Tokenized or reinterpreted covers by crypto-artists, articles published on blockchain and much more. NFTs are entering all sectors, from art to tourism and now also publishing. A few months ago, for example, the famous American magazine Time announced the creation of a collection of Nft in collaboration with Cool Cats, a company that created a collection of cards on blockchain self-generated by an algorithm. And this was not even the first time that Time had decided to undertake initiatives in the NFT field, in fact, some time ago it had transformed four of its covers into non-fungible tokens and sold them on the SuperRare platform.
These three covers were sold for a total of over 1.5 million euros, thanks also to the support of the famous crypto influencer with over 1 million followers on Twitter, Anthony Pompliano, investor in bitcoin and in various startups. But we’re not just talking about American magazines. In Italy also Vanity Fair and Corriere della Sera have created covers in the form of NFT.
An important contribution to a sector that, for example, in Italy has been in crisis for years. In 2020, the average turnover of publishing fell for nine out of 10 companies. A way therefore to monetize culture and information more thanks to this particular application of blockchain technology. the first magazine entirely made in NFT. This is The NFT Magazine, whose first issue will be published on the Opensea platform on November 2nd.
Using the Ethereum blockchain, 500 copies of the magazine will be created, which can be purchased by purchasing the cover in the form of NFT. Whoever does it will have the right to obtain the number to read. The topics will obviously be related to the world of crypto art, blockchain and fintech. The covers will be made by famous artists of the sector, becoming collector’s cards, given the extremely limited number of copies.
What are NFTs?
Non-fungible tokens are files whose authenticity and uniqueness is guaranteed by blockchain technology (usually that of Ethereum, but the number of blockchains on which it is possible to create them is increasing more and more). The operation is simple: a document in digital format is guaranteed by the blockchain and this allows it to have value. To give a concrete example, the difference is between the Mona Lisa exhibited in the Louvre with its inestimable value as an original and all its worthless reproductions. So what the blockchain does is ensure that one is the original work, while the others are mere copies or fakes.