Business Magazine Fortune Raises $1.3 Mln In Its First NFT Sale.
2021-08-13 | Selina Mathew
Business magazine Fortune raises over $1.3 Mln in its primary NFT [Non-fungible Token] sale.
Fortune
auctioned a group of limited-edition NFTs of
the cover of its cryptocurrency-themed August/September 2021 issue. The auction raised 429 Ethereum [
ETH], the equivalent of over $1.3 Mln at the time of reporting.
The lot sold out within
a couple of minutes
and therefore the NFTs are fetching resale prices upwards of 7x times
the first listing, Fortune
reported earlier on Friday.
The auction was
held on NFT marketplace OpenSea, that 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 remaining.
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