Piql Book of References

Digital Svalbard money NFTs Case Study

Digital Svalbard money NFTs stored in the Arctic World Archive Sparebank1 and Kaupang Krypto have, in collaboration, introduced a collection of non-fungible tokens (NFTs) based on digitized historical local money from the mining community on the isolated island of Svalbard. They grew fond of the long-term storage offering Piql can provide, and decided to write all of their original NFTs and their associated digital coins and notes as well as historical information to piqlFilm. The data was deposited in the Arctic World Archive on the 14th of February, 2022.

WHAT IS SVALBARD MONEY? Svalbard has a unique history of producing local money. Throughout much of the 20th century, American, British, Norwegian, Soviet, and Swedish coal mining companies created their own banknotes. The Soviets also created coins for their operations. The miners received their salary in local currency and used it for purchasing goods - exclusively on Svalbard. Amajor bank in Norway, Sparebank1, initiated the Svalbardmoney project to tell the story of the phenomenon that was Svalbard

money using pictures, maps, art, sound, and text. This goal was made possible through deep analysis and careful digitizing and recreation of an important part of Norwegian history. They partnered with Kaupang Krypto, the leading blockchain and crypto-trading company in Norway. CHALLENGE The Svalbard money project has analyzed and digitally reproduced accurate representations of 551 bills and 111 coins from the isolated Svalbard community.

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