travellers to local communities around the world.” Linda Adami, CEO and Founder, Quantum Temple
“When we were introduced to Quantum Temple last year, we did not think twice about giving our full support. Because at the heart of it, this new model values and protects our culture and people. Most importantly, it reminds us that human connection through arts and culture can be experienced in the digital age.” Angela Herliani Tanoesoedibjo, Vice Minister of Tourism and Creative Economy Republic of Indonesia.
The debut collection, ‘Paths to Alangö’, features Bali, Indonesia with 11 original ethnographic films as collectible NFTs. Each NFT represents a different aspect of Balinese cultural heritage, such as dances, temples, heritage sites, and philosophy, filmed on location against breath-taking backdrops of Bali’s cultural landscape.
The NFTs are created in partnership with local communities in Bali, leading anthropologists, and cultural heritage experts, ensuring that they accurately represent the expressions of Balinese culture. The ‘Paths to Alangö’ NFT collection is designed to be a source of income for Balinese cultural heritage keepers and a new approach to preserve and promote these ancestral communities and their knowledge, transparently distributing NFT royalties directly to the communities in perpetuity.
Future collections will include physical and experiential NFTs, and support ancestral communities in Peru, Panama and beyond.
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NOTES TO EDITORS
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ABOUT QUANTUM TEMPLE
Quantum Temple is the Web3 platform preserving cultural heritage. Our platform enables equitable exchanges between conscious collectors and ancestral communities to protect and share knowledge, traditions, and art forms of cultures around the world in perpetuity through blockchain technology.
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Originally published at https://www.prnewswire.com/news-releases/quantum-temple-unveils-worlds-first-collection-of-cultural-heritage-nfts-to-preserve-and-fund-ancestral-communities-301787129.html
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