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| The New York Times sells one of its columns as NFT |
The New York Times joined the NFT game and converted one of its pillars into a non-tradable NFT symbol.
The newspaper sold the first article dating back nearly 170 years as an NFT opportunity for 350 Ethereum (roughly $ 560,000).
The New York Times isn't the first brand to sell digital icons, nor is it the first news organization to sell digital icons, but it is without a doubt one of the most successful brands.
Kevin Roose announced an NFT auction in the column. It is the interpretation of NFT and sales information of the reasons why someone should buy the product.
Like other brands of NFT, newspapers have added additional features to facilitate transactions because the articles cited by NFT contain PNGs.
The daily podcast host also sends a congratulatory audio note to the buyer and includes information about the NFT sale in a follow-up article, including name, affiliation, and selected photos. Buyers can also choose to remain anonymous.
As with many NFT brand sales, the proceeds from the sale will also be used for charitable purposes (particularly the Needestest Cases Fund that supports charities in New York and other regions).
The New York Times is the latest news organization to research the use of NFT, which is similar to digital testimonials or labels for artwork or creative work.
Data is stored as tokens throughout the blockchain, and the idea is that tokens are unique and rare.
A few days ago, Time magazine entered the arena by selling the covers of three publications. The offer has now reached 31 Ethereum, and Quartz has sold the newspaper's first component, Ethereum, in the form of NFT.
My book is out today! Here's the how it started/how it's going. (thanks @karaswisher!) pic.twitter.com/B1morKM21J
— Kevin Roose (@kevinroose) March 9, 2021