Let's start with the technology. If we believe that Web3 is going to be the next version of the internet and the difference is that it is decentralized, then we need proper building blocks for that next internet. I absolutely believe that historical assets and especially verified historical truth and information should be part of the building blocks for the next internet. The internet is about information exchange and transfer. If we shift to a new internet and lose all the information that has already been accumulated by humankind, that would be an utter shame.
I believe that historical entities play a massive role in transference of that knowledge from web2 to Web3.
For society, I think historical entities mean the democratization of knowledge in a way we've never been able to accomplish before. When we look at archives, whether it be museum archives or newspaper archives, the vast majority of the world's archival knowledge is hidden away in temperature-controlled lock rooms. Museums on average are only able to show 5% of their collections to the public at any given point in time, and newspaper archives are almost never accessible to the public, but NFTs create a business model for these assets to be made available for the public all at once, which I believe long term will increase access to information and knowledge and the democratization of truth. That is my hope for historical entities in society.
Finally, on news media, the internet (web1, web2) has fundamentally broken the business model for news because information, once published on the internet, has zero intrinsic value. NFT technologies changes that calculus: NFTs allow digital media to have intrinsic value. That's the big evolution, that's the paradigm shift, which means that for media companies, this is a whole new economy which can be built. These are new business models, new direct relationships with our readers and users around the world, and new communities for engagement and knowledge. That's why I think that media companies must pay attention to the evolution of Web3 and must understand NFT technology for the sustainability of the news industry long term.