Web3 platform Quantum Temple raised $2 million to fund its efforts to preserve cultural heritage using blockchain technology and non-fungible tokens (NFTs).
The pre-seed round is led by Borderless Capital. Other backers in the round include Shima Capital, Algorand Foundation, Outliers Fund and New Moon Ventures, according to a press release from the company.
Quantum Temple is a decentralized platform that hopes to preserve and fund expressions of cultural heritage through a variety of NFTs. Anthropologists, government institutions, artists and academics are involved in the project.
“We’re committed to using blockchain as regenerative finance infrastructure to allow a new transparent and equitable funding model to preserve cultural heritage and positively impact ancestral communities working in the sector,” Linda Adami, CEO of Quantum Temple, said in the release.
The use of NFTs can create new revenue opportunities for local artists and cultural keepers, which can drive regenerative funding for communities, the company contended.
The project currently offers two membership levels which come with the purchase of a Cosmic Egg NFT. A silver egg costs 1 ETH ($1,391) and a gold egg 4 eth ($5,564). Half of the cost of membership goes towards the impact fund treasury and secures member governance votes.
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Source: https://www.theblock.co/post/201612/borderless-capital-backs-cultural-heritage-platform-quantum-temple?utm_source=rss&utm_medium=rss