The New York Times just turned one of its columns into an NFT
March 24, 2021, 4:08PM EDT
1 min read
The New York Times has turned one of its columns into a non-fungible token (NFT) and it's up for grabs.
"Why can’t a journalist join the NFT party, too?" wrote NYT tech columnist Kevin Roose in a tweet thread explaining the initiative.
According to the column, the proceeds of the 24-hour sale will go to the publication's Neediest Cases Fund, which supports social causes in New York and elsewhere. In addition to this, the buyer will be featured in a follow-up article about the sale, along with their name, affiliation, and an image of their choosing. Buyers also have the option to remain anonymous.
At press time, the NFT was bidding at 4.65 ETH (about $7,600) on NFT marketplace Foundation, which hosted the sale of the "Nyan Cat" graphic for $600,000.
The Times is the latest publication to explore the use of NFTs, which are akin to digital certificates or tags connected to a piece of art or creative work. The data is held in the form of a token on a blockchain network, with the idea being that said tokens are unique and scarce.
TIME Magazine has minted and is in the process of selling three of its issue covers, currently bidding at 31 ETH (nearly $53,000). Quartz sold its first NFT news article for 1 ETH (about $1,800).
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