• Fortune’s newest cover design is being sold as NFT Art

  • Fortune has announced that it has begun selling limited edition non-fungible tokens (NFTs) of the most recent issue’s cover art.

    Fortune Magazine has announced the start of a limited edition NFT sale in collaboration with digital artist pplpleasr. Fortune, one of the top-100 longest-running magazines in the United States, was among the first to focus solely on finance and business. In 2017, Fortune became an early mainstream adopter of cryptocurrency, dedicating an entire section to reporting on digital currencies.

    With its most recent August/September issue, “Crypto vs Wall Street,” the long-running publication is now venturing into the NFT space. The cover of the August/September issue, as well as all of the art pplpleasr created for Fortune’s “Crypto at a Turning Point,” package, will be sold in NFT form. Each of the NFTs will be available for purchase on OpenSea beginning Friday afternoon and running through Monday evening, August 9.

    Decentralized Finance, according to Fortune senior writer Robert Hackett, is “drawing a generation of tech-savvy tinkerers, crypto-coin early adopters, outside-the-box thinkers, and, yes, occasional degens to an alternative and largely independent financial system, one where they can borrow, lend, save, and insure themselves—based on rules they make themselves.” According to Fortune’s announcement on Friday, the package was inspired by the democratizing force behind DeFi.

    Fortune NFTs are now available on the market.

    Fortune’s collection will include 256 identical copies of the most recent cover art, digitized and converted into NFTs. The number, according to Fortune, represents the cryptographic keys that are commonly associated with cryptocurrencies. Each NFT will be sold at a fixed price rather than being auctioned off, as is common with many digital collections. According to Fortune, this move will give more people access to the series by avoiding the high-priced bidding wars that come with a single NFT auction.

    According to the press release, “in keeping with DeFi’s embrace of the power of open markets, cutting-edge technology, and sense of fun, FORTUNE and pplpleasr collaborated with Manifold on bespoke smart contracts to enhance the bidding experience of three additional, limited-edition NFTs of the cover.”

    According to the announcement, the graphics of each NFT will change based on whether certain cryptocurrency influencers are high bidders. A high bid, in essence, will change the art to feature the high bidder’s social media avatar.

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