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Fortune Raises Over $1.3M in Cover Art NFT Sale
The magazine auctioned a set of limited-edition NFTs of the cover of its crypto-themed August/September 2021 issue.
Business magazine Fortune has raised over $1.3 million in its first non-fungible token (NFT) sale.
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- Fortune auctioned a set of limited-edition NFTs of the cover of its crypto-themed August/September 2021 issue. The auction raised 429 ETH, the equivalent of over $1.3 million at the time of writing.
- The lot sold out in a few minutes and the NFTs are fetching resale prices upwards of seven times the original listing, Fortune reported Friday.
- The auction was held on NFT marketplace OpenSea, which experienced tech issues possibly as a result of the traffic experienced.
- Tech editor Robert Hackett tweeted that Fortune would be donating 50% of the proceeds to non-profit organizations and holding the rest.
Pretty stunned by the results of the @FortuneMagazine x @pplpleasr1 NFT drop. We raised 429 ETH, or $1.3 million—and that’s despite @opensea’s tech issues.
— Robert Hackett (@rhhackett) August 13, 2021
50% is going to nonprofits. Oh yeah, and Fortune is gonna HODL its share of ETH. (Sorry @jack.) https://t.co/ybkFHGAuDF
Read more: South China Morning Post to Mint Historical Records as NFTs
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
