Treasure & Shipwreck Recovery Bolsters Marketplace for Recovered Objects with “Novel” NFT Based Sales Platform
Treasure & Shipwreck Recovery (OTC:BLIS) is launching a novel method of selling recovered objects using non-fungible tokens (NFTs). These NFTs will represent real objects, showcasing a detailed 3D scan and historical data, which will be shipped to buyers. The company aims to enhance market transparency and accessibility for collectors, allowing them to safely view and verify items before purchasing. TSR has not yet disclosed the blockchain for minting NFTs, and they are currently offering shares at $0.03 with additional purchase options at $0.06.
- Introduction of NFTs tied to real recovered artifacts to enhance sales.
- Allows collectors to view and verify historical objects digitally before purchase.
- Enhanced transparency in the secondary market for reselling objects.
- Operational business model may attract collectors and investors.
- Lack of clarity on the specific blockchain for minting NFTs could pose risks.
- The company has yet to demonstrate a scalable revenue model for NFT sales.
ST. PETERSBURG, Fla., Sept. 13, 2022 (GLOBE NEWSWIRE) -- Treasure & Shipwreck Recovery, Inc. (“TSR” or “the Company”), (trading as OTC:BLIS), has been developing what some call a novel use case of non-fungible tokens to bolster the initial and secondary market sales of objects recovered by the Company since the start of operations in 2021.
Non-Fungible Tokens, or NFTs, are unique cryptographic tokens that exist on a blockchain and cannot be replicated, much like the physical artifacts and objects Treasure & Shipwreck Recovery has continued to recover off the coast of Eastern Florida.
Unlike the vast majority of NFTs on the market today, select NFTs minted by TSR will represent a real object from the Company’s collection. Not only will these NFTs display a realistic 3D scan of the object and a description of its history, but they’ll also be shipped to the address specified by the buyer at the time of purchase. “The time has come where these objects should be enjoyed by the public. We’ve focused so much on the technology, research, logistical, and legal parts of making the recovery operation successful, it took us a while to recognize we shouldn’t be delaying the appreciation of these pieces of history any longer,” said Craig Huffman, President and Chairman of TSR. “Soon from anywhere in the world, you’ll be able to study these amazing objects in exquisite detail and even have them delivered to your door.”
The Company recently shared an initial test 3D rendering of an object they refer to as, “The Rock” on their website https://treasurewreck.com/nft-test-01-the-rock/. The important part of the test, according to the Company, was the use of a highly customized photogrammetry application and process that translates a series of pictures into a fully rendered 3D object, aiming to render the 3D object with as much accuracy and precision as possible from each respective photograph angle. “Getting the 3D model to match the photographs in such a way that the details are nearly indistinguishable was a sigh of relief,” said a developer working on the project. “Now we’re focusing on the photographs, which is a more predictable and practiced artform. Our new lighting setup reduces the blurring effect of shiny reflections and renders more real-to-life colors in the images. The biggest improvement was switching to a professional camera with a macro lens to capture better detail. And of course, the more photos in each series, the better.”
“Having NFTs with detailed 3D renderings that match the real objects will accomplish a lot for our industry,” said Craig Huffman, President and Chairman of TSR. “First and foremost, anyone can play around with these objects and admire them for free from anywhere in the world, which will be great for the treasure community. For collectors, a lot of pitfalls in today’s world can be avoided; They can see exactly what they’re buying, make an informed decision, transact in a safe and honest way, then safely display their collection quite easily. Even on the secondary market, these objects can be resold without much of a question about what they are or where they came from. Lost or stolen objects can be identified and returned to their rightful owners; the list goes on and on.”
TSR has yet to reveal which blockchain they’ll use to mint their first NFTs, only asserting the NFTs will safeguarded by the use of a Smart Contract.
TSR is a publicly traded company, audited and reporting under the SEC 1934 Act and registered under Regulation A+ for public offering. The Company’s common stock is now for sale, at a minimum investment of
About Treasure & Shipwreck Recovery
You can follow TSR at our Facebook Page, https://www.facebook.com/treasurewrecked. Our web site will be updated as new matters are announced including recoveries, the media side, and gaming side at www.treasurewreck.com. Instagram at https://www.instagram.com/treasurewrecked/
FORWARD LOOKING STATEMENTS: This press release and the statements of representatives of TSR. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, TSR’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
COMPANY CONTACT:
Website: www.treasurewreck.com
Investor Relations Email: ir@treasurewreck.com
Investor Relations Telephone: (813) 563-8777
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