April 3, 2023

Indonesia Documents Cultural Heritage via NFTs

Indonesia

Indonesia

Indonesia is taking steps toward preserving its culture by tokenizing its cultural heritage and transforming it into NFTs, according to Cointelegraph.

The Asian country collaborated with Quantum Temple, a tech company, to use NFTs to preserve the Indonesian cultural heritage in a way to enhance virtual tourism, according to Muhammad Neil El Himam, the deputy chairman for the digital economy and creative products in Indonesia’s Ministry of Tourism and Creative Economy.

“I believe that NFTs can contribute to preserving Indonesia’s cultural heritage while enhancing virtual tourism. NFTs may also be a medium in ushering in the next billion users into the crypto space, especially if the NFT elements of the cultural heritage are well-known and appreciated,” Himam told Cointelegraph.

Meanwhile, CEO of Quantum Temple Linda Adami pointed out that her company developed an NFT marketplace, based on the Ethereum and Algorand blockchain networks, to enhance tourism to the southeastern Asian country, adding her firm is closely working with Indonesia’s Ministry of Tourism and Creative Economy by tokenizing tangible and intangible cultural heritage, including traditional ceremonies, craftsmanship, musical and oral expressions, and dances.

Earlier on March 21, the tech company released its NFT collection, named “Paths to Alangö” during the Paris Blockchain Week, which included 11 unique NFTs that represent different aspects of the cultural heritage of Bali, created by local artists and cultural heritage experts.

Himam mentioned that tokenizing digital assets could face regulatory and technical challenges, including friction, which could evolve because of the regulatory uncertainty within the region. He also added that certain areas do not have good infrastructure specialized to operate blockchain-based technologies such as digital wallets as well as the lack of skilled professionals.

“The Indonesian Ministry of Tourism and Creative Economy leadership understands how NFTs could offer a new funding model for the cultural and creative sector while also protecting the intellectual property rights of artists,” Adami concluded.

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