- Goldmoney (XAU) subsidiary Totenpass has signed an agreement with Galactic Legacy Labs to provide data storage for its upcoming lunar missions
- Galactic Labs will be sending a time capsule to the moon carrying the data of 1 million ‘Earth ambassadors’ aboard Intuitive Machines’ Nova-C lander
- Totenpass’ solid gold permanent digital storage drive will serve as backbone for the venture
- Totenpass will earn an 18 per cent stake in Galactic Labs plus an annual license fee up to US$500,000
- The moon lander will launch atop SpaceX’s Falcon 9 in Q1 2022
- Goldmoney is a precious-metal focused financial technology company
- Goldmoney (XAU) is up by 3.62 per cent and is currently trading at $2.86 per share
Goldmoney (XAU) subsidiary Totenpass has signed an agreement with Galactic Legacy Labs to provide data storage for its upcoming lunar missions.
Galactic Legacy Labs is a space-focused technology company founded by Lori Taylor, Nova Spivack and Chris Habachy. The company has an ambitious plan to commercialize several space-related ventures over the coming years.
The first venture will allow one million people to send their digital data to the moon aboard Intuitive Machines’ Nova-C lander, which will launch atop SpaceX’s Falcon 9 in Q1 2022.
Totenpass’ solid gold permanent digital storage drive will serve as the venture’s backbone. The technology is well-suited for sending information to space because gold is resistant to radiation and the harsh conditions inherent to space exploration.
Led by Bruce Ha, former Head of Optical Media Research at Kodak, Totenpass’ beta version is set to launch in July 2021.
Totenpass will earn an 18 per cent stake in Galactic Labs, plus an annual license fee of US$125,000 in the first year that rises to US$500,000 in year three. In addition, Goldmoney will make a C$750,000 investment in exchange for a 2.5 per cent stake in Galactic Labs.
Roy Sebag, co-founder of Totenpass and CEO of Goldmoney, commented,
“We are pleased to see that Totenpass has already found its first enterprise application in the nascent space industry. This agreement provides an initial validation of our business concept while also being an indication of the long-term economic potential inherent to this business.”
Bruce Ha, co-founder of Totenpass, said,
“This project achieves two of my visions, to expand humanity’s knowledge to the stars and to create a time machine for generations long into the future. This is because Totenpass is the only storage medium known to withstand both space and time.”
Chris Habachy, co-CEO of Galactic Legacy Labs, added,
“We believe our exclusive partnership with Totenpass will support the storage, delivery and preservation of GLL’s data into space for millions, if not billions of years.”
Goldmoney is a precious-metal focused financial technology company.
Goldmoney (XAU) is up by 3.62 per cent and is currently trading at $2.86 per share as of 10:34 am ET.