Memory Twin represents an expansion of the Digital Twin notion in terms that are not only limited to the physical attributes of the data but also include paradata and metadata, which are crucial for the improvement of data acquisition results in the cultural heritage sector. In a Memory Twin, the data refers to the digital content, such as the 3D model, whereas the paradata relates to the processes and tools used for creating high-quality data. Metadata relates to the information that explains the digital content and gives value to the “Memory of Data”. This study applies the newly developed and ground-breaking Memory Twin methodology to ensure the highest standard of data-long preservation for the unique historic wooden fishing vessel Lambousa in Limassol, Cyprus.