Quantum Temple: Invest in Culture and Art
Quantum Temple is an NFT marketplace designed to preserve cultural heritage, including traditions, knowledge, and art. Built on the Ethereum and Algorand blockchains, the platform allows collectors to purchase NFTs and provide financial support to national communities.
Quantum Temple works with individuals and governments from various cultures worldwide, including artists, craftsmen, and elders, to enable local communities to uphold and promote their traditions using Web3 technology. Their team comprises advisors from fields such as tourism and anthropology who finance the development of physical and digital artifacts in the form of NFTs.
Their research in Indonesia revealed that many communities, especially the younger generation, face poverty and are often compelled to compromise on their cultural heritage for financial stability. Quantum Temple aims to not only preserve cultural traditions but also spread them worldwide and provide stable funding to these communities through the NFT marketplace.
If you want to be a part of the Quantum Temple project, there are two ways to get involved:
1. Buy a Cosmic Egg membership NFT and unlock exclusive perks. Half of the proceeds go to the treasury, while the other half goes to the Impact Fund.
2. Trade your Quantum Temple NFTs (Cultural Heritage, Cultural Artifact, etc.) on the secondary market. The smart contract ensures that the authors receive a royalty of 40% on the first sale and 4% on subsequent sales.
The Impact Fund will be managed in a decentralized way, and the money will be used to finance various communities and projects. The fund will initially consist of Cosmic Egg NFT holders, cultural custodians, members of the executive and internal team of the marketplace. Currently, Quantum Temple is focused on its first target location – Bali, Indonesia.
Cosmic Egg NFT
There are two kinds of NFTs on offer: Gold and Silver. You can buy them using cryptocurrency (ETH/ALGO) and enjoy a bunch of benefits that come with them.
The Gold option costs 4 ETH and gives you founder status, entry to an exclusive group, five votes to manage the Impact Fund, invites to all offline events, and first dibs on both paid and free auctions. The Silver NFT costs 1 ETH and only differs in the number of management votes you get (one instead of five) and the priority level you have for auctions.
Paths to Alango
Quantum Temple is currently hosting an auction called “Paths to Alango.” It features artworks from Indonesia, showcasing the dances, rituals, and traditions of the Balinese community in video and audio formats. To participate, simply connect your wallet to the website and verify your profile. Once the auction starts for the NFT you're interested in, you can begin bidding. The starting price is $5000, and if you win, the NFT will be automatically transferred to your wallet.
Why Indonesia?
The tourism industry has suffered greatly around the world due to the pandemic. However, the Indonesian government, specifically the Ministry of Tourism and Creative Economy, has decided to take unconventional approaches by using blockchain technology to attract tourists and promote their culture.
The NFT collection “Paths to Alango”, which is currently being sold at auction, was presented on March 21, 2023, in France. All the works in the collection were created by local artists. Muhammad Neil El Himam, the Deputy Chairman for Digital Economy and Creative Products at the Ministry of Tourism, commented on his ministry's actions:
We are working hard to achieve our goal of growth and cultural expansion. We are using modern blockchain solutions to preserve historic items and experiences and share our culture with the world. We hope to attract more people to participate in our digital and physical economy.
Quantum Temple CEO Linda Adami supports Indonesia's use of blockchain technology in the cultural realm:
Authenticity and quality are fundamental to cultural heritage’s tangible and intangible value. Blockchain can be used to create an immutable and invaluable record that recognizes authorship and guarantees the authenticity and provenance of creative assets.
Asset tokenization of cultural heritage or specific events is already being used around the world. For example, Ukraine has launched the NFT Museum of War.
Final words
The approach of Quantum Temple is interesting and could expand the cultural traditions of different countries around the world. However, the lack of regulatory or technical frameworks in some regions could hinder its implementation. While these issues are being addressed by regulators, the team is continuing to work on their project and plans to introduce new products in the future, such as the Cultural Artifact NFT, which would allow the purchase of a handmade physical artifact.
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