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Fortune Magazine is selling its cover as NFT Art
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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