Built on the Algorand blockchain, the Data History Museum’s first series of historical NFT artifacts uses the US Geological Survey’s open API to create real-time assets from earthquakes around the world.
Melbourne, Australia, May 23, 2022 /PRNewswire/ — Data History Museuma ManufacturerX company, sold its Genesis Collectionincluding the world’s first digital historical artifact whose authenticity is verifiablewhich marks an earthquake of magnitude 4.67 in Hawaii and was auctioned off for 1050 Algos, with 50% of the proceeds going to scientific research and 50% to disaster relief.
Data History Museum was established to produce NFT artifacts for all major historical events as they occur. For example, the initial implementation creates an NFT for every major earthquake that occurs around the world. Using automation that leverages data from the US Geological Survey’s Open API, the NFT keystroke for each earthquake is automatic and instantaneous, and also includes important event-related metadata such as magnitude, the depth, longitude and latitude of the site, etc.
Until now, historical artifacts have been physical objects containing data that can be extracted to authenticate their originality and historical significance; data that cannot be artificially reproduced. This quality of verifiable uniqueness – or non-fungibility – is part of what qualifies something as an authentic historical artifact.
Think, for example, of the Rosetta Stone. This artefact is composed of explicit and implicit data (engravings, carbon dating, etc.) which allow researchers to establish its authenticity beyond dispute, and which make it non-reproducible. These types of artifacts are essential for scientists and historians seeking to understand our past and inform our future.
As humanity has expanded beyond the physical world into a digital world, the Data History Museum recognizes how imperative it is that there is a digital system for tracking historical artifacts that meets the same standards of verifiable authenticity than those established for physical objects. The digital archives currently used by museums and institutions are not adequate because they can be corrupted, manipulated or completely erased.
NFTs, or non-fungible tokens, present a technological solution to this challenge. As specialized data structures, NFTs are able to facilitate the production of verifiable unique digital objects, with tamper-proof protection and long-term redundancy. Data History Museum detailed white paper further describes how NFTs are considered legitimate historical artifacts.
The Data History Museum believes that blockchain will become the basis of humanity’s most reliable and accessible historical record, and that a concerted effort to produce NFT artifacts for all major historical events will allow scientists to study in confidently the events of the 21st century and beyond.
To power the project, the Data History Museum relies on the Algorand blockchain, a carbon-negative, scalable, and developer-friendly Layer 1 protocol that has the low transaction fees necessary to enable the continuous minting of thousands of artifacts.
Matt DavisCEO of MakerX and co-founder of the Data History Museum, said, “We are big lovers and supporters of science, and we are really excited about the potential of this technology. We are building the world’s first organized digital museum with all kinds of authentic and verifiable historical artifacts for all of humanity to enjoy. Perhaps digital artifacts will one day have as much impact on our understanding of humanity as the Rosetta Stone.
In the aftermath of earthquakes, the Data History Museum plans to produce artifacts for all sorts of events, from hurricanes and solar flares to scientific breakthroughs and election results.
But the Data History Museum’s vision goes beyond artifacts. The museum plans to share proceeds from the sale of artifacts with scientists and researchers who provide data feeds. This gives scientists a whole new source of funding, reducing their dependence on grants and the need to prioritize research that serves the interests of funders.
MakerX specializes in the development of digital products for start-ups, companies and entrepreneurs. They deliver successful projects by bridging the gap between business strategy and technology implementation. Based at Australia, and with experts from around the world, MakerX has attracted the brightest minds in engineering, design, and strategic thinking. MakerX can be hired directly or integrated into existing business creation teams as a digital implementation expert and Web3 partner. For more information, visit https://www.makerx.com.au.
About the Data History Museum
Data History Museum, a MakerX company, is on a mission to mint, catalog, and sell authentic, verifiable digital artifacts forged during the most significant events in human, Earth, and cosmic history. For more information, visit datahistory.org.
Algorand transforms business models and economies of all kinds. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand’s high-performance Layer 1 blockchain is unparalleled in bringing fast, frictionless, and inclusive technologies to users around the world. Algorand is reshaping multiple industries – from TradFi and DeFi to new creator economies and beyond. With a commitment to interoperability and consistent delivery, Algorand’s sustainable technology drives greater participation, transparency and efficiency for everyone. As the technology of choice for over 2,000 global organizations, the Algorand ecosystem transforms the next generation of financial products, protocols and value exchange. For more information, visit www.algorand.com.