Problem Statement

1. Current and future generations of local communities around the world lack the economic incentives to preserve their cultural heritage.

   1. According to the World Economic Forum (2021), the cultural and creative sector is the second-largest employer in the developing world, especially among young women in rural areas. Yet most cultural workers earn salaries well below the poverty line (US $2/day, according to the World Bank and from Fall 2022 it will be raised US $2.15/day.)

2. This problem has been exacerbated during the COVID19 pandemic due to the dependency of the cultural heritage sector on tourism for direct distribution.

   1. Due to the COVID19 pandemic, global tourism revenue suffered a loss of US $1.3T in 2020 and $1T in 2021, putting over 100M tourism-related jobs at risk (UNWTO, 2021).

   2. Women, young people, rural communities, indigenous peoples, and informal workers have been disproportionately affected by the abrupt drop in cultural tourism revenues, and the absence of tech-enabled distribution platforms for this sector has revealed its lack of resilience.

3. Local communities of cultural keepers lack knowledge and opportunities to access and be included in the Web3 revolution.

   1. During the 2020-2022 bull market, Web3 has established itself as a new financial and social paradigm that can redistribute wealth and fairness across the decentralized economy.

   2. Many people around the world — including cultural keepers, those who embody traditional cultures, such as artisans and performance artists, are struggling to learn about this new Web3 paradigm, its benefits, and how to participate, which compounds missed opportunities for wealth redistribution.

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