Fortune magazine sells NFTs for $ 1.3 million in Ether (ETH)

Fortune offers NFTs for sale

As Fortune explains today, this “experimentation” around NFTs took place in two parts. The first consisted of the sale of 256 NFT of the cover illustration of the last edition of the magazine, which was precisely dedicated to cryptocurrencies. Each coin was offered at a fixed price of 1 ETH, or 3,200 dollars at the current price.

According to Fortune, that first sale passed within minutes, and resales are already up to seven times the original amount. This was followed by a second sale of three “special” tokens. The interest was such that it gave way to the OpenSea sales platform, where the auction was taking place. Technical errors did not allow all investors to complete their purchase.

Despite the 504 errors on the site, this second sale was eventually successful. One of the NFTs sold for 47.4 ETH, which is $ 153,443 at the current price. The most expensive was sold for 105 ETH, or $ 339,906.

👉 Also Read – CNN TV Channel Offers Highlights From History In NFT Form

$ 1.3 million in ETH

In total, the sale raised $ 1.3 million in ETH. Half of this amount will be donated to charities, and the other half will be kept by the Fortune teams. Fortune CFO Anastasia Nyrkovskaya explained that she wanted the amount to be kept in Ether, and not changed to dollars. The magazine’s senior editor, Robert Hacket, also confirmed that Fortune is keen to become an ETH hodler.

In the United States, several publications have dabbled in cryptocurrency, with sales of NFT representing covers or articles. Time Magazine even went further, signing a partnership with Grayscale and integrating Bitcoin (BTC) into its treasury. This new means of financing the printed press could therefore become more democratic, at a time when the field is weakened by the omnipresence of digital technology.

👉 On the same subject – France: the 20 Minutes newspaper will offer an edition in the form of NFT

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About the author: Marine Debelloir


Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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