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Fortune Magazine is selling its cover as NFT Art

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Joyashree Dey Follow

INDIA

Aug, 07 2021

Aug, 07 2021

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Fortune Magazine in collaboration with famous digital artist pplpleasr, is launching a limited edition series of NFTs (non- fungible tokens) as the cover art for their August/ September 2021 issue, named “Crypto vs. Wall Street”.

The issue will be auctioned with 3 rare unique NFTs and 256 fixed price NFTs on the “peer-to-peer marketplace” OpenSea. The auction’s bidding procedure will be begin at 12.00 p.m. ET on Friday, August 6, and will close at 9.00 p.m. ET on Monday, August 9.

The announcement of ‘Fortune x pplpleasr’s series of NFTs minting with Manifold, has been made in a press release on Friday by Fortune Media. Inspired by Fortune Senior Writer Robert Hackett’s democratizing force or “DeFi”, Fortune will sell 256 identical NFTs at a fixed price of 1 Ether each, rather than auctioning off just one NFT for a huge amount. It will give more people access to the series.

Brian O’Keefe, Fortune’s Acting Editor-in-Chief states, “We’re thrilled to collaborate with pplpleasr and Manifold as partners in this natural next step for our brand- entering the world of NFTs. The work that pplpleasr created for this project brilliantly captures what is a transformative moment for the crypto economy.”

The number of copies of cover as NFT art is a nod to the 256 bits that make up the cryptographic keys associated with cryptocurrencies such as Bitcoin and Ether. The press release further reveals that the graphics of each NFT will change depending on whether or not certain cryptocurrencies influencers will be bidding high or not,

Regarding the Fortune’s collaboration with her artwork, pplpleasr explains “It’s a whole colourful, vibrant ecosystem and community, not just an investment platform.” Whereas, the President of Manifold Eric Diep joyously stated, “thrilled to see Fortune, an iconic media institution, embrace the ethos of crypto-media by minting their first digital asset using their very own smart contact. This is both encouraging and exciting for the NFT metaverse at large.”


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Joyashree Dey

CBW - External Analyst

INDIA

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